I had considered gambling with an obvious P&D and taking a deliberate chance with timing a pump cycle, but decided I was better at blackjack and it takes less research time. Getting burned in a big way, and the discovery of just how many ways individuals behind the scenes can manipulate a pink, had me thinking that it was probably too hard to find the few legit small-caps worthy of investment.
Once again, In my very humble opinion, you have summed up the state-of-affairs that so many of our fellow investors have succumbed. Will you please look at this....
FCDH -- First Canadian American Holding Corp.
Com (No Par)(New)
Primary Venue: Pink Sheets
Best Bid: 0.0005 (5000 shares)
Best Ask: 0.0007 (5000 shares) *
Percent Change: +100.00
Tick: Down
Daily High: 0.0007 Daily Low: 0.0003
Opening Price: 0.0004 Volume: 1,000,398,085
Annual High: 1.6960
Annual Low: 0.0002
Have you ever seen that before? 1 BILLION SHARES TRADED? I haven't been around the micros that long, but I think that's about as big as it gets. And the high of the day was .0007...I believe their website claims the float was 30 mil as of 3.28.05(after a 1 for 10,000 R/S...they had a A/S of 300 BILLION at the time)....think that's correct at this time? I'm not going trying to sit here and bash FCDH,(this is a perfect stock to practice spotting red flags on) but we have to call it what it is....a gamble, not an investment...waitless just described it perfectly in the above paragraph. It's what happens when we get frustrated trying to pick out penny's or sub-pennys(the next HISC) that we want to go long in...we keep getting burned over and over until "dancing with the Dragon" seems like our best option...and hey, at least it's fun....and I'll be the first to admit that I have done the exact same thing. Matter of fact, I still own a couple of stocks that I wouldn't tell my mother about<ggg>....these stocks have driven me nuts for months now and thankfully, I have come up with a solution that works for me....I sold all the DB's I really didn't think much of to begin with, and the ones that still have me a bit of a spell, I reduced to a number that I thought I could just forget about. I started thinking about it like this...why keep millions shares of a company that seems doomed? I could scale back to 1 million shares and still be covered if they hit....after all, I don't want to give them a chance to really break my heart.
Anyway, my point is that we don't have to do that...we are trying to do something extremely unique and perhaps never been done before...come up with a system that takes the gamble out of pinksheet stocks. I believe that it can be done, because of the information age, that is now a reality...true enough, pinks were nothing but a lotto pick just a few years ago because information was so hard to come by...matter of fact, the market makers were about the only ones that could get it...but no more...we can build a process that enables us to screen our pinks. Make our investments. Build relationships with management(check out what just happened with VWKM...but please don't buy any...yet). And then just wait patiently to reap what we have sown, while looking for our next stock(and calling the TA every few weeks, of course:).
Thoughts anyone?
GodBless-NoDoubt
cris
P.S. IMVHO, we aren't wasting time...the psychology is the part that is going to make the difference...way more than the T/A. |
