News Focus
News Focus
Followers 367
Posts 10529
Boards Moderated 0
Alias Born 12/03/2009

Re: gimmekimmy post# 23913

Friday, 04/12/2013 12:38:17 PM

Friday, April 12, 2013 12:38:17 PM

Post# of 38376
The odds of that happening is getting worse, and is become even more of a long shot the more they dump in these lower 2s. As the percentage gains from the low 2's to high 2's is a good short term percentage gain. We are not talking a couple hundred k's worth. Its Millions being dumped down here. Even level II is removing the very large size orders long enough to get a tick or two to move up, and then comes on to fill plenty. This needs to be followed closely so anyone thinking its looking thin doesnt get caught up at those slightly higher prices since almost everyone is getting the very low prices. The selling pressure continues by those with these amounts of Millions to sell at these newly formed low levels. That is a dead give away that it managements dilution, with a few frustrated longs adding on as they give up. Everyone wants to make money in any stock, but you have to play what is in front of you. So if you actually have a broker than will force sells, regardless if they change restrictions in a particular stock, you can sue. They can restrict the purchasing of stocks they deem "blacklisted" but legally force the selling of a security at even a loss, unless you are on margin, or are in the red of buying them. Meaning, if you bought them outright, with cleared funds, and not owing a single cent on that purchase, they cant force a sell. Only a sell can be forced if you didnt have 100% of the cleared proceeds to buy those shares, and even 1 penny owed, they can force a sell at any loss price to regain their loan basically.

This has not only not set a bottom, but the amount of shares alone, should be a buyer beware, even if it eventually becomes the bottom. Since no one will know the bottom is forming, or formed until there are certain signals that will support such level. Millions being dumped at an easy discretion is one sign to not buy yet. The other is the flash of the big orders disappearing, yet reappearing quickly to fill, once the bids are at the level they are looking for to start filling. So even if one was to like this stock, like it more when you have somewhat of an advantage on your side. Right now, now bid order, regardless of size, has begun to set that bottom. New lower lows being set weekly, is and should be at best, a sit and wait. Since this could be Millions more and the .002 level changes things even more once it becomes a .001x stock, as the triple 0's are on a close radar. As this drops it will get more brokers to "blacklist" the symbol, and add it to their restricted lists for purchasing. Even if it enters a "chill" status, that still cant force the selling, only the purchasing. If bought free and clear, you are governed by the rules at the time of that purchase.

I would double check with your broker on this forced sell notification and get in writing their justification. Paying for settlements, cant be changed mid stream once you own the stock, as it was bought by an agreement already in place by you and your broker in that small wording on the terms and conditions pages, no one reads.

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today