Penny and less stocks, any comments??!!

Discussion in 'Trading' started by newcomer, Jan 29, 2003.

  1. Buy Buy Buy! (PG)

    Joke Submitted By: Anonymous

    A stockbroker was cold calling about a penny stock and found
    a taker. "I think this one will really move said the broker,
    it's only $1 a share."

    "Buy me 1000 shares." said the client.

    The next day the stock was at $2. The client called the
    broker and said, "You were right, give me 5000 more shares."

    The next day the client looked in the paper and the stock
    was at $4.

    The client ran to the phone and called the broker, "Get me
    10,000 more shares said the client."

    "Great!" said the broker.

    The next day the client looked in the paper and the stock
    was at $9.

    Seeing what a great profit he had in just a few days, the
    client ran to the phone and told the broker, "Sell all my

    The broker said, "To whom? You were the only one buying that
    #11     Feb 5, 2003
  2. ElCubano


    When buying or selling penny stocks the MM's dont have to adhere to the manning rule (basically a fuck fest)..therefore they will not be reflecting your bid or offer although it may be better than the inside bid/offer.....not to mention getting printed below the bid.... overall it is a fuck fest with the MM's in the driver seat...peace

    Bottom line stay away...( this is from a trading aspect)
    #12     Feb 5, 2003
  3. tuna


    OTCBB's are 0.005 both ways usually on ones above 0.10
    You enter a buy order at 0.26 it'll get shown as 0.255.
    Part of life when you trade em
    Quite a few stocks that were $1-2 have been going ok - ASKJ ,DHB etc not bb tho
    #13     Feb 5, 2003
  4. Janitor


    ETRX turned out alright lol.

    I trade the pennies actively and for good profit, and none of the reasons pro traders give to avoid them resonates with me. MM manipulation? Hardly exclusive to penny stocks, and anyway, so be it. It's easy to read between the lines of MM bluffing and made-up spreads. Risk of 100% loss? Give me a break -- not if you're smart and use stops.

    Anyway, I won't pump that other stock again but it should move next.

    #14     Feb 5, 2003
  5. dstod


    I used to trade OTCBB pennies pretty well a couple years ago, particularly the ultra low float ones with less than 3 million shares.
    However, I noticed that the Nasdaq listed pennies traded better, particularly because in the OTCBB the MMs were so extremely manipulative due to the lack of regulation compared to the Nasdaq market.

    Anyway, your picks re-sparked my interest in these issues. Keep them coming!

    Good luck.
    #15     Feb 5, 2003
  6. tuna


    CIO maybe,Just bought some for a look,first pig i've played in ages
    #16     Feb 5, 2003