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.
