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That was my problem. I thought FINRA cleared transactions also. Thanks again.
Yep, a gap is a gap, some above and some below. both need filling.
So I was correct FINRA is also a clearing service, like Penson and the like. So they do link data to the DTCC as the central location for info.
So where is OTC markets business model getting revenue, if it doesn't charge for it's quoting systems use? That sounds like Google supplying ads for free.
Thanks for the help clearing things up. I was thinking OTC Markets was owned by a broker/dealer firm, so was a member of FINRA. And Thought all clearing houses reported trade data to the DTCC for settlement and the DTCC provided market data to the fed as a central location for market transactions and settlements info.
For trading under qualified public company stock. Which don't have strong enough financial strength to be safe for national trading exchanges, like the NAZ, NYSE, American, there are several electronic systems for them also.
It's called the OTC "over the counter" trading market. With in this electronic trading market was the OTC BB "Bulletin Board" & Pink OTC or Pinksheets. I think late 2000's an outfit called OTC Markets popped up and took over Pinksheets. It reported the OTC universe in tiers or levels of startup company reporting transparence. The OTCQX, OTCQB, OTCpink.
So there remained 2 inter broker/dealer trading systems. Which belonged to FINRA. So happens the OTC Markets front and back end systems were more evolved electronically and started to dominate stock trading of OTC "over the counter" penny, sub, and micro stock markets.
FINRA It is a non-governmental organization that regulates member brokerage firms and exchange markets; "OTC electronic trading systems." And basically their saying it's not worth clearing OTC BB transactions any longer. They stopped clearing Pinksheets when OTC Markets started, 2008/9.
BigBake1 can probably correct any errors I just posted. There is also a link between FINRA and the DTCC for clearing and settlement services. But basically, the OTC BB and OTC Markets belong to FINRA's organization and are 2 different electronic trading systems, Just like the American and NYSE. Think of it like the big boards and the little boards. And FINRA is thinking of closing one OTC exchange again. Just like it closed Pink OTC, years ago, when OTC markets took over Pinksheets. And Pink OTC inter broker/dealer trading systems was closed. This will leave , 1 OTC trading system. Owned by OTC Markets, belonging to the FINRA organization.
LOL 1 entity is not much of an organization, is it. LOL Buts that's the way of big money! Central control. A new world order one step closer.
http://www.otcbb.com/
http://www.otcmarkets.com/home
Basically FINRA is saying; OTC BB "bad" OTC Markets, "good". But the PR doesn't really say why! It infers lack of use. Using smoke and mirrors tactics. At any rate, all you pennylanders will still have a place to lose money at. This news is about who is killed off and who lives.
Not sure this PR isn't all smoke and mirrors.
Yea I've been thinking about what's going on with the OTC, since I saw Asher start closing out startup ownerships. Then notice the number of pump & dumps fell to nearly Nell.
A few weeks ago, I found that the amount of market makers has been dwindling since the tightening of Reg SHO, in 2008. When I started trading 2004/5 making market at the OTC was in vogue, with naked shorting running wild and most every broker having a OTC broker/dealer wing of their business.
OTC BB
2006 there were 222 market makers and 50 now. Pre 2006 there were many more. Post 2014 there may be many less. LOL zero
https://www.otcbb.com/dynamic/tradingdata/marketmakerspositions/mmakersdata.htm
OTC markets
Shows 60 broker/dealers now.
http://www.otcmarkets.com/market-activity/broker-dealer-info
Wikipedia
Last weekend I was suppose to look at some double zero OTC stocks and didn't. Guess I have to take a closer look at the under $5's, if the market is done poo - pooing on us, this weekend for sure. Need a new watch and strong watch list, after 4 weeks not trading individual stocks.
I see the emotion, not the chart pattern, to trade. And the emotion was not on news. My question is why like it. I personally don't like emotion on the big boards, at all.
Here's a list of under $5 Stocks working on a single bottom bounce, with a day or three green. Just like ANR & CLF, just brought to the board. Some need to get back to a buck, before delisting problems. They usually move first. And I only checked the first 100 of 945 stocks.
http://www.finviz.com/screener.ashx?v=141&f=sh_price_u5&o=perf13w&r=81
Check the charts;
FREE
VPCO
FST
WLT
AMZG
LEDS
SARA
HK
MPO
ZBB
FWM
CERE
BPZ
MM
VTG
EOX
GST
MDR
NAK
Some, I've played earlier in the year. This is what we have to look forward to. If thing work out. Just think of the other 845 not checked. It's all only potential now.
One step at a time. Have any idea how many small caps have that exact pattern. More then I have fingers. If the market bottom is in, the Russell 2000 bounce will continue and we won't have any trouble finding stocks to play under $5. First the trading sentiment change, needs to change the investment phycology. Then comes the comeback climbs. One step at a time. Is all I'm saying.
And in CLF's case, volume is already falling in the climb. You may eventually see $15, as there aren't any real resistance level going up. But I personal wouldn't call for the top, before it has some wind under it's wings. Complete come backs are the exception to the rule. Not a given in any case.
CLF good prospect. As with many small caps right now.
That's called a pop. The run is to follow. Needs to break .002 first, maybe .0015 for early entry. Either way darkside doesn't signal it's intention to run it, till 1st resistance is broken on increasing volume. On top of too early for entry now, we have my "Rule of Thumb" 10 mil average daily "retail interest level" volume needed for the darkside to start a new run. They need enough suckers around.
Yep you missed the pop. But it got your attention.
Then here's the trade plan.
Russell 2000 small cap reached 10% correction also. It's bouncing now. Also helping with comfort for a new bull decision to get off the fence.
VIT
http://stockcharts.com/h-sc/ui?s=VTI&p=D&yr=0&mn=3&dy=0&id=p54750833235
$RUT
http://stockcharts.com/h-sc/ui?s=$RUT&p=D&yr=0&mn=3&dy=0&id=p58046625987
Also FAZ shows the red day reversal signal;
http://stockcharts.com/h-sc/ui?s=FAZ&p=D&yr=0&mn=3&dy=0&id=p62793148754
Yes bottoming is a process. The signs are there, now need the follow thru. Why I called attention to the signs. A bottom may be coming next week. That's why I'm using Ford. My first post about Ford gave reasons I decided to use it as a bellwether coming out of the market pull back. Has to do with the dollar, multi-nationals, ETC. They noticed the quick change in growth trends. And actually, kind of, caused their own stock fall by reporting it. On the Sept 29th dive day. Leading the S&P fall by a week.
http://stockcharts.com/h-sc/ui?s=F&p=D&yr=0&mn=3&dy=0&id=p91206478371
That's the next real concern. Unlike this pull back, based on technical timing and HFT. A global slow down, should take some shine off the US good earnings expected. But I'm hoping for some US Market comeback time, before any need to worry about that.
If Ford (F) holds tomorrow, I'll go out on another limb and say we have seen the S&P bottom. In the past several weeks, I used (MSFT) Microsoft for calling the market top and am using (F) for calling the bottom. MSFT was leading the S&P on the way up. And F has been leading the S&P down. I played MSFT correctly and plan to play F, once the bottom confirms, there.
Looks to me MSFT is showing a bottom now, with large bottom emotion gaps and candle spikes.
http://stockcharts.com/h-sc/ui?s=MSFT&p=D&yr=0&mn=3&dy=0&id=p63833654282
And F held it's retrace, during the S&P crash and starting to channel. With a nice positive 5th day candle today.
http://stockcharts.com/h-sc/ui?s=F&p=D&yr=0&mn=3&dy=0&id=p02414906240
So MSFT is indicating an emotion bottom and F indicating a channel bottom. MSFT lead the S&P down. I expect F to lead it up.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p44045274001
My next play is Ford, then MSFT again. If the Ford basing channel holds with a second positive candle tomorrow. Monday should be up and if that happens. IMO the S&P bottom is in. Ending with a 8% pull back, just short of the 10 to 20% correction all the talking heads are pumping. Yep, I'm on the bull/bear fence again. May re-enter bull thinking mode soon.
As I just posted, IMO some trading house tweaked it's HFT front trading algorithms and cause the 4 day crash from 3% pull back to 8%, because of the Ebola scare giving them the perfect excuse too. A let retail eat cake, move, by the market queen. LOL
We'll see. IMO watch Ford the next few days. And also MSFT, to fill it's gaps above. If Ford turns Next week. Changes there will cause me to leave FAS/FAZ. The plan is F, then MSFT, then off FAS/FAZ.
Mean while all my OTC watches are scat, laying on the stock yards, ground. Still waiting for a new trail master to herd them up and move them out. LOL
Off topic: But it's my board. LOL So I figured I'd show readers what I've been working on this past weekend, till yesterday.
I found a lot for sale in Atlantic City I'm interested in, recently. And decided to design a small beach house for it.
Daughter is working at a design firm in down town Philly and I decided to learn a little about some design software. Found Google Sketchup, an amazing free software package. And used it to create this. If you like creating things and have been putting your stuff on paper. Try this software. Only took a few days to learn the basics and a few weeks, to get good with it. Fun hobby if your a creative soul.
It's a 40' x 50' steel Quonset hut shell for sale at Ebay for under $10k. The lot is 60' x 105', with 2 small lots along side. I spread it out some. With a 10' center hall concept. Just finished the mechanicals last night, not in this video. Love Sketchup !!! I used OCam also free software, for screen capture video.It has audio, but I didn't describe anything during this video. You can though.
OK back in the day, Pennylanders use to say "so what" if naked shorting is so prevalent. And the retail fleecing continued. After 10 years, the SEC finally was forced, by demand to close it's shorting loop holes left for the rich. And less pump & dumps, resulted.
Now days, big boarders say "so what" if High Freq Trading is so prevalent. And the market crashes again. The past few days was stop out algorithms, front trading your market. A completely technical move, NOT fundamental.
Investors don't change mindset that quickly. Panic is only the word of the day, at the OTC. Investors invest on research. And results of research is and has been positive. Behind a HFT market.
I've been a bear ever since I noticed large price swing volatility. Not because fundamentals are poor. Still the rich are getting richer. Trading houses are increasing gain. IMO FAS/FAZ my friends. Until the big guys are done screwing with us again.
Along with Vote all incumbent out this Nov. I'm back on getting the SEC to regulate HFT (high frequency trading)!!!!! Markets don't just dive over 5% in 4 days. Without big money HFT algorithms, front trading, your market.
We reap what we except.
Want less volatility?
Stop excepting high freq trading!!! Contact the new political representative you soon will be voting in. LOL Force change. A 100% change in phycology has not caused this! It's only the sentiment is being lead up & down daily, by front trading computers.
Ps, I haven't sold FAZ this week yet. Yep, stopped day trading. Haven't had the need to be around much the past 3 days.
oops just closed FAZ for 7% in todays EOD rally.
LOL is everyone happy the HFT computers brought the "everyone is bailing phycology" back to near even this afternoon. Bull chit, it was computers. Look at the bull/bear sentiment. Price ran, but sentiment didn't run into close. IMO the computers are leading retail by the noses, like cattle. Look at 11am to 12. Which lead which. Minds change when computers control.
We are victims of HFT, not beneficiaries of it's liquidity.
HFT, contact the SEC and force change.
PS; I closed FAZ at EOD 1855.
It's still on watch.
The bottom channel is forming.
A 10% fall in the S&P is a correction. When corrections happen. Big money buys. I wouldn't worry about the end of the world, because big money rules it !!! All that happens is the little retail guys get screwed again. Just like every other financial down turn.
You can bet big money was the first to leave. They caused the correction. They will be entering at the bottom turn first and cause the come back. As sure as the sun rises!
HFT, contact the SEC and force change.
WOW didn't expect S&P fall that far, when I went out this morning. Broke the 6% pull back line, ouch ! On a good note, I wasn't around to close FAZ today.
MY ERROR the PR was SEPT 3, not today. I just found it today. My mistake. That 1 PR explains the climb so far. Todays action may be the start of step 2, month 2.
PS; TSPG play at your own risk !
TSPG chart
Haven't seen a chart with all the OTC game signs in it, for many many months. This one had a Pond fishing play and now a possible Temp Job setup. Can't confirm any share structure, as company has been dead for 2 years and remember it's a non reporting pink. So anything could be at work here. I wouldn't hold any continuation past the exhaustion candle day. Shell shift merger just announced today. But some entity bought an attention pop and pre run climb of a non functioning company for some reason. IMO that reason on the darkside.
ADV = average daily volume; Remember I say volume is the key to when runs happen. And My Rule of Thumb is; It takes 10 mil ADV for enough retail interest to be around for a dark master to start the fleecing.
Have to comment on a SUPRISE I just got.
I check IHUBs hot list for potential and have only been able to find triple zero stocks, to play and watch, for some time. Today 10 double zero stocks showed up. SUPRISE !!!
Maybe the OTC will come alive the last Q of 2014. Will be researching those's this weekend for potential.
TSPG was the first I found so far.
Heads up TSPG
Here you go. This one is exactly like your stock & company, a Non functioning company. With non trading stock, but for random noise volume pops. Until smoke started to appear Sept 1st. Now it just announced a empty shell shift and now has potential. Fire
http://www.otcmarkets.com/stock/TSPG/quote
The chart has been walking up since Sept, for no good reason, prior to todays PR. Insiders prep work. It had an attention pop back in April. Also for no reason.
A dark entity may be about to feed the buying emotion here. Actually it may become a Temp job stepping up over 3 months. But trade it like a pump & dump, as that's all we've been seeing. Insiders prep work.
3 month
http://stockcharts.com/h-sc/ui?s=TSPG&p=D&yr=0&mn=2&dy=0&id=p55346985276
9 month
http://stockcharts.com/h-sc/ui?s=TSPG&p=D&yr=0&mn=9&dy=0&id=p70652620531
Ok but What happens that far back doesn't even effect long investors decisions, let alone traders, on price action on big board real companies. And 6 months is a life time, on the OTC. Your wasting a lot of time researching year, year & a half old stuff. Big board or OTC. All that stuff had relevance then. Not now. And we invest and trade now.
In this case what's happening with those volume pops is IMO random noise. The company is not in business. It just has a stock symbol, probably waiting for a reverse merger empty shell shift.
I don't know how else to put it. No news, No filings, No financials, NO company for over a year. It was a functioning company early 2013, now it's a non functioning company. Probably doesn't even have an office. But you wouldn't know, because there hasn't been any news for over a year.
What technology does a non functioning company own. No news, financials, or Q reporting for years.
?????????
http://www.otcmarkets.com/stock/SAFC/quote
Actually that info is in the link below my post. I just didn't copy it into the post. Personally I try to keep things basic, simple and clean. And FINRA rules are anything but that. I'm sure for every rule Superman follows, Lex Luther finds a way around. LOL I mean it's the OTC, exceptions are the rule.
Just saying "leap frog" and "transparence" is what I remembered. And my concept for wash trading is basically finding manipulation of any kind, to add comfort a run may start.
Your kind of manipulation or my kind. It's manipulation and seeing manipulation says action and action begets more action.
Smoke before any Fire, is a signal. That's what I care about. Why or how could care less.
IMO your the king of rules. On the other hand, I'm the king of fools. LOL
Thanks for the input about UNGS possible action. But this is not a day traders board. Tic by tic means little. Breakout means a lot.
Here's what I had saved from 2011 and it's about the same rule you quoted. Saying M&Ms can't hind trades, like you posted, then report them after the fact. Humm.
IMO doesn't really matter. Wash trade or VC / market maker manipulation. Seeing these types of trades, still makes me feel there is Smoke before the fire. And that's all that should matter when watching for a darkside play start. Just adds comfort one may occur.
Chit happens. This one is an empty shell with no business. Why people buy, I have no idea.
NO
Have no idea, doesn't make sense to me either.
Not sure we're saying fraud or frog. Like in the Discover card commercial. I remember something about a leap frog rule, a few years ago, at the OTC, to keep an M&M from front trading client block orders. As I recall it was to force transparence, not give an M&M the ability to hide large block orders, then report them closed after the fact. As your posting about.
It was to keep the inter broker exchange equal to (show the same transactions) as reported at the electronic exchange.
I'll check to see if I can find something I had saved about it some where.
Only trading FAS/FAZ at the big boards. Watching FBEC UNGS NBRI SAPX PMCM at the OTC. Closed MHYS ELAR SIAF & ENCR in pennyland.
I know I originally posted use the pre market futures this time. And would hold for the day. But noticed in the first week that doesn't work well any longer. There has been too many reversals this time. I now pick about 15/30 minutes into rush hour for trend and check 10:30 to 11am, after lunch and around 2 pm for reversals or exit.