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Had some weekly puts last week. Ouchie. I am just thinking month and a half ago when markets were still within few % of all time highs NFLX was 290. Then from 230s lows in 16 trading sessions it didn't really have a red day, just paused a couple days for near even close. Now earnings weren't great. Would think big money behind this that pushed it up will be looking to cash in. Hard to see this continue upward but its a cluster f of a stock sometimes so who knows. I'd be willing to lotto 335 puts expiring tomorrow if it sees 345 near open and hope for steady pull all day to 320. 320 even a week ago seemed ridiculous.
Fingers crossed they save this for a descent open. With the revenue miss and stock up from 230s a month ago they could sell it down all day. Want to nab some otm puts near open but not if it gaps down too much.
this bounce to near 50 dma indexes looks like good spot to sell or start establishing short positions. SPY/QQQ could try for 200 dma but given whole picture seems like finally good short swing opportunity given r/r. First time in a decade? I know there were a couple times 200 dma failed followed by big reversal but not sure likely here.
you are right some brokers that offer free trades do screw you by only executing your trades when they have off setting trades to make $ in the spread. You'll never be able to buy bid or sell ask.
But not all. Some brokers that do banking and lending will give you descent fills and good platform to trade on if you keep high balances. They make their profits using your $. With fractional banking a 500k balance could be good for 5M worth of mortgages which is a lot more money than 10-20 trades an average investor might make a year.
Oh yeah. Can't forget GM when it had a Q. I was trading it a lot. Then during slower time decided to grab food. Came back to it halted and couldn't believe my fortunate as was totally flat with 0 shares. Day before it unhalted 80,000 shares got deposited into my account and stock opened 70%+ down costing like 75k or whatever it was.
Also AMRQQ. Was in pretty big right near lows .22 or something. Outed for huge gain on most .3-.4. Then couple days later when its over $1 they came to tell me I was short since they decided to cancel my buys haha
Oh but regulators did step in eventually.... After my old broker ran off with all my money and left me with nothing SEC decided to put out rules to restrict otc/pink sheet trading with 10% daily volume and think was it 10% 20 day avg volume or whatever. One of my side accounts had a couple positions with about 5k of a .01 stock. POS one day totally took off and went to .28 over couple days. So from being broke went to having well over 100k. Thanks to new SEC rules to protect me I could only sell like $500 day 1 then like 1k next day. I might have cashed out 3-4k when could have got 50-100k as stock collapsed back down few days later and volume died. So yeah thanks regulators!
Yet every time I got robbed they wouldn't even bother look into it. Even the broker that robbed me they wouldn't have gone after him had I not aggressively kept pushing them. FBI agent told me wait so you telling me you only lost $150,000? Thanks not very much for us to use our resources lol Eventually they picked up the case as I got contact with other traders who lost money after posting my story on ripoff.com
Have to is the key word. Doesn't mean they do. Even when laws are blatantly broken they aren't always enforced. I have all kinds of stories.
Was trading Cryolife and it broke neckline signalling big break out. I went in a huge position for me 50,000 @7.6. Stock slowly kept grinding up and when it sped up into 8.4s I put a sell 8.6. Stock peaked 7.48 and started dropping so I cancelled my order. Hours later into close it started spiking went through 8.5 really quickly though 9, 10. Closed like 10.5sh I am bouncing off the walls in disbelief, was my biggest trade ever. Then within 10 minutes afterhours it goes through 12 and right for 12.5 which was big peak spot from before. I go to sell and all the sudden out of nowhere 15 minutes after market close 8.6 sells pop up. Furious I called broker who called the ECN. ECN said my order was never canceled although I have screen shots of it being canceled without ever reaching the price(still showing in my account). And they pushed the fill hours later, had order been open and filled I would have rebought. I complained to SEC, NASD, clearing firm, broker. Threatened with lawsuits. End result I was blindly robbed of $200,000.
I also would do ECN rebates on locked up price stocks say .10x.10 and would do 250k-500k orders for .004 rebate. A few times when I was best bid out of nowhere they'd fill me and charge me .01 costing thousands of $s. Blind robberies that no agency would look into and enforce blatant stealing.
About 6 years ago a firm I worked with stole all my money among many other traders and I lost almost everything I ever worked for. Filed complaints with SEC, FINRA, FBI, IC3, NY AG. Was on a first name basis with FBI dealing with them for over a year. Although the guy eventually got charged to this day hasn't spend a day in jail.
Also had cases where $ just disappeared from my brokerage account with no trace lol
All that stuff I had no control over. When still young and having build up accounts my pink sheet learning process involved drinking kool aid. Company OMOG cost me over half the money. Michael Barnett was the guy I believe. Idiot that I was wrote him. Got his #. Got sweet talked and lied to and believed. Which led to a total disaster.... I moved on, guy eventually got popped trying to lure underage girl and got jailed.
So my point in all of this is I lost huge on pink sheets before and learned. While my loss could be attributed to a scammer IT WAS ME WHO MADE THE DECISION TO BUY, THEN ADD, THEN ADD MORE. CONTINUE TO BELIEVE THE LIAR. IT WAS ME WHO INVESTED MORE THAN I SHOULD HAVE AND IT WAS ME WHO BROKE EVERY STOP LOSS RULE I HAD. In this business been robbed enough money to be retired by now and in ways where regulations and regulators should have protected me. But they didn't. So when people take risks with money they can't afford to lose and don't take losses when they should I have zero sympathy for them. They put themselves in that position. Anyone with half a brain if they did any research of pinks would know what they getting into. If they choose to ignore the risks and not follow basic rules they have no-one to blame but themselves.
When a mutual fund is about to start taking up a big position what regulations are going to catch its managers and their friends from front loading in off shore companies that can't be traced back to them?
Its a shady landscape from pinks all the way highest levels. In many cases watchdogs are the very people enabling scams by design. Why do you think HFTs are legal which is blatant front running? How come SEC doesn't set good laws and enforce them? How come exchanges allow certain interests to set their servers so they get to see order flow and act on it before it hits the exchange? How come people running exchanges and representing big brokers run FINRA and other regulatory bodies? In many cases regulators work for big money interests rather than for everyone to keep markets fair. Fox guarding the chicken coop...
When a mutual fund is about to start taking up a big position what regulations are going to catch its managers and their friends from front loading in off shore companies that can't be traced back to them?
Its a shady landscape from pinks all the way highest levels. In many cases watchdogs are the very people enabling scams by design. Why do you think HFTs are legal which is blatant front running? How come SEC doesn't set good laws and enforce them? How come exchanges allow certain interests to set their servers so they get to see order flow and act on it before it hits the exchange? How come people running exchanges and representing big brokers run FINRA and other regulatory bodies? In many cases regulators work for big money interests rather than for everyone to keep markets fair. Fox guarding the chicken coop...
You are against hedge funds but mutual funds pull that crap too. Also front run ahead of their customers among many other things. When it comes to markets its corrupted from grey sheets all the way to the fed.
You are an investor not a trader. There is a big difference. For most people best idea would be to have a normal job and slowly put away $ into index funds over 20-30-40 years to build a nice nest egg. Those that need income now and don't have massive accounts to work with have to trade to make bigger %s in shorter time frames.
95% of day traders go bust but good ones survive. I know of a bunch of day traders still around from early 2000s. Most don't come to ihub anymore as its infested with horrible users and chats are much more efficient getting information out. Doesn't hurt to have 500-1,000 traders in a chat either as when some big news hits or something happens you'll find out about it in seconds.
I don't come around ihub much anymore. Its a mostly useless platform for me. Do pop up once in awhile if I pick up some pink swing and check up on old friends.
Here is Mr Cramer explaining how your real companies are traded. No manipulation, lies or any of that....
"It involves working as a team to manipulate stocks and lie to people."
If you are good trader you don't need a team or lie or manipulate anything.
Funny you talk about "real" companies and big board stocks as if they aren't manipulated. They are manipulated all the same with "analysts" putting out ratings, all kinds of misleading articles. Rumors spread to trading desks so stuff gets passed down to trading channels on tv etc. Hedge funds working together to manipulate prices. Also lets not forget all the algos, hfts, etc. 80% of "real" big boards volume is all computer generated to rip off traders. And there are plenty share selling scams too with a number of big boards being RS repeat offenders as often as every few months. Even weeks. Sooo.....
To finish this up current pink sheet trading platform is old nasdaq platform from late 90s and early/mid 2000s. If you are day trader and understand how orders are prioritized and filled you can have an advantage with your knowledge. There is no need to lie and manipulate. I never, not even once worked with any group. I simply find it easier to trade against humans than computers. If you can't understand that then obviously you have no clue what real day trading entails.
p.s. I get this turd wasn't a day trade but we are talking about trading pinks. I rarely ever swing anything and try to stay as much $ as possible day to day.
"I buy quality stocks with earnings and preferably dividends."
Thanks for clearing it up. For a second I thought you were seasoned otc/pink sheet trader that knew how to trade. Oops, was I wrong. Since you don't know how to trade and lose money you go around discouraging others from trading. One of them class guys lol
Nothing wrong with your investment strategy in good big boards. Its just either a decades long commitment slowly putting $ away monthly and hoping to save an egg nest for retirement or you need to have very sizable savings to live on 10-15% a year.
You need to understand some people are skilled and trade for a living. OTC and PINKS included. There is a 100 ways to skin a cat. Just because what you do works for you doesn't mean it should apply to everyone else. You might avg 20% a year if you are way WAY above avg investor. CMKX was good for an easy short term 1,000%.
"However, I did so without having to make money from it"
Considering this is investorshub goal here is to make money and help others along the way. You either missed a huge opportunity or have some serious issues as a trader.
Sure we have different perspectives but a 6+ figure gain is a very big positive. Sucks some people are gullible and drink the koolaid but its not my fault. I bought and told people on this board reasons for buying and selling when I did. In fact told the board to sell upcoming pump before it even happened and was chewed into @$$#o(#. Now I am supposed to feel bad people lost money? Same people that treated me like chit, called me names among many other things?
Sorry for lost money here but I did try to help and give heads up to best of my knowledge. Could careless what you think, I called it like it is(was). And was 100% right on. Made $ and tried to help others. Yet you still have an issue. Like I said you can bring horse to drink water but can't make it drink. Perhaps its time you stop beating a dead horse.
actually I bought 120. I had 100M in Ameritrade and 2M in mytrack. Mytrack had 1M per order limit so I didn't buy more until .0001 ask started thinning out.
Bought .0001 because a lot of .0001 stocks were hot and this stock had a big following. Figured they'd do a pump at some point which they did. Nothing wrong with that.
Same as promoters and scammers take advantage of pink/otc investors bigger players do same thing with big board stocks. Spread rumors, use large amounts of $ to manipulate price, etc. Your job as an investor/trader is to figure out whats happening. I paid my dues along the way learning and losing money. If you don't like how markets work don't trade.
looking good. Holding a few from .13s and some adds didn't from .18 last dip. Been trading some around core since. Through 5/10 day moving averages and all the delist and bk sellers gone. Time to buy/add dips, likely sees .50 or better near term.
there is a saying you can lead a horse to water but can't make it drink. Don't need to be a humanitarian towards people who aren't willing to listen or help themselves.
Scam was so obvious. Company had no revenues or any real business and they were spending millions advertising on nascar and wherever else. Doesn't take a genius to realize they were advertising to sell shares.
Oh wow fkn CMKX One of my favorites ever. Made 6 figures overnight. Best part was after I bought 120M shares .0001 kept telling everyone it was a scam and to dump eventual pump. Got labeled a basher, a liar and worse lol
SHLDQ traders here don't need merchandise flowing, vendors staying or other fundamental worries to make money.
Almost every big BK delist over last couple decades ran for 500-1000% from lows or BETTER regardless of fundamentals. Not sure why you believe Sears will be exception to the rule.
"fake" pop lol looking very real to me
don't worry he'll chase back .20 and scream buy .25-.30
Same here. Bigger names are always sweet. Bigger following, more shorts and more liquid which makes trading some size easier.
Washing mutual, blockbuster, enron, etc etc All the big ones were amazing plays. This should be no different.
This hasn't really traded sub .30 until last couple days and only few hours sub .2. Almost everyone stuck way higher. One more big flush from these levels would be a big gift.
haha never say never. I remember following a Q for couple years and they released news delist/cancel that day and shares worth zero. Stock jumped .01 to .05 dips .03 and I am thinking this is crazy. Then it ran to .10, .20.... Towards end of day made another run and closed at $1.00. 10,000% intraday run on shares getting canceled and worth ZERO. lol
Stranger things have happened. 150% run for Q stock is peanuts. If you dug up last 100 Q stocks I guarantee you'll have trouble finding ones that did less than a triple from lows.
nice man, long time! don't come around ihub much these days. mostly in nates chat and pm live with other traders. msg boards take too much time.
Got small nibbles .16sh here but will be watching close. Hoping for .10 area but who knows. Tomorrow being Friday could be another ugly day so being cautious.
As most other BKs funds just sell everything at any price once on pinks. To them .10 or .20 is irrelevant as their tax loss write-off dwarfs pennies given they in this from way way higher. Once they'll blow out their positions there will be no sellers left. As bouncers and shorts that haven't covered yet step in this will bounce nice. Good luck!
There is always a group of bone heads saying this crap after bk delist to pinks. It takes a long time, sometimes even a couple/few years before restructuring or liquidation finalizes in court.
I been trading BKs for almost 20 years now and they consistently been some of my biggest winners. They are super predictable. After delist to pink many funds are forced to liquidate as they can only hold listed stocks. Prices crash then recover.
Even biggest scams like Enron and Worldcom all bounced 500-1000% or better. Sears is a well known company, just a retailer that hit tough times. It will bounce huge, only question is from where. Would love 1/4 mil shares .08-.10 for an easy double/triple.
You just reiterated my point that its a margin violation. "They'll just likely force cover him and give him a massive margin call as he didn't have enough $ to cover the trade."
Although trader sold shares he didn't have the position is net 0 once he buys shares back. They aren't going to bust bunch of trades and randomly penalize people that bought them legitimately in the market place.
Having been in a similar situation first hand I know for a fact you get to keep the money. Same as you'd be liable for a loss even if the trade came about with broker allowing the screw up.
so what that its a naked short. Doubtful they'll bust that trade as those shares were likely traded back and forth by many other day traders and investors at this point. They'll just likely force cover him and give him a massive margin call as he didn't have enough $ to cover the trade. But he'll likely get to keep the gains.
I was in a weird play maybe 15 years back where dilutor sold shares after massive reverse split but before a forward split. Think there was 11 total shares and he sold 100,000s. After forward split think I had $2.4M position and sold like 30k worth and everyone on message boards were screaming sellers will be force covered leading to massive short squeeze. Got scared and didn't sell anymore as was afraid to lose money I had. Had I not had much net worth would have sold all and hoped for the best. Worst case end up bk but if you had no $ to begin with worth the risk given possible gains. Few days later trading was halted and never resumed. My account was frozen for a bit but eventually my sells stood, got to keep the 30k. There was a guy that had just a few k $s and post split ended up with 1.5 million position that he sold and got to keep his money.
think you are only proving the point why people play garbage like this. ASTI bounced .02s to .08 on way down after a quick drop from $1+.
Pinks aren't a MSFT or AAPL type long term investments. Its a short term trading vehicle for big %s.
thanks for pointing that out. Going to stay nimble for now.
Its got to be close judging by volume but clearly diluters(MAXM OTCX) aren't done yet. Hopefully another good pull tomorrow to grab a couple milly for quick double/triple.
AS increase would be show stopper too, everyone that bought maxed out AS would run for the hills on news. But whether AS increase or RS its same thing. Its not going to happen overnight and there will be a time frame where diluters will be out of shares allowing time for nice bounce.
it is possible but there would have to be a vote. Given preferred shares have multiples x vote of the commons they can do it themselves without bothering to ask shareholders. Whether AS increase or RS fundamentally its samething...
he is trying to sell his services and he can't be wrong so on every stock he posts he is basically saying well XYZ will be UP if it goes through this line up here... Then if it goes through this line DOWN here it'll be down and red lol Very objective! Stock going lower will be lower and stock going higher will be higher. lmao He is selling services to teach you, but doesn't trade pink on his own expertise. that should tell you enough.
hey Clay how come you don't trade pink sheets based on your own talking points? Is it because you are terrible trader and tired of losing money or because you are just interested in selling your services "helping" others to trade?
AS here is 200M shares. Stock has traded 140M shares last 2 days alone. At this rate whatever diluters are selling will be blown through within next couple days. Looks like they are raising $8M which at these prices 200M AS not going to cut it. RS will happen at some point but it doesn't happen overnight. Chances are nice relief rally at some point within next few days. Will be looking to buy dips/flushes next couple days for a short term swing play.
way to point to a drop from .12 to .08 and how big a drop it is then point to .03 to .018 as how its "leveling off" going sideways. .12 to .08 is 33% drop. .03 to .018 drop which you say is leveling off is a 40% drop which is considerably more extreme drop than .12 to .08 lol
But we had discussions before. You actually don't even trade pink sheets, only sell your services to help people trade... LOL take your spam elsewhere please or at least post something of substance
way to point to a drop from .12 to .08 and how big a drop it is then point to .03 to .018 as how its "leveling off" going sideways. .12 to .08 is 33% drop. .03 to .018 drop which you say is leveling off is a 40% drop which is considerably more extreme drop than .12 to .08 lol
But we had discussions before. You actually don't even trade pink sheets, only sell your services to help people trade... LOL take your spam elsewhere please or at least post something of substance
There is one T trade for 4,000 shares. About $79 worth. Are you saying one of the insiders dumped almost whole $100 worth?