The OTCBB stocks, in particular, the penny stocks have been hit very hard recently. There have been many posts and rumors on SI and Raging Bull about a conspiracy by the OTCBB Market Makers to bring down the entire market. Many of the penny stocks have soared during the first couple months of this year which most likely contributed to the Market Makers being caught short on a lot of stocks.
Lets face it. There are a handful of Market Makers who control most of the OTCBB stocks with MM Nite being the largest. It would be easy for them to walk the majority of these stocks down. A number of investors have gathered time and sales figures for their stocks at the OTCBB site. I have seen posts where stocks have dropped more than 50% during the past few weeks when there have been more buys than sells! You can get net accumulation/sell figures for your stocks at:
otcbb.com
Let's share information and see what facts we can gather to provide to the SEC. This could get very interesting. |
