Elray Resources Inc (ELRA)

[wingtrade]

I can understand where you are coming from. However, this is the way it is in OTC stocks. It is the reality of penny stocks. It is beyond rare to ever find a company in the OTC that does not dilute common stock on a consistent basis. As a trader buying penny stocks, one has to take this into consideration. Your post reads to me as if you think that posters here are morally supporting the company's actions, or somehow responsible for the decisions of others. This is not the case. The simple truth is that we are here to make money. There are definitely traders that have made a lot of money on ELRA during its many price fluctuations in the past year or so. Last year this stock went from .01's to .15's. For someone, that was a 1000% gain. Just in the past week the stock has had a fully tradeable move from the .009's to .03's for potential gains of 300% or more. And there could very well be much more in store considering the FACT that this stock has a low float relative to its current price. And the fact that news yesterday moved the stock up over 200% intraday on roughly $100,000 in total dollar volume.

How can anyone call this a low float play when week after week, the float and outstanding shares increases.

It is a low float play right now. That may certainly change in the future, but right now it is what it is at this exact moment in time. There is nothing immoral or incorrect about stating this fact.

I get why you won't sell, but why on earth would anyone support and try to rally this stock for other clueless people to buy into this stealing machine and loose their money?

It is not accurate to say that all board posters who are posting anything other than warnings want clueless people to buy this stock. It is also not accurate to imply that only clueless people buy shares as the price increases. There are many different kinds of market participants. Not just individual day traders.

The term "Caveat Emptor" definitely applies to this stock.

Yes, it absolutely applies. But it also applies to any other stock in the history of the stock market ESPECIALLY any other OTC stock. If a trader does not realize this, and makes decisions based on what is being said on a message board then they seriously need to reevaluate whether they belong trading these kind of extremely risky stocks like ELRA. There is one reason and only one reason that people buy stocks like this... it is because they offer the potential for outsized gains. Why do they offer this potential? Because they are incredibly risky. They they can, and often do, go to zero. But you will never find a ticker that can run 10,000% in a week on a major exchange. It's as simple as that. Please do not paint this as some kind of moral dilemma where posters who speculate about prices increasing are somehow responsible for the decisions of other traders. Everyone is responsible for his or her own decisions for better or for worse.