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Friday, May 27, 2011 11:26:34 AM
I have no agenda. The stock was recommended to me by a long time investor friend a while back. I researched the stock, liked what I saw and took a substantial position. I have even added to my original purchase. I like the long term potential.
What bothers me is all the talk about huge short position and massive short squeeze coming. I don't buy into that. I think the stock will do very well on it's own merits. I don't believe the SEC has enough employees to monitor 6000 pink stocks to make sure that the sleezy MM's dealing in these stocks play by the new rules.
I also believe the official OTCBB short interest reports.
As I said yesterday and will repeat here. Any firm hired to push a stock can, if it chooses, run the price up (especially on penny stocks) to justify their predictions. I don't follow Xtremepicks and have no idea what their track record is on every stock they push.
As a rule I don't play the pinky penny market and am only here because of my friends recommendation. Most of my risk capital is used to trade options on AAPL, GOOG, NFLX and SU.
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