Well thanks for all the kind words, I think...lol
Its just that my partner and I got sick and tired of seeing scam after scam causing unseasoned, or unsuspecting investors to continuously lose money.
Because of forums like this and all the others, there are some truly sleezy players who will both Pump and Bash a stock, all to suit their own particular needs.
Now thats just on the message boards, but the OTC/OTCBB markets are a lot dirtier then that, because are up against crooked CEO's, companies in business to just sell shares and print PR's, crooked Market Makers who'll Naked Short a stock to death, Hedge Funds and promotional sites who are paid in shares to send out alerts, spam the boards, emails and every other form of pumping you can imagine.
Many come to these markets with illusions of making a killing, only to find their capital gone before they knew what hit them. They assume that because its a SEC governed market, that they are somehow protected. NOBODY is protected here, its like the Wild Wild West and the only one who will look out for you, is you.
I've found that trying to accomplish Due Diligence (DD) on both Pinksheet and Bulletin Board stocks is in most cases an exercise in futility, where most times you'll end up with more questions than answers when your done.
Its a rigged game, so how do you win?
I'll post these commandments in the IBOX when Lie restores my moderator status, but if nothing else be sure you remember this one: Thou Shalt Assume ALL OTC/OTCBB Stocks are Scams!!!
So, what's that leave us? It leaves us the one thing that doesn't lie, doesn't cheat and is the only thing factual you can rely upon IMO... The Charts!
Top Gun Trading utilizes Technical Analysis (TA) in our approach to these dangerous markets. We look for stocks that have either fallen to a new 52wk low, for no apparent reason, where the indicators we rely upon have reached or close to Oversold status.
If we are alerted on a stock thats falling hard, we'll pull up a Level I quote to ensure there's sufficient volume to support easy entry and exit if we decide to play. We also glance over recent PR's or filings, to ensure we're not walking into a Reverse Split (which we've learned the hard way).
If the Level I indicates sufficient liquidity to support our play, we'll then pull up the charts, to see where the indicators are and whether its close to a turning point.
We prefer a 1yr Candlestick chart using several indicators, but I prefer the RSI, MFI and Momentum, just to provide a Snap Shot judgment. If the RSI and/or MFI have fallen to or below 25, which is oversold on my charts, and appears to be leveling out and ready to possibly uptrend or bounce, then we'll pull it up on Level II and begin to watch it trade real time.
This becomes critical, as you can get a good feel for the controlling MM's and a stocks momentum by watching it trade. When it appears the the stock has reached a saturation point and become oversold to the point that buyers will begin taking control, we'll make our entry and wait for the bounce.
We only look for a 10% to 30% gain, before selling on the first sign of weakness, to lock in profits. Our approach is designed to demonstrate that consistent short term gains are far more reliable to increase your capital, rather then the Buy and Hold or Investing mentality.
We apply this to Big Board Stocks also, though we're not dealing with the same level of BS as we are with OTC/OTCBB stocks. And if anyone's interested, they can visit our board, or our website and see how our Win/Loss portfolio proves this technique works well.
We have our losses, anyone who doesn't isn't being honest, the trick is to try and limit them.
Our website has grown immensely since this past August and just surpassed 1460 members. The site is a KoolAid Free Zone and free for the regular visitor/poster. However, if you want to follow our Top Gun Plays in real time, or come into our Intraday Chat room, where we discuss our plays, strategize and generally have a good time, then you'd have to become a Silver Member. Anyone with questions, feel free to PM me, or post on our IHUB board, I'll not spam the site here again.
Good Luck!!!
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