Replies to post #86592 on Sarissa Resources Inc (SRSR)

[jfburk]

I don't understand why people put stop losses in on penny stocks unless they are prepared to lose a lot of money. The MM's prey on these kind of people.

[webpence]

I believe this is what happened. What is a typical stop loss? About 15%? I can't imagine setting a stop loss on a pink sheet, as the price is often easily manipulated. I believe this is nothing more than a head fake. We have an NI report due out any day now, could even be today. It seems like someone saw an opportunity to attack a stop loss and get some shares on the cheap. Just trying to mess with people's emotions and shake out some weak holders in the process. I don't know about short covering, but I do tend to believe it was a stop loss that got destroyed. Ought to be a lesson to anyone not to put a stop loss on a pink.