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I opened an acct with them today, we'll see how it goes. I'm not looking to jump into any certain crypto currencies right away, just want to be prepared if I see a good opp....
Creede, is etoro a good crypto exchange?
I am not a newbie. Been doing this for a long time and I remember that there had been several times when the SEC had came out with statements about regulation of the OTC. Most OTC traders said "they'll NEVER do that".....well, this time THEY DID. The next few months will tell the story.
With 6 billion shares outstanding, it is going to HAVE TO BE a HUGE merger. Thanks for proving my point.
Out of habit, I always have my eyes open for opportunities with any potential shells/reverse mergers.....but those plays (the most lucrative) is what the SEC regulations stuck a nail in. Mostly I am holding some of the plays that I held before the SEC regs took effect and am hoping for the best. Looking at maybe trading crypto (reluctantly) I am sure that the SEC will find a way to ruin that if they can. Have a great weekend, brother.
Most seasoned penny stock players knew that the OTC was the "wild west". We knew that the OTC was for trading and that with higher risks sometimes came higher rewards. We knew what to look for. The big boards were for "investing". It's funny to hear some of these guys on Twitter talking as if there is some kind of "virtue" in investing OTC stocks that are filers with up to date info. "Real companies", LOL. They don't realize that catalysts like reverse mergers are what drove some of those stocks up by thousands of percents. Whenever I made a boatload of cash on a reverse merger or custodianship play, I never worried that there were no filings or if it was a "real company" LOL did you? It was REAL MONEY. Now there are no catalysts....and I think slowly but surely, people on Twitter etc are catching on to that fact.
Perhaps, but I no longer see the OTC as one of those avenues. Great post from another board https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166757417 I am no longer doing DD on anything new in the OTC. On Twitter, most guys are still talking about OTC tickers that ran big PRIOR to the SEC regs taking effect. No exciting new plays to be had. No catalysts.
Great post! I just cannot believe honestly, that OTC traders are taking this lying down. No lawsuits, no outrage, nothing. At least if we were to boycott the OTC, those "sophisticated investors" would not be making money from stocks they frontloaded on the expert market. The expert market is an outright corrupt market for the rich to get richer, as you said. They stole our market away from us. It's sad to see...most of these guys (especially on Twitter) are pumping the "pink current" stocks with billions of shares outstanding rather than pulling resources to fight back. I guess the SEC wins. Great to hear from you, BB.
Thanks for the list but I don't see much good it does when we cannot buy them on the ground floor....and we really can't buy them when they make it to our market tiers of Pink Limited Or Pink Current due to ginormous spreads on bid/ask from day one. There's really no other way to say it, custodial/reverse merger plays are dead.
I am all for that (OTC traders moving to crypto) Perhaps with little to no money flowing through the OTC, the SEC will realize how bad they F'D up. I hate what they did. They have pretty much killed reinstatement/custodianship/reverse merger plays (at least as far as getting in at ground floor bottom entry, because they now all pretty much start out on the expert market). They stole our market right out from under us. Now we see pumpers on Twitter pushing stocks with billions of shares outstanding (although "filers") and telling their gullible followers these companies have great futures LOL. I have a few dozen OTC stocks I am waiting on to play out, but I am no longer playing anything new. Not worth it anymore. SEC killed it.
May I ask how you are even buying these stocks considering they trade on the expert market?
From what I understand, it is not illegal or against the law for retail traders to buy on the expert market here in the U.S. but rather a matter of brokers refusing to allow it. I have not read everything regarding the 15c-211 amendments....any insight as to whether this is correct or not? If so, it may just be a matter of waiting for a broker to come along and do it. Like in Canada.
RBC (Royal Bank Canada) Scotia Itrade, and Qtrade.
FYI....so far I have contacted 3 brokerages in Canada that people on Twitter said they buying expert stocks through. All 3 told me I needed to be a resident of Canada. Are the laws/SEC regulations different in Canada? Why are they able to buy but in America we cannot?
I would almost have to believe it is a matter of brokerages.....considering
some Canadian brokers are allowing expert market trading.
I will keep on digging for that info.
Why am I seeing the bid and ask in my TDA acct when I type in the stock symbol for quotes? I am also seeing the volume traded.
Does Tradestation allow buying/selling on expert market?
You have probably read more on the regulations than have I, so I believe you. But what eats at me is that I seem to remember someone posting excerpts from somewhere, I don't recall if it was from the SEC or OTC or what.....but they were saying something along the lines that MMs/brokers could face penalties/punishment if they are making a market for a stock that does'nt meet the new regulations. I wish I could find that post, I think it was here on IHUB. If I am wrong on that.....and it's just a matter of waiting for a broker to come along there would be some hope that things could return to normal.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166627327 Read this post I made on another board. It's interesting, because the way I first understood it was that we would not be able to see the action on any expert stocks. My TDA acct showed me that over 300k shares (heavy day) changed hands between .0007 and .006. on ZENO, a new shell that Lazar just filed a motion for custodianship. So, I would assume that they are providing an ask on the expert market as there was an ask of .008 for 10k shares last I checked.
Did you read the link I sent on LLC's? Unfortunately, that is out. If you find a way, let me know.
Heck, I am all for boycotting the OTC, period.....until they reverse these regulations and kill this expert market. Unfortunately, there are pumpers on Twitter telling people this is going to be the greatest season ever for
OTC penny stocks. While we see "experts" accumulating stocks with small share structures like the ZENO example I provided.....these Twitter guys are pumping stocks with 5 billion shares and more, and telling people to hold long term LOL. Those are the "legit" companies WE were left with. Totally corrupt.
Lazar custodianship on ZENO.....(heavy day) on the expert market over 300k shares traded between .0007 and .006. Experts are loading up where we normally would. Once ZENO makes it to our retail market.....it will have an insane ask of who knows how much.
Insane spreads between bid/ask. This is what pisses me off. This is what happens by the time these stocks reach our "unsophisticated" PL and PC tiers......it destroys any profit we used to make upon finding filings and being able to buy etc. Damn the SEC.
Not sure that's possible.
"16k shares is'nt alot".....it is if you are accumulating 16k shares over and over for the next 8-12 months. Then when the stock reaches our PL or PC market....the ask is .50 selling to suckers, who is profiting there? Like I said, they stole our market right from under us. Those were the profits you and I used to make.
Again, what is frustrating about this is that we can no longer buy these opportunities. Someone did today though.....16k shares at 0001-0002 range. Imagine what a profit they make once the shares reach our market. That is the profit the so called "experts" have stolen from us. Totally rigged. Totally corrupt.
https://www.clarkcountycourts.us/Portal/Case/CaseDetail?eid=5Pd1zeVCWCs2QCIqGjnlrw2&tabIndex=3 Custodian Ventures Motion For Appointment Of Custodian.
ZENO and HTHL. Fantastic share structures on both. My TDA account shows that ZENO traded 16,000 shares today at .0001 and .0002. So....these "sophisticated investors" can really sweep up if they can keep accumulating shares like that, because the price gets driven up when those plays finally make it to us on the pink current or pink limited market. i sure am glad that the SEC saved us from making all of that money. So happy for the "experts". Anyone else sick about this? It is corrupt AF.
Of course, by the time Lazar updates them to PL or PC.....the ask will be at dollars per share. Who knows how many the so called experts are loading....
Some new Custodian Ventures custodianship filings out.....both shells have fantastic share structures and we cannot touch them. Both on the expert market. I thought Lazar had maybe got out of the custodianship game. Very pissed off as these were plays once available to us.
Some new Lazar custodianship filings with fantastic share structures.....can't buy them now. Expert market. So pissed off at what the SEC has done to these plays.
BLFR has a great share structure and is a clean shell. I was going to pick up a few shares.....and of course, TD Ameritrade REJECTED my order. Getting sick of this sh!t.
Wow....board is dead.
I've been adding QENC and QUAN. Synergy Mgt custodial shell plays with already low O/S and restricted share cancellations on the way.
And once these sub pennies make it out of the "expert market", they are automatically trading at multi pennies of much more with insane spreads between bid/ask. This is what has killed the game for retail traders. I am seeing junk with billions of shares outstanding trading for .10 and the like and being pumped with no catalysts. What a sad time to be a penny stock investor.
Agree....hopefully there is enough anger to inspire legal action.....
Yeah, I thought as much. I do not have IB....a few on Twitter posted that they had bought a few but I think it was a fluke, or might have been just before the cutoff date.