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First, lucky,my dog is one of the few extremely knowledgeable people who are willing to wade into the iHub morass and shine the light of reality.
Second, you noticed that OTCMarkets still shows a short interest in FSPM. There is no contradiction between this fact and the fact that you can not short grey market stocks. When an SEC suspension occurs, there are many traders who are lucky enough to be holding a short position. When trading resumes, their short position is not closed until they instruct their broker to close the position, or there is a buy-in because the broker no longer has access to shares to borrow. Given that FSPM shares became worthless after the suspension, a trader with a short position may decide to hold their short position into further expected declines. When they decide that the margin tied up with the short position could be more profitably used elsewhere, they will cover.
So it is possible to hold a short position on a grey market stock, but I don't believe it is possible to initiate a new position.
Disclosure- I held short positions on FSPM during a number of downtrends. Why? Because I took the time to read all their financial statements and was able to identify that FSPM was hugely overvalued. The red flags that indicated fraudulent behaviour were icing on the cake.
Momentum traders who do not want to hold overnight due to risk of SEC suspension?
While that may be perfectly true, it does not substantiate the inflated market cap for VAPE. VAPE can only increase in value if they are able to produce a better product at a lower price than their competition, and substantially increase their market share. I see no convincing evidence that this is going to happen.
When you add in the ongoing conversion of toxic debt and never ending dilution and dumping of shares by insiders, I can see no reason why the slide in price should not continue.
I will continue to scale out of my short position as the price continues to drop, and cover if the trend on the daily chart ever turns up.
On the other hand, people should learn to read 10-Qs and financial statements, and understand the concept of toxic debt conversion. If they did, they would never "invest" in ridiculously overvalued companies like VAPE.
If you want to trade pot stocks from the long side, wait for an uptrend and
Increasing volume. And get out when the trend turns down! Trade the ticker, don't get married to it! Buying and holding garbage penny stocks is a losing strategy!
Disclosure - short, profitably enjoying a strong downtrend. I will continue to scale out of my position as the price drops, and cover if the price turns up on the daily chart.
Patient short position pays off! What happened to all the Fraud Research crew?
I totally disagree! Most money being made in this stock is by insiders selling shares to naive investors as this incredibly well run pump and dump progresses. There are also many experienced traders of pump and dumps who are making $$$$ by shorting VOIL. Holding shares of VOIL for the long term is a foolish strategy given the company has no revenue, no cash, and the only assets are leases that they bought for under $500,000!
Disclosure - short.
Popped up on my end of day scan and a Twitter search of the ticker led to you. Any idea what's up?
Talk about showing up early for a party... Now that October is here, you might want to change out of your shorts and put your long pants on!
Interesting that you highlight the ties between VOIL and OREO as OREO was a confirmed pump and dump. If you want to know the future of VOIL price action, look at a long term chart of OREO.
If there are boiler room calls, then the stock is a pp and dump! VOIL just happens to be a long running, beautifully executed pump and dump. Kudos to the disciplined team behind the scenes!
Sorry, forgot to credit @bulltalk on twitter $VOIL for the link
Disclosure - short, but won't be surprised if I get a "no notice" buyin at IB just before the dump...
MDBX was hugely over valued in December, and the trend was down. I was short before the spike. I covered when the trend turned back up when the spike started. Even though a company is overvalued, if it has a low float like MDBX, momo traders can push the price to extreme levels. That's why I say I have no idea what the price is going to do next, I just trade in the direction of the primary trend.
MDBX has a market cap of $294 million. The numbers in the financial statements in terms of assets and revenue are similar to the numbers you would find in the financial statements for your local convenience store. The big difference is that you your local convenience store turns a profit, unlike MDBX. Would you pay $294 million for your local convenience store?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10154255
MDBX is certainly worth well less than $1 a share. Where is the price going? I have no idea. I let the chart tell me, and I trade in the direction of the primary trend. Due to the difference in market cap and a "fair" evaluation I will only take a short position in MDBX, and cover when there is a breakout to the upside.
There is lots of $$$ to be made on momentum in pot stocks, but that is not a strategy I trade.
Disclosure - short. (Just like I was in December before it spiked to $100!)
No, I didn't add to my short position today. I am waiting for a confirmation of the resumption of the down trend on the daily chart.
Those of us who are short are not screwed.
I have been scaling out of my short position, but still have some left. Hope to hit my final target next few days.
Well, at least the concept lives on!
http://www.cbc.ca/m/news/canada/ottawa/topstories/shipping-container-in-downtown-cornwall-grows-greens-all-year-1.2772121
VOIL short data, as reported by brokerages to FINRA and published every two weeks: http://www.otcmarkets.com/stock/VOIL/short-sales
All other reported short data is meaningless.
The data presented on OTCShortReport is meaningless. It includes short positions held for milliseconds while MMs complete both sides of a trade. The site provides a valuable service to promoters that "prove" a stock is being attacked by shorters. As an experiment, enter randomly selected tickers into the OTCShortReport site, and you will see that ALL stocks are being attacked by shorts, all the time.
Taking profits good! Bag holding not good!
Playing pump and dumps from the long side can be profitable, but you really should consider taking most if not all of your profits off the table on VOIL sooner rather than later. This promo is getting long in the tooth and can collapse any time. GLTA
Disclosure - short, but willing to box a breakout with volume from momo players.
Too bad the army of Facebook likebots does not seem interested in buying shares! The promoters behind DRNE should be nominated for "most bizarre promotional activities" at the 2014 Scammies awards.
Is this it? It this the dump we have all been waiting for? I will scale out of my short position as the price fades, and reload if they bring the pps back up again near resistance. I am willing to be patient, my position is small relative to my account.
Borrows of VOIL in anticipation of a big dump have been difficult to get at Interactive Brokers, and have been subject to buy in. Kudos to the promoters for building a chart that attracts longs. There are signs in the trading action of an upcoming breakdown, but a breakout to the upside is still possible.
Disclosure - patiently short, may box on a breakout with volume
And sad to say, the latest downtrend may be ending, and I might have to cover what remains of my short position. I am hoping for, but doubt we will see, a strong run up. The higher it spikes, the more us shorts make when the price returns to a reasonable valuation. For those on the long side, trade the stock, don't marry it! For ANY trade on an OTC stock, you should only hold a position in the direction of the dominant trend. When the trend reverses get out. Apologies to the Leaf fans who have heard all this before.
Actually, I am not a MM and I am short DRNE.
Then I suppose you would agree that with a strong down trend in place, it would be foolish to hold a long position. If you believe in a strong future for VAPE, you should wait for an entry when the trend turns positive on the daily chart.
Break of solid support at $2.00 could mean look out below!
Disclosure - patiently short...
Re commercial air time, Spongetech a pump and dump brought down by the SEC, had a SuperBowl advertisement, and a real product. Criminal charges were laid.
I don't think anything is going to happen until the TRIG re activates itself as an active Florida corporation. Keep an eye on the status using the Florida Secretary of State corporation search page.
No. Warrants are not the same as convertible notes, even though both result in dilution. Read the disclosures!
The contact address for TRIG on OTCMarkets is the same contact address as for Omni Branch View LLC. The Manager of Omni Branch View LLC is listed as Beryl Zyskind. Beryl Zyskind gets an unkind review in this iHub post: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58570364
If you read the recent 10-Q, you will also see that there is a seemingly never ending string of convertible notes, that are getting converted on a regular basis. It is not "weak hands" that are selling, it is the insiders who have financed VAPE with toxic debt instruments that are cashing in and pulling out their profits.
The $2.00 level offers some good support. If that is breached, look out below...
Disclosure - patiently short
My very patient short position finally closed out at my target price.
Hey Rakeman, why don't you take the time to actually read the Securities Act so that you understand what actions taken by a company can lead to a suspension. Structuring a company primarily for insider enrichment is not illegal! BTW, if you actually read the Act, you would find that many of your postings contravene the Act, especially those in which you state that a suspension is coming. The SEC has prosecuted traders who attempt to manipulate share price through posting inaccurate information on iHub.
Relentless dumping! How low can this go?
Interesting or foolish, or just another wash trade to be investigated my FINRA.