Elroy,
Gosh. I've sitting by, reading each post, not contributing because I have no IFCI at the moment, but I gotta bite this one. Investment rule #1-----THE MARKET MAKERS CONTROL THE SHARE PRICE! I've watched way too many Level II screens for hours at the time. And not only in illiquid stocks. Here's a #1 example.
DELL today was a rocket ship. I watched it (Level II) most of the day. DELL gapped open and started to run. Run. Run. On each side, most of the MMs had 1000-3000 share blocks at a time. Few had 10k. She was still runnin'. All of a sudden 42 came into view (about 3 tick up). They did not want it to punch through 42. Every single MM (probably 20-30 of them) had at LEAST 15K-20K shares on the ASK, all the way down. It was like running into a brick wall. The price dropped back, of course, and then started to run again. Guess what, the next time we got to 42, there were maybe 10% of the shares there, that were there before. And no, they were not all bought the first go around. It didn't stay at 42 long enough the first time. Elroy, they will drop the BID on anything in a second to run the stops on the daytraders. It's a battle.
Having said that, this recent euphoria in IFCI has everyone giddy. Guys, I invested in IFCI when Ron Cram was recommending it. I've made a bundle. But if they don't make a GOOD showing this Q. It's back to 7 and below. Be careful!
Just wondering, who else on this thread bought IFCI on the Ron Cram recommendation? I remember the newsletter that month. The headline was: "BUY IFCI NOW" It was under $2 then. Ahhhh, the good ole days.
Regards,
Chris |
