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Two key charts to look at to see the future for TALK: GNIN and IDNG, all promoted by the same group. I am guessing it will follow the GNIN model, a reversal and then a push back up towards $2.00.
The trend on the daily charts is still down. I am not going long (reboxing) my shorts until we get a breakout above today's high.
Not true! As a fully reporting OTC company, WSGP has intrinsic value as a vehicle for insider enrichment! On this basis alone, the company is worth a million or two. It costs a lot of money, time and effort to set up a company for promotion...
As a short biased trader of promoted OTC stocks, I can confirm that it requires a lot of study and hard work. Borrows are very difficult to find. Although promoted stocks always "revert to the mean", there is huge risk in being squeezed.
The penny stock world attracts those trying to get rich quickly with little or no effort. There is lots of money to be made selling tools and services to these kinds of people. Tim Sykes was written up in Forbes because of his marketing techniques, not because of his trading strategies.
Never to late to learn somethi
All OTC stocks can be shorted. You just need to find a broker that offers this service, and then the broker needs to borrow shares and make them available to shorters. Interactive Brokers is one of the largest, most reputable brokers in the world, and allows shorting of OTC stocks when borrows are available.
Finding shares to short is always a challenge.
The "real" short position data is published by FINRA bi-monthly. Once the mid-may short position data is published, you can go to OTCmarkets.com, enter the ticker TALK, and see the actual short position data on the company info page.
If TALK parallels GNIN, it should have two more days of declines down below $0.50 before it starts its climb as hard mailers hit...
FINRA Short Interest Report:
The two biggest misconceptions in penny stocks:
1. Penny stocks trade after hours (I see prints!)
2. The daily FINRA short interest report represents the number of shares that were shorted that day by the evil shorters in their vicious attack against the innocent public company in question.
For explanation of FINRA daily short interest data see http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57101068
Brokers are required to report short positions on a bi-monthly basis. So how can real short position data be available daily? It isn't!
http://www.finra.org/Industry/Compliance/RegulatoryFilings/ShortInterestReporting/P037072
The latest short interest report for OTC stocks is as of April 30. As TALK has only traded since April 25, there is not yet any published short interest data for TALK.
I would not be surprised to see the price ramp up, even back towards 2.00. Brighton is one of the top 3 promoter groups in terms of technical competency, IMHO.
Trade the price action, not the hype!
It might be worth reminding everyone that the Brighton group pick before GNIN was IDNG and IDNG never bounced after the dump, it just kept going lower and lower.
Disclaimer - short, unboxed my position (went net short) with an average of about 1.70. Will rebox if an uptrend (on the daily chart) resumes.
Great price action today, looking for a parabolic spike tomorrow.
As of right now, I am short in one account and long an equal number of shares in the other account. My net position is flat. If the price goes up or down, gains in one account are exactly offset by losses in the other account.
One day soon, when there is evidence that the price is probably not going to go any higher, I will sell my long position, but keep my short position. When every other "evil shorter" is desperately looking for shares to short, I will already have mine.
I have two separate accounts at interactive brokers. I go long in one account, and short in the other. You can open as many accounts as you want, as long as you meet the account minimums.
See post 791 and follow the link for evidence that the Brighton group of promoters are behind this.
I don't make anything on the way up, what I bank in the long account, I lose in the short account.
Longs want the price to spike past $3.00 so that they can sell at a great profit.
I am boxed (long one account, short equal number of shares in another account). What ever price this stock goes up to, once it starts topping out or a down trend starts, I will sell the long side of my box, and will then be suddenly short at exactly the time when shares are hardest to find to short. I want this stock to go as high as possible so that I maximize the price where I establish my short position. As this company has, according to the latest SEC filing, no revenues, no employees, and very little cash, I expect that when the hype fades and the insiders have sold their shares, the price will head back down towards zero. So my reason for wanting the price to spike is different, the more it spikes, the more I make on the way down.
Like you, I want this stock to spike up over $3.00, but for different reasons.
Good luck finding shares to short when pps is $3.00! If you can, then the gods of the heathen, evil shorters must be smiling on you!
Interactive Brokers for shorting OTCBB and OTC stocks. You need to put up $2.50 in margin for each share shorted. If the pps is 1.20, this is not expensive. If the pps is 0.10, then it is expensive.
For those of us who short OtCBB and OTC tickers every day, we just scratch our heads when comments like this are made.
He is not short, he is boxed (long one account, short another), as I am. So he has not been burned, he is waiting patiently for the pps to show signs of topping, so that he can sell the long side of his box, thereby establishing a short position at the time when borrows are hard to find.
I am enjoying the irony of a long cheerleader like yourself linking to the website of one of the mast respected and transparent short-biased penny stock traders in the business.
OCTX established for insider enrichment - research report
http://promotionstocksecrets.com/octagon-88-resources-inc-octx-pumpdump-report/
Disclosure - short small position
Go to otcmarkets.com, enter the ticker, and then select filings and disclosure.
You can only sell short if your broker has identified a source where they could borrow the shares from. When your trade settles three days after the trade (t+3), if your broker no longer has a source to borrow the shares from, your position will automatically be closed, sometimes without warning. At ST this happens a lot, I am told. It happens much less often at Interactive Brokers, as they have a powerful algorithm that manages short positions on a first-in last-out basis.
Beware of SureTrader buy-ins on t+3. Borrows for OCTX and LOTE are very difficult to get. With Interactive Brokers, I have only been able to get 300 OCTX and no LOTE. ST is great for borrows, but sometimes there just aren't any available.
The TOTAL short interest for MDBX as of April 15 (last published data) was 2,156 shares! I find it a challenge finding 100 shares to short! There is no army of evil shorts attacking MDBX! There is no one covering massive short positions premarket, because there are NO massive short positions to cover!
At $1.50 over the ask!
Buy-ins on t+3 are common with many brokers, but the big exception seems to be Interactive Brokers. They seem to have a powerful algorithm for matching short positions to available borrows, and execute buyins on a first in, last out approach. My first MDBX short survived six weeks, the second three days, the third six days. My current short position is one day old. I have been short almost continuously since $47. I was not looking for borrows before then. I intend remaining short until MDBX reaches a reasonable pps based on fundamentals. There is still a lot of down side!
The promoters are doing an excellent job of creating Pavlovian dip-buying behaviors by penny stock day traders. One day, the dip will become the dump with no chance of exiting a long position. Disclosure - very small short position - borrows very limited at IB...
I do. That would explain why I am short, with 2/3 of my position boxed until the downtrend resumes.
A little strange that you would draw attention to another misleading PR. The CEO states that the Form 10 would be subject to audit by the new auditor, thereby delaying the submission. Soon after, the original Form 10 with audit letter from the auditor charged by the SEC was submitted with no further explanation. Disclosure - I am short because of the fundamental massive over-valuation of MDBX. Sleazy corporate actions like the one described above give me confidence in my position.
Phone rings.
Fat Tony: Vinny, it's TraderGash. He says he needs to talk
Vinny the Boxjobber: I ain't talked to TraderGash since Grade 3 when he slipped loaded dice into the craps game I was running in the school yard and he cleaned me out. Gimme the phone.
TraderGash: Hey Vinnie, I know we ain't been the best of friends, but you gotta pull your longs off MDBX. I'm squeezed big-time, Vinny, I can hardly breathe. Think of my family, Vinny. Our kids go to Junior Racketeers together.
Vinnie: You know the rules, Gash, we all make our own trades. Hey, I got another call, maybe we should get together sometime...
Fat Tony: hey Vinnie, it's that big shot from NASA again. He really wants MDBX to be an official sponsor for the next manned space flight, which like MDBX, is going "to da moon".
Not quite true. Retail traders with a SpeedTrader account can route orders for OTC tickers directly to specific market makers. If that MM is active Pre-market, then a fill is possible. The MM may be showing a bid-ask Pre-market, but this does not mean they are active and will accept the order. If lucky, you may get a fill.
I can't argue with price action! Looks like I may have to box up my short position. I don't want to cover because shorts in MDBX are very hard to find, and fundamentally, i believe MDBX is insanely overvalued. I just hope the buying pressure from me buying 150 shares to box up my position does not spike the price even higher!
Although it pains me, I have to agree with FTW here. The PR lists Vincent as a Board Member only for MDBX, but notes his position of CEO of PVM, which apparently is the only Vending Machine company in the world that has nothing to do with vending machines!
It is relatively easy to see what a specific market maker is doing. It is much more difficult to determine why. A MM who is selling could be selling on behalf of retail, selling on behalf of insiders, selling their own position, shorting on behalf of retail, shorting on behalf of insiders, or establishing a short position for themselves. If you know the "profile" of a MM, you should be able to narrow down the list. VNDM often works directly with promoters unloading shares, so VNDM suddenly showing up selling "might" be an indication of insider selling. Maybe our resident retired MM from Dune could help us out here.
All good promotions should give dip buyers a chance to get in too!
And I was just starting to think about boxing up my short position. May not be necessary!
IB was filling orders to short at market open this morning.
This trend is my friend!