CMKX is a trade everyone should know about and understand. CMKX was a play A Perfect PLAY. To be a better trader you need to understand the CMKX Play. CMKX was a total dilution machine. CMKX had no value as a stock but stocks dont need value to be a great play, trade or have a monster run. Many CMKXrs learned nothing is right because they dont understand the trade they focused on the pie n the sky bs just like the GME longs are doing now. History is repeating itself. Heres a couple posts from 9 yrs ago a few yrs after the CMKX Play/RUN/Naked Short debacle. Making money in the market trading is more about understanding what the play is than whether there is a dime of value in the vehicle your riding on.
dude iligence Friday, 05/18/12 12:50:25 AM
Re: Pedro2004 post# 334979 0
Post #
335002
of 356703
pedro the time between the split and the run is not what was or is important for the play that took place and I can assure it did. But only if you had insight into what was taking place at the time. Everyone will agree that CMKX was the biggest dilution/naked short stock in history. The company and the mm's were pumping out shares real and imagined as fast as the bid orders went in. If you understood that you knew that they didn't care what the price waas as long as they sold you some. After all they were never going to cover it and the company would simply go Poof like all the other Diluted POS penny stocks and remorph into something else.
Before CMKX split 2 for 1 the bid was .0001x.0002. There was no other lower option. Not .0001x.00011. Not .00005x.0001 Why because you can't enter 5 digits or decimal places in your stock trades here's the message you will get from Etrade today just as you did back in 2002 or whenever you say the split took place.
May 18, 2012 12:21 AM ET
Enter Order: Stocks
At the price you specified, E*Trade can only accept orders placed with prices in minimum increments of $0.0001.
That was the next big clue. Janice would never figure this out because she has no trading skills or trading mentality she must just think police action.
So the bid of CMKX was .0001 and the ask was .0002. That is a huge spread, 100% but that was the best that could be entered.
Remember many of the shares of CMKX never existed so it was basically free money to the seller.
The play was so simple but most never got it because they didn't think about buying on the bid.
Enter a GTC buy order for 20million shares on the bid .0001 and guess what it got filled, maybe not all at once but it got filled. If the stock closes at .0002 you were looking at a 100% gain.
Here's the beauty of the trade the day before the split the stock closed at .0001. The next day you have 40 million shares in your account and guess what the price is still .0001. It splits the price goes to .00005 but wait it can't. Why? Because of the fact that "E*Trade can only accept orders placed with prices in minimum increments of $0.0001."
So here now you have a 100% gain in you account on the CMKX shares when it's at the price you bought it at .0001 the bid. Your $2000 is now $4000. Now this it the beauty of the trade when it goes to .0002 your account is now $8000 instead of $4000. When the stock ran to .0011 and it doesn't matter how long it took your account is $44,000. from $2000 that is and was a 22 bagger. The day it ran up I sold all my shares except for 2 million extra shares that I called bonus shares that ended up in my account after the split. I sold those much later, before the whole thing imploded at .0001 on the bid.
This was the only and actual play on CMKX and it was one of the simplest and best plays in the history of the pennystock market.
I'm sure there are some on this board that over the course of time were able to buy shares on the bid at .0001 it just required a bit of patience but the key was to do it before the split. I know several people that got sucked into the whole naked short bs and how they were going to force a cover. Reminded me of religious fanatics, they weren't going to listen they just knew it was real.
You can doubt this all you want I could care less but it did happen.
dude iligence Friday, 05/18/12 02:18:07 PM
Re: Pedro2004 post# 334989 0
Post #
335004
of 356703
Pedro2004 thats the difference you were a bagholder in CMKX and lost. I made good money on CMKX. That fact that you are still here on this board how many years later? like a decade tells me you are probably bitter bagholder that can't let go of the past. So it's comes as no surprise you can's see how this very very simple trade on CMKX worked.
I'll recap it in very simple terms that even the dullest of bagholders like your self can try to understand
1. Put buy order for CMKX at .0001 on the bid.
2. Order is filled price is .0001
3. Stock splits price stays at .0001
4. Account is up 100% because twice as many shares now.
5. No rush to sell bid will never go below .0001
6. Wait patiently for stock to run with target of .0010
7. Stock runs to .0011 sell all shares on the bid
I won't explain this again so pay attention. If you don't get it well you'll most likely be here in another 10 years
For the really thick headed lets review the confusing parts
2. Order is filled. If you were selling shares of crap like CMKX that you didn't really own and knew were eventually going to be worthless you are presented with a buy for $2000 worth of stock at .0001. What difference would it make to you to sell it at .0001 or .0002, when the trade goes thru its still $2000. So trade is filled
3. Stock is priced at .0001 stock splits price stays the same because of the limitation on how many decimal places .0001 being the lowest possible price to enter.
4. double shares same price = 100% gain
5. as long as you sell all your shares before delisting or halt you will make at least 100% on you money because the bid could never go below .0001
