Replies to post #5576 on True North Energy Corp. (TNEN)

[Deryld77]

I started trading about 11 years ago and to this day still make "bad" trades (they are few and far between but still happen) The reason for that is no matter how good you are at reading charts, no matter how good you are at DD, no matter how good you are at reading the momo in the moment; there are two overwhelming things you cannot control: 1. being people (I.e. Mr flipper wakes up one morning and decides to dump all his shares and kills the PPS) 2. The company's ability to generate revenue.

I invest and gamble. I play the OTC hard. I find companies that I can make 5-6 thousand in a week flipping then take that money and invest in my favorite company NYCB, they have a 25 cent quarterly dividend for the past 12 years. It's solid and will always be there. I use both to my advantage.

Butttttt..... THAT IS WHAT WORKS FOR ME! You have to, have to, have to find what works for you. DO NOT FOLLOW PEOPLE ON IHUB! While most people on here are benign some just want to sucker you into buying their bags they were left holding.

Remember it's your money not theirs, only put up what you are willing (able to) lose. Some guys want to make a million dollars in one week, is it possible in the OTC? Sure... Does it happen very often? HELL NO!!

A MM can have millions upon millions of shares and they are out to get your money, that's called retail. Just because L2 looks thin doesn't mean shit! Those 10K's are placeholders. They will and can drop the price put fake amounts of shares up and sit there until they buy lower and sell to you higher.

My philosophy on the OTC is get in quick and get out even faster. I don't care when people get but hurt over FLIPPERS? Guess what, they are the doing it too! Everyone wants to make money.

Last thing I will leave you with is DO NOT GET EMOTIONALLY ATTACHED TO A STOCK OR MOMO. I said earlier that NYCB is my favorite stock but I tell you what, if Monday morning rolls around at 9:30 and there bad news that starts to unfold, I will SELL THE SHIT OUT OF IT AND BUY BACK IN AFTER THE DUST SETTLES.

[fliboyz]

WOW, Some really GOOD stuff here. I almost feel like I have walked into a support group of sorts.

Along the whole L2 line: I am assuming by now you have watched a couple youtube videos on L2. If not, Essentially although still incomplete, it gives you additional information that the regular "bid/ask" quote doesn't give. It breaks down the realtime buy/sell offerings by the various market makers and on TDameritrade, it doesn't break it down fully but also shows the actual buys and sells.

The main things you need to learn are first how the number of shares on bid and ask will likely impact price movement and how to recognize the different market makers(MMs) and their reason for being there. For example some primarily just buy and sell retail for their own customers like you and I. And others are more institutional and are primarily selling shares for either the company or creditors of the company. Others do both. If they are selling shares for the company or creditors, you will hear folks talking about dilution. Basically they are inflating the share structure by introducing new shares into the market for one reason or another.

And as the general economics principle of supply and demand dictates: as supply goes up demand typically goes down and can negatively impact the price accordingly. That is unless there is enough interest to out pace the supply(good news, favorable filings, ihub pump group, etc. When this happens you get a "run" until it reaches the breaking point where the table turns and supply now outpaces demand and it starts going back down until supply and demand stabilize.

I will elaborate on it at a later time as I am getting ready to head out for father's day, but the other thing that is critical if you are going to "invest" in the penny stock arena is learning everything you can about "toxic lenders", who the players are, how they operate and how they influence the stock and can sometimes ultimately destroy a company's share structure.