Replies to post #48112 on Rennova Health Inc (RNVA)

[bar1080]

You're assuming the goal of traders is making money. I often refer to many of them as Slobbering Gambling Addicts. Some know darn well, from years of experience, that playing pennies is ludicrously unprofitable. I'm here for the newcomers who can burn thru their family savings before enlightenment. I sometimes recommend respected investing texts, but we all know that few newbies will read them!

Recently the SEC came out and admitted the truth about about pennyland outcomes:
https://www.sec.gov/dera/staff-papers/white-papers/16dec16_white_outcomes-of-investing-in-otc-stocks.html

Another problem here. RNVA is one of the worst of the pennies due to its huge hospital earnings burn.

[cablejohn]

Say it ain't so..that traders would conspire to trade to each other and buy up the ask to raise PPS --and then dump.. I am Shocked ...Shocked!

Trueheart as you well know experience as a guide tells you the difference from an organic (good news/ positive 10K) rise in PPS as opposed to an out of the blue for no apparent reason skyrocket in PPS.. I prefer the latter to the former. Good news often has very a negative effect (due to hyped build up anticipation).

Being nimble and selling when needed is necessary to avoid bagholding, you can always buy in at a lower price if it drops. Likewise if RNVA is real and true you can buy back in at a higher price and profit (up is up )

My thoughts are that these swarms of traders may cannibalize one-another as they work a penny stock up and then abandon it, then going to other stocks (or revisiting the same stock) and applying the same techniques.