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I guess I'm not making any friends on the CHNW board - but there are all sorts of rumors starting - Garr might be in with the MM's, getting a payout to not let the price rise, etc...it's pretty funny. Everyone is so edgy - I hope people don't have their life's savings in there. Anyway...sorry I bring a bad name to the Granddaddy Mac Board...just trying to settle some things down...
It's all good Nathanial - I wasn't trying to single you out. It's something to consider all the time, I guess, but in someways we've been given no reason to believe that Garr would do something out of the ordinary, at best, and Completely illegal, at worst. I guess theoretically it could happen, but are there signs that suggest it's likely - NO. Could I go sleep with a hooker tonight, theoretically I guess yes, but it would definitely insult me if someone suggested it's a possibility considering I have 5 kids and I'm happily married. I'm not in bed with a hooker, Garr's not in bed with the MM's. I'm amazed at how much attention it has gotten considering it's such a far out consideration. I guess we're all edgy and have so little to talk about until the CUSIP. Sorry if I've raised my own stink, but I suspect that when this stock starts moving, we'll have a lot of other things to discuss - like what to do with our money.
I've thought about this: It would be crazy mailing billions of shares out - and so I don't think they would let you do this. No Brokerage would do it - we're just people and they won't do it. The only alternative I can think of is if some of us where rich enough to start our own brokerage firm, then I think we could physically have ownership of the stocks that we traded but it would require acerages of warehouse to hold it all. I've thought about this alot, but this would force the market into a panic and we'd probably all get arrested. Isn't that funny - they would arrest us for "manipulating" the market by causing stock prices to shoot through the roof and we'd be the ones doing the only honorable thing. Like it or not, the SEC hates volatility and would rather kill a stock then allow the price to shoot through the roof and have brokerage firms which are holding the FTD's (failure-to-deliver or counterfeit) stocks purchases to go under. Maybe one day when we are all rich we can fix the system, but right now we are Joe Small and so we'll have to wait and strategize...
ya - that's in the presentation as well - it's supposed to stop it, but there are grandfather clauses, etc. The other thing that we all have to realize is that the reason our orders get filled is because brokers do NSS - like it or not, if brokers didn't naked short sell at some level then the liquidity of the market as we know it would be very different. I'm with the rest of you - I'm not a fan, but I'm also a financial analyst. When an order comes in and a MM doesn't have it covered or has to cover it in three days - he just won't fill it and there would WAY fewer trades. It's just an interesting thing to analyze and see what the markets would really look like if this practice stopped all together.
Someone posted this on earlier or on another website but I think it helps...some transactions, I believe, don't start with the intent to destroy a company but happen much like this article talks about - other NSS are with intent to destroy as described by the CEO of Overstock.com's presentation which I think EVERYONE should see. without further delay here is the article and I hope it helps explain NSS and why MM then try to drive the market down to cover their shorts. closing comment: though some NSS is more malicious that others - I THINK IT SHOULD ALL STOP and it's all equally illegal and takes money out of our pockets:
Market Maker Speaks Out:Ways of a Market Maker
I was an OTC MM for about 10 years ending in the late 80's.Since then I have been strictly an investor. Since I have not been that up to date in MM rules I will only make statements that I feel fairly confident are still accurate regarding these activities. By and large most MM don't have a clue nor do they care to learn, about the fundamentals of the stocks they trade.
They just try to make orderly markets. When dealing with BB stocks it is very easy for a MM to get trapped into being short in dealing in a fast moving market. Reason being; most of the MM's in this stock are what are called "wholesalers" this means they don't have retail brokers "working" the stocks. So they have to rely on what's known as the "call" from larger retail houses. If a "Big" retail firm like an E-trade calls up a market maker to purchase say 5,000 shares of a stock, they expect to get an "execution" from that market maker. If he turns them down, or only gives a partial then the "Big" firm will go to another MM.
If this second MM "fills the order" then that "Big" firm has a moral obligation to continue to give future "business" in that stock to that MM who performed (his life blood). This will go on until he "fails" to perform and so on.
Contrary to popular opinion the "Big" firms Do NOT neccessarily go to the "Low Offer" to fill a buy order (Or high bid for a sell). The "Go" to who they think will perform to fill the order and expect that MM to "match" the "low offer" in the case of a buy (bid in the case of a sell). Even though this MM might in fact be the "high bid" and not really want to sell any more.
As a wholesaler he must perform or he will get a reputation as a "non-performer" with the "Big" houses and will cease getting "calls" which means he will soon go out of business. I mentioned above that this activity is very significant to BB stocks. I say this because most of the trades in these BB stocks are "unsolicited" and are done through discount houses, ergo "Big" firms. With the above groundwork laid, let me try to explain how market makers get short even if they like the Company; Lets say that a stock (shell) has been lying quietly at $.25 bid $.50 offered. A limit order comes into one of the MM's to Buy at $.50 for a thousand shares. Prior to this trade that MM may be "flat" (neither long or short any shares). He fill the order and is now short 1,000 shares. He may raise his bid hoping to find a seller to "flatten" out his position. But before he realizes it a wave of buyers have come in and cleared out all the $.50 offers. Now the stock is $.50 bid .75 offered. Here comes that "Big" firm he just sold the 1,000 shares to at .50 with another bid for 1000 at .75. He makes this print. Now he is short 2,000 at an average of .625. The market keeps moving and now its .75 bid 1.00 offered. Now he has to make a decision.
Just like investors, MM Hate to take a loss. So 9 times out of 10 he will now sell 2000 at 1.00 making him short 4000 but with an average .81. At this time he would love to see a seller at .75 so he can cover his short and make a few bucks. But instead the market keeps moving up. Now it is 1.00 to 1.25 and here comes the buyer again at 1.25. He doesn't want to loose the call so now he needs to sell 4,000 at 1.25 to keep his break even point above the bid. Now he is short 8,000. Market moves up to 1.25 bid 1.50 offer here comes the buyer now he feels he must sell 8000 here because "stocks don't go up forever".
Now he is short 16,000. And so on and so on. If the stock keeps moving up, before he realizes it he could be short 50k or 100k shares (depending how big his bank is). Finally the market closes for the day and on paper he may look all right in that his "break even" price may be around the closing price. But now he has to figure out how to entice sellers so he can cover this short. It is important to note that if this happened to one MM it has probably happened to most all of them.
Some ways MM's entice sellers; Run the stock up with a "tight spread" in a fast market, then "open" up the spread to slow down the buying interest. After it has "cooled off" for a little while lower the offer below the last trade right after a small piece trades on the offer then tighten the spread so that the sellers feel they can take a "quick profit" by "hitting the bid" on the tight spread. Once the selling starts the MM's will walk it down quickly by only making small prints on the way down with the tight spread. Another way is by running the stock up in the morning, averaging up their short then use the above technique to walk it down in the afternoon. Hopefully after doing this for several days, it will demoralizethe buyers. The volume will dry up and the sellers will materialize thinking that the game is over. Contrary to popular opinion, MM usually Do Not Cover in Fast moving markets either Up or Down if they are short. They Short More. They usually try to cover after the frenzy is out of the market. There are many other techniques they use but the above are the most popular. This technique works about 9 times out of 10 particularly in a BB market. However that is because 9 out of 10 BB stocks are BS. Remember what I said above. Most MM's don't have a clue as to the value of a Company until they get trapped. If the Company has solid fundementals and a bright future.
Then the stock will do very well. And the activity that caused the situation will prove to even help the future stock activity because it created an audience."
it depends on the broker you are using, from the information I've gathered Scottrade seems to be the worst in freezing/locking out trades. Ameritrade, I've heard, tends to lock for 3 days, though a post here said it should just be 1 day. Choicetrade, which seems the be the trader of choice for PK stock sellers since the commissions are cheapest, Again - so I've heard, does not freeze shares and you should be able to trade - that's the rumors!! Do with it what you will...every brokerage firm is different...hope it helps!
The last thing we need now is conspiracy theories that divide our ranks against the MM's. It's okay to think it and okay to post it (1st amendment) but please no one run out and sell all your shares. You'll only hurt yourself and in effect become a MM without the profit...destroying a company but without the monetary gain. It's a good thought, it's a capital crime, Garr wouldn't do it, and it's a bad time to consider it on a wednesday night right before a CUSIP...hold tight - stay the course. Where is that darn'ed Saint Crispins Day Speech when you need it - "Man will think of themselves less a man for not fighting with us this day on the Ides of March (march 15) when CHNW sticks it to the MM's and allows a stock to actually reach a price it should without NSS...." More later - My kids have to use the computer...
absolutely on the hype issue - No, I'm not worried about PDGT - I posted over there telling everyone I'm holding tight and lets ride this one through and not freak out - but the question still lends itself how far it will drop in the meantime - just something to keep an eye on. btw, I'm not talking out of two sides of my mouth - I'm not going to push it one site and back out on another - but I am going to watch it carefully - I think it's great longterm, but you have to watch selling opportunities...just a thought - btw,
I have to go right now but I do want to reiterate that the link you posted on the board is a MUST WATCH for everyone concerning FTD's (Failure-to-delivers) and NSS, as well as the bloomberg special on it. The bloomberg special is sorta a synopsis of the link on this board and it leaves out Richard Shapiro's rebuttal to the DTCC which clarifies that the problem is MUCH bigger than they let on...anyway, anyone who comes here I would recommend you watch both of those things - it's very very informative and interesting...Makes you want to DEMAND they mail you your 40 millions of stock, etc. I will probably post more later and btw - TOMORROW and FRIDAY should be VERY heavy days - I'm sure I'll post a lot.
We need to get more people on this board - it's discourging to come here midday with no activity... :( I miss you guys...
You might want to check out PNMS - PR today - it looks good from what I hear, might spike tomorrow and if you have some loose cash you might want to buy early and see it jump. There is an article on it on CIVX, check out PNMS board - I'm sure all the info is there - just a heads up for anyone with cash - I can't trade until Friday I think. I might try it in the morning, but I don't think it's going to happen - oh well - I can dream...
ya guys - it was a frustrating day and it's difficult not to overreact, especially when MM's are trying to drive the price in addition to difficult news about some share dilution. However, I do advise everyone to stay the course. Aside from possibly O/S, all the other DD is still legitimate. It's still a great company and it's a great product. It doesn't seem to be a company that wastes money or invests in products that will never come to market. It's focusing on a core product, which I love for a PK stock. I know there was a lot of confusion here today, but we actually came out pretty decent and avoided closing in the triple zeros. Ya know - I know what I think this company is worth, which is way more than it's been trading @ and definitely more than it's trading @ today. Let's not let MM's drive this joker into the ground.
Are you still on Drugs? he he he just kidding, but with the shiny shoes comment, I had to ask.
Ya, I think I'd up down $100 today or something. I'm definitely questioning PDGT between you guys...but I'll probably watch it a little more, but MM's seem to really be able to have their way on some of these stocks because there is no way to have a unified front on our end. It's a pyschological game. 90% of people won't sell their stock @ a lower price but when one person sells 10k shares they drop the price on us. Instantly, we seem to forget that we were holding @ a higher price and now 90% of people think it's worth the lower price, someone else sells 10k shares and they drop it another point. Now if they let it rise two points everyone sells thinking it's a "profit taking opportunity", when 1 day before no one would sell @ that point. So now because of the sell-off it really does drop to that level and they keep doing this to drop the stock...It's a brilliant strategy and it works so often...does that make sense to anyone. We really do forget where the floors our so quickly and readjust our thinking so quickly that they really do take advantage of it...
I was hoping for green - ended up even, and was threatening to drop in the red today. All in all, a pretty boring day. It must just be a lull before a flurry of activity, because, when I first got into PK's it was like a run was happening every day - what gives?
Strong, I suspect you didn't have too great a day...not sure what all you are in. I'm actually surprised that PDGT didn't drop more - it seems they've sprung a leak and keep dropping shares into the market. Let me know what you think - ? I'm about to the point of cutting my losses and rolling somewhere else. It's one thing to have MM's drive your price down - it's another to damage your stakeholders. Isn't that the purpose of leadership in a company - to maximize shareholder wealth?? I'm not in many stocks right now and so I pretty much stayed even, but it was a pretty red day all around for most of the market that I saw - any thoughts?
interesting : from Bloomberg.com
Special Report: Phantom Shares
Bloomberg Television premieres a half-hour Special Report called "Phantom Shares" on Tuesday, March 13, 2007 at 7:00pm, 9:00pm, and 10:00pm ET.
Millions of shares of stock are being sold that may not exist. How? Through an obscure trading strategy known as naked short selling. Bloomberg Television's Special Report hosted by Mike Schneider explains what the strategy is, how it's executed, which companies are targets, and what the SEC is trying to do to control it.
Here it is from youtube:
did you guys see that according to some letter someone received from CHNW there are 1 billion shorts on CHNW -
http://www.investorshub.com/boards/read_msg.asp?message_id=17858855
that is a LOT of shorts and a lot of stock...interesting.
A very good presentation. I finally found time to watch the slides and I thought it was awesome - a MUST SEE!! Thanks for posting it.
I'm debating getting in PMCL Strong - but again, waiting on my cash...
WillyBoyXXX - not sure what that name stands for, (not sure I want to know). ANYWAY, what platform do you use to buy stocks - do you go through and internet broker, or through an actual broker. I'm pretty fed up with Ameritrade, I think I'm going to Choicetrade soon...btw, I just got another 1000 today - money seems to be coming out of the woodwork - unfortunately, it takes too long to clear it to trade with because of Ameritrades fears with Pk stocks. If I had cash, I'd buy in @ .001, but my cash is tied up by my brokerage firm right now. Stong - does choice trade keep a tally of all your trades for you, or do you have to keep them yourself? That would make a difference in whether I switch or not...
PMCL is looking good btw, I was going to say the same thing about EVSA, but that's a no-brainer now. It's jumped 40% so now I have to refigure my entry point...oh well.
We seem to have a nice Triangle forming before the break-out. I know it's nerve-racking and confusing at the same time that people would sell now, of all times - but all indicators are a go for a Atom bomb to dropped on this stock and shoot the price through the roof, so I guess all we can do is wait. Last week watching it sit was rough - THIS WEEK IS KILLER!! I knew it would be, but atleast it's not the weekend. I've never, NEVER, looked forward to Mon-Fri so much.
Well - I'm definitely disappointed with the retractment this afternoon - I hope we get over this soon - I can't believe people are selling CHNW now...bizarre indeed...Anyway, maybe late trading will kick it up a notch...
WOW - that's hilarious BJT!! You crack me up, man. btw, I accidentally bought LEND today and lost $230 before I could get out...oh well. Lesson learned, and it could have been worse. Atleast CHNW is giving me some green today. It's great. CHNW will uptick once and my portfolio goes green regardless of how my other stocks are performing...
PDGT is dropping some today - it would be a good time to take on some shares if you can spare the money and are looking from some place to stick for a while. I think it will bounce back a little bit in the near term for a quick small profit, but if you're looking big bucks, you'll have to look long-term...
hey man - one last thing. Since we're all sharing. I've got a couple extra thousand I just floated into my account - any stocks you think are going to jump soon or would be good investments?
thanks - I'm about to turn it in...but I did have a thought I would share. It's interesting that with PK's each stock gets a characteristic of it's own. DANS doesn't say anything for years, then post a "merger" and it's stock jumps like mad. On the flip side, one thing that I have to careful of is staying stagnant with CHNW. I posted last week in response to a "kid" who said that CHNW better deliver this FOREX software on time. I was like, "WAIT A MINUTE, don't freak out, get it right, etc." One of the problems that can develop on any board as we are seeing with CHNW is that when enough people say, "this company has never been late, it's never failed us, it's always delivered, etc" that people will begin to freak out if something is 2 weeks late, though if they stopped to think about it, it's okay. I think the Core shareholders are pretty solid but they are also spoiled at this point. The psychological side of that is that if CHNW ever delays something, I think I'm going to be poised to try to beat the sell-off, not that it means anything, but everyone around here is so stupid when it comes to stuff like that and they freak out over the slightest news. I'm going to be poised to sell and rebuy if something like that happens - just a thought. I hate it, but PK's are a weird and people get so skidish...another freebie. :)
Have a good night - I'm call it quits. btw, I had a green day today too - it felt good - Should be plenty more of those...
I may not be able to get to it tonight, but quickly I'd say it all depends on your risk tolerance. Sometimes bad companies make good stocks in the sense that they go up, whether it makes sense or not - obviously it's more risky if you aren't confident of the financials...but in the past I've owned stocks that I didn't believe in and they went up, while companies I did believe in went down - go figure?? I'll look into INXR and let you know what I find out...
I've been known to cruise around there a lot. I've used there level 2 pink sheets screen - it's not streaming, but it gives me a good idea of who stuff is situated. I'll write back later on that stock - I've gotta go into work and figure out our Capital spending @ work - if it was up to me forget manufacturing, they should be sticking it all in penny stocks - right?? :)
More to come - seems like the only time I get a second to write is @ midnight...
it's a good start today - GREEN!! Above avg volume...I'm watching this one today - especially if it gets in the 13-15 range...could really run after that.
unfortunately I can only post there if I'm a "premium member" - but I think I have my question solved. I'll call the IRS tomorrow to make sure, but I think I'm in the clear. As it is - as long as I make as many tax contributions as I "owed" last year then I don't get fined @ the end of the year. I still have to pay some small back interest, but it's worth it to me to hold my money and make a better dividend off of it. For example:
Last year my employer deducted $3,200 from my checks, (this is a long story, I actually claimed like 15 exemptions, but I got a "sizable" signing bonus to which they automatically, @ no cost to me, took out taxes for single no dependents which was the bulk of that) and my end of the year tax was like $611 dollars. The only amount the IRS requires that they receive in 2007 (so as not to fine me) is 100% of what my tax was in 2006 - or $611.00. So as long I make sure my employer deducts atleast $611.00 from my paychecks this year, then I don't have to worry about estimated taxes...that's pretty cool!
Did all that make sense?
I have an idea - let me know what you think. I did a quick calculation of what my Estimated Taxes would be if I made 30-40k this year in investments. the swing was like 2.5k or 7.5k respectively. One thing that I can do to avoid making estimated taxes is to change my w-4 with my employeer so they tax the crap out of me, there by making my estimated taxes for me. Uncle Sam just wants to make sure he has my money, he doesn't care from whence it came. That would save me the trouble of sending in forms, etc. I could just file single no dependants or something and have them take out like 250 bucks a paycheck of something and cover me. this way I avoid having to sell stock @ inopportune times to make estimate taxes, but I just have to learn to live more frugally - how does that sound?
On the flip side, I might make a lot less or a lot more, and then I'd have to do work anyway, either change my w-4 again, and wait to get that money back next year, or submit estimated taxes anyway if work isn't enough...I'm just kinda thinkin' outloud trying to make this work the easiest way that I can. This is the side of trading that I don't like...
I don't think we'll have to watch what we say - it was @ like 1:00 in the morning and there were only 6 sites listed as most active and we were the 6th...probably doesn't mean much...but I'll take it!!
btw, check out post #17695 over on CHNW - it's insightful and assuring. I guess I can't do the hyperlink because I a freebee, but I'll try...
http://www.investorshub.com/boards/read_msg.asp?message_id=17775553
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yes....not necessarily coherent, but awake...
I don't want to beat a dead horse on this one - but this is a good case study, so to speak. We could definitely learn enough over the next week to right a book if we play our cards right, or if we play them completely wrong - obviously, I have my preference. Let's stay in touch on this one. Having my shares frozen during the CUSIP definitely makes this next week very interesting for me. I've got some ideas - Let's stay in touch on this one. I'll call you tomorrow BJT, or you call me and we'll talk. I've gotta go into work to finish some stuff up tomorrow afternoon/night, so I should definitely have some time to chat, plus my cellphone minutes just started for the month. :)
This could be really interesting. We can't let regret slow us down. We just have to make lemonade - I know you know this, but I can't change the fact that I'm AT and you are ST, let's make this thing work and walk away like some PRO's - it could be something that we tell our grandkids about. We never asked for it easy...have a goodnight - hopefully we'll talk tomorrow...pleasant dreams to you and yours!
Edited message: updated: you and me both buddy - Oh well - do us proud. I've heard several confirmations that Ameritrade is locked for 3 days - I hate to say it, but I do hope it's a bust of sorts - maybe a DELLLAAAYYYEEEEDDDDD run!! :) I love you guys!
I'm with you on the Strategy BJT - I guess it all depends on what the run up is...it might be substantial and then we could get back in afterward for cheaper - we'll have to play it one step @ a time - but let's keep in touch on this. That is kinda what I've been thinking. Especially since I know I'm only locked out for 3 days (or so they say) and not like weeks or something. It might take 3 days to trickle all the way back down - I'll definitely not sell all my shares just in case. Maybe 60% and keep 40% for the ride so which ever way it goes I get some piece of the action - that is what PK stock trading books suggest - don't go all or nothing - the regret will kill you. I think if there is a substantial run-up before hand and we sell 60% then we have nothing to loose - if it doesn't come back down then we still made a sizeable profit before hand and we have 40% aftward to keep going up. If it drops like crazy we still made a good profit before hand that we can use to buy back in @ a lower rate or go play in someone else's sandbox and let the 40% accumulate. On the other hand, if it does nothing before the CUSIP then we'll just have to sit @ home and hope it stays high, but I think our hand is pretty much played for us -
any thoughts BJT??
btw - new strategy coming up for me (I know this is a surprise) - Once I finish running with CHNW for a while (I believe this would a terrible time to get out) I'm going to just start playing Dragonfly's and Penny_Ta's picks exclusively. We'll call this "The No-Brainer, Gainer" I'll stop thinking I'm so smart, whenever they alert, I'll buy @ a good price, sell out @ a peak and decide that night whether to continue the next or back out. This will require minimal time and investment and I might actually do better - I'll let you know how it goes. It might take me a while to get finished with CHNW, but I'll transition in. BTW, I don't mean completely out of CHNW, but I mean, play the peaks and rides until it settles down again after the CUSSIP.
Any bets on how I do?? Could be very interesting...
I mean, that's pretty much what I do now anyway, but atleast I'll stop pretending to be doing something and I'll stop just sitting there stairing @ the screen... :)
It's actually west elm - it's more modern that pottery barn, and much less expensive. Check it out. or maybe don't check it out - burn the magazine before it enters the house.
I just got some alerts about PNMS, about PPS being undervalued, etc, but my advise is to stear clear. It's already had a run up this week and I think people are just pumping and dumping. It may be true - but MM's will have their way and it's due a regression...If you can get in @ .003 then maybe, but I don't like it - that's another freebie. :) btw, I watched A good year last night - my wife and I have talked for years that what we want to do. To trade stocks and then to run a winery in France...come on!!
So BJT, if you make it big on CHNW - I want a winery in france...just remember...WINERY, FRANCE. thanks - did I mention that I love you??
I'm waving - where are the Mai Tai's??? What a rip...I've been robbed - another pennystocker foils me again. :) j/k
Related to EVSA, I think I played it pretty well - I'm still learning Penny stocks, which are much different than any other type of investing trading I've done (definitely a long stretch from Baby Birk and Mutual Funds). In this game demand is great, but you have to have compression as well - The stock has to settle and build-up momemtum for another run. I've been reading up on MM's and after a run - they have to make their money back. They do this bo spreading out the bid-ask price, etc. - so with EVSA, I played it, I think 2 days, but by that point everyone in the stock had flipped hands, a lot of greenshoots, and MM's were driving it down to get profits back. At that point, I usually bale out for atleast a week - keep checking to see if steam is building back up - but that usually takes awhile. I may be wrong, but EVSA seems to have really fizzled momemtum. You have to kinda go with your gut, I'll send you a tex when I'm getting back in if you want, it shouldn't hurt you, I'll probably only play it 1k or 2k to play the movement.
There's this psychological thing that I have to overcome that when a PK bouces for a week, I think it will continue and I'm almost disappointed to the point of trying to make it move by trying to get back in - WRONG IDEA. MM's are too powerful and they'll make you look like an idiot. Next time I'll just give the money to BJT and tell him to buy fireworks with it, because it would do me about as good. EVSA might have a few jumps, but Volume isn't there yet and so the "closing price" can be misleading both ways - sure it goes up 40% because someone bought 20k shares at the close - big deal. That's not a true picture. I'm standing @ arms length from EVSA and a few others right now to keep my capital flowing and growing rather than sitting and shi..... well anyway - you know what I mean. (btw, that's a good line, I should copyright that...)
I missed the RGNO run - didn't have any capital, but I suspect it will bounce around tomorrow and maybe the next, but I doubt it will be much to write home about this next week and it'll probably settle for a few weeks after that. Friday was the play day, and if you miss the ride, you gotta wait another round. Just my thoughts. I think EVSA needs some time to build. Just check Dragonfly and Penny_Ta's boards - they have a good handle on what's about to pop based on the things we've already talked about. Why go crazy when they can do the research for you??
btw, you guys pray for me - the Wife is making me watch Romeo & Juliet (leonardo DiCaprio and Claire Danes style). Marriage is a wonderful death...but atleast I'll get some afterwards... :) My life is awesome right now btw. Everything is going great - I'm taking some of my profits and buying a Metal Canopy Bed - Gunstock finish - Ikea meets Pottery Barn, so all is well in the Cooper house. You have to let you wife partake of some of the earnings and then they will be Full-board wanting you to keep trading. Just a freebie...
Good to have you on board - stop by anytime and if you are in Cookeville, TN ever, stop by and we'll have a round of drinks and talk stocks.
Related to CHNW, from my perspective, (which I'm newer @ CHNW than BJT or strong) I see it as one that will go up over the longhaul, while some of these other stocks I'm not too sure. I've taken quick profits in EVSA and others and I think they'll do well but I'm not convinced that it will continue to grow like CHNW. That being the case - If I "get back in" a little high, I know I'm okay because within a week or two, I'm back in green land and I can cash some out and play the up-down stairstep game again. So my strategy related to CHNW is simply all based on liquidity...how much free cash I have to chase other quick profits. I've flipped CHNW a couple of times, right now I'm waiting for the next big jump and I'll probably get back in with more stock, but still keep some cash to dabble other places. I feel confident that I can get back in on a 50% dip and make a profit in the near-term, but I get tired of watching all day long - and see it do nothing. The other day I got tired of CHNW, had $1,000 and flipped EVSA twice and made 1,400.00 and that got it out of my system - I just needed to do something instead of going crazy. Now I'm getting tired of watching CHNW again all day waiting for the CUSIP jump. I think now is not a good time to give up on CHNW though. They have a lot of news coming out now but it will have to slow down by Summer or Fall - though there are still other lines of businesses they are pursuing, but it takes time. I think take some profits in the CUSIP, by back in with an amount you are willing to wait on for longterm profits and day trade with the rest.
Too many people are waiting for that .0001 cent stock to hit 10$ and walk away with millions - I find the quicker way to profits is to flip while still keeping a perspective for the longhaul...I have to keep my edge and to do that I have to walk away and make money other places sometimes. That's just my opinion, for what it's worth...(nothing. :) )
I'm not sure if this has already been discussed, (I read a lot of the posts but not all of them) but is it possible the MM's that we are talking about being on board (first 2 MM's and then 3-4 MM's) be related to the new Forex platform Esprit is introducing. In studying up on Forex, it's a market that employees MM's and they usually use a sophisticated software package to keep track of everyone's positions and close out clients positions on Margin. It just occured to me that for the company to say, "we have 2 MM's on board" could very well mean MM's that are already interested in the Forex platform or being willing to recieve orders from the new product that Esprit will be offering. The one area I know the least about is the next Forex package that is coming out, but it seems within logic that it could have to do with the Forex product and not necessarily SS the stock and keeping prices down. Being an accountant/financial Analyst and being involved in implimenting SOx at a large company, to say you have two MM's on board when it comes to stock prices sounds suspect. Not that I doubt the company, I'm in long, I'm just saying, I can see a company telling stakeholders they have MM's on board for a Forex product much easier than I can see them talking about haveing MM's on board related to how the stock is trading. MM's are in it for money and I don't think they would just decide to oblige the company and not short it, but I do think they would use our product or recieve orders from our product - does that make sense? Maybe I'm just late on picking up on this, but from earlier posts I was led to believe that traders were thinking differently? Any thoughts?
Even if they miss timelines I'm on board. Have you guys ever worked for a Fortune 500 company - hardly anything ever happens on time. But they are keeping us informed, they are producing beta versions, etc. If they come out and say, "We have the kinks from the BETA version of Forex almost worked out be we need another month to get it perfect - we're really excited about this thing and it's going to knock your socks off..." Yada Yada Yada - I'm happy. I'd rather be a month behind than put out a crappy product or something with kinks that causes Esprit to get a bad name. No way man - I want a good product that will be something that people want to own and that takes a market Niche - I don't care if it's on time or not. Just keep us informed like you've been doing and eventually put something special on the market so you can "make some MONEY!!"
I gotta get a little better at this trading thing - I'm sure I'm gonna lose sometimes, but you have to take chances, just not make a habit out of loosing. I got some shares of CHNW I tried to sell today. I could tell by the L2 that it was pretty deep around the bid/ask and it would probably bounce between 10 and 12 all day. I tried to sell @ 12, knowing I could probably get back in @ 10 or 11 @ the worst. A couple times it went to 12, but my shares never left the cue - they were only really really small buys - 75k shares or something - like 75$ or something. It would have been a nice flip, but it didn't happen. HOWEVER, it showed me something that I'd missed up until now. So often the "price" is decieving. Someone can sell 10 million shares for 11 and someone else can come in and buy 75 thousand shares for 12 and the price goes up to 12, but it's probably not an accurate reflection of what the market really represents. This up coming jump with CHNW It might jump to 5 cents or something, but how many shares actually exchange hands @ that level. Everyone looks @ the high for the day and says, "man, if I had only sold my 25 million shares @ 5 cents, I'd be rolling in it, but probably it was in the thousands of shares that actually made it up to 5 cents, probably most were bought and sold that day, @ much less a price.
It made me want to research the jump that RGNO did a little while back when it went from .02 to .27. Is there anyway we can get ahold of the daily trade activity detail to see every share that changed hands @ what time and price. I'd be interested to chart for my own records and see the "bell-curve" and where most shares were bought and sold. If I looked @ enough of these runs I could estimate where would be the ideal place to unload 1 million or 5 million shares, because if everyone is waiting until the top, there is probably some demand, but not enough and then everyone will try to unload on the other side and maybe my order get's filled and maybe it doesn't - but that's not really my concern, it's more scientific to see where the bulk of the shares get purchased and what kind of money really comes off the table. Does all that make sense - where could I find the trade detail for Feb 15th when RGNO made that run...? I'd like to look @ every trade - a lot of times I've seen people post it @ the end of the day, especially when it makes a dip or a spike @ the end - they'll copy and paste in the detail - showing how it drop in the last 2 minutes or whatever. Anyway - any help would be much appreciated.
From my experience in finance, I can say without a doubt financials are not what is keeping this stock down. Heck - Amazon went like crazy for years without ever posting a profit and they were issuing stock like mad. It doesn't take you long to find plenty of companies that have the same track-record. YES, eventually you will have to make a profit - no doubt about it, but if you are waiting until they make a profit to jump into a stock then you have jumped in WAAAAYYYY too late. Being a fellow Tennesseean, I won't hold it against you, j/k, but I don't see it being financials. There are plenty of companies with less vision and worse financials trading at much higher prices than we are seeing. Just give it some time..