Well, I have traded on the big boards for 6 years, but was always afraid of PennyLand. I studied the penny boards and watched stocks of all kinds go through the hoops: R/S, O/S, P&D schemes, lawsuits, shells, etc., for 6 months before I jumped in to investing down here a couple months ago.
So, I am not that experienced here in the pennies, but I wouldn't say technicals are useless. I think some technicals show up on my scans to help me weed through what IMO is a stock with upside or one that is worthless to me.
It also depends whether you plan to be a day-trader, a penny-flipper or one for the longs, whether months or years. My job does not allow me to sit and stare @ Level2 all day (but I can usually take a quick peek @ it & the boards to see if news is out), so I go more for stocks with long upsides.
But, yes, anyone who isn't aware of MM's tactics is going to lose their money and lose it fast. Like on "It's a Wonderful Life," the MM's are Mr. Potter and you are George Bailey...when there's a run on the bank, you won't be able to save anything else, just fight for your stock, the Bailey Savings & Loan. If you can save that, you win.
GLTY, IMO GHLV has great potential. Read all the posts, not just the stickies, then check it out yourself. IMO this is a GREAT jumping in point at this price.
Down in PennyLand, you had better think of your stock as a pet lion, you may want to feed it...but never turn your back on it, because it can never be trusted. Even the best stock in the pennies can bite you in the rear!
