Tuesday, July 03, 2018 12:46:41 PM
I think it was warren buffets 3rd cousin on his mothers side, tommy buffet who said:
If you do wish to trade penny stocks, the following is the foundation for understanding the OTC market:
*Assume that every single penny stock is being manipulated. Seriously. Every single one.
*A "pump and dump" is when a "bad" or "worthless" stock (with low or no intrinsic value) gets manipulated upward with the objective of selling the stock at an overvalued price. This is an upside down V shaped graph.
*Assume that 98-99% of penny stocks are "pump and dumps". You can still make money on these stocks, but timing is critical, and trades are always very short term. And you have to know EXACTLY what you're doing to consistently make money. It's not as easy as just "riding the wave up" and getting out before everyone else. Every stock is different. Sometimes you make money. Sometimes you're the bag holder.
*Always assume the company is providing suspect public information for the sole purpose of finding suckers to buy so they can dump billions of shares onto future bagholders backs in an effort to get cash to pay unusually high salaries..
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