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Pastimes : My House
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To: Lazarus_Long who wrote (2681)10/13/2002 12:00:37 AM
From: average joe  Read Replies (1) of 7689
 
What most people fail to understand is that fundamentals mean nothing during the early stages of a penny stock play. 80% of all penny stocks come out with a zinger NR and the stock pops. Penny stock companies aren't flush with money, they need cash all the time. When the stock pops, the insiders sell their cheap paper. To gain further profits so that they can participate in another round of financing, they short the crap out of their own stock. Then when they beat it down far enough, they cover and take the money and put it into a private placement. Normally the stock is discounted 20% from market and there is an attached warrant.

"You can't hit big if you don't own stock. It's like the lottery, you need a ticket to win."
[ Duck Savage, from The Dead Cat Bounce ]
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