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Re: randisimo post# 11545

Friday, 12/11/2009 10:02:53 AM

Friday, December 11, 2009 10:02:53 AM

Post# of 55140
Pinging is when you sell a small amount of shares at the bid or the ask to give the ILLUSION that the stock is trending up or down.

This is a basic manipulation of a stock.

When it happens aggressively, it is good to know.

For example today the ONLY sale we had at .0024 was for 7,500 shares, this comes to an amount of $18. There is no way someone is trying to make a profit for $18. The comissions by themselves would leave this person just a couple of bucks. So we conclude that this sale was entirely to manipulate the price downwards.

WE MUST COUNTER THAT!!!

If we don't the small investors who doesn't have level 2 thinks there is a down trend and often sells sending the price even lower.

It is my experience that if we counter a down ping with an up ping eventually the down pinger gives up.


I personally have up pinged after someone down pinged many times to protect our investment and I need every one on this board to help too.


As a foot note to my opinion, I once had a battle with a down pinger to see if there really was someone there doing this intentionally. As soon as this person down pinged with 5000 shares, I up pinged with 5000 shares, we did this about 7 or 8 times over the course of 15 minutes.