Spongetech Delivery Systems Inc (fka SPNGQ)

[no_BS_plz]

Good post, for a college kid...just kidding.

You are right about stop losses on penny stocks, whether OTCBB or Pinks. Those stop losses are there for the MMs to see and does not take much to swoop down, gobble them up, then let the price go back up to its normal level. Tidy profit and can cover shorts, if there are any, at a nice price.

I never place stops on penny stocks. Either get out, trade, or accumulate on the dips...unless, of course, you are a very charitable person and like to give your money away.