An investment buddy of mine, or at least he did invest, suggested a thing for us. He used to do this with his friends, when he played penny stocks. He is now in his sixties and retired happily. It worked for him, and I was wondering if we would like to try it here.
He played penny stocks for the most part, and a few larger companies in the 1-2 dollar range.
Here is what he did.
He accumulate say 100,000 shares of a penny stock, then all of his friends would do the same. Then each one of them would take turns buying 1000 shares, just a little bit higher than the going price. Sometimes, two or three people would buy at the same price, and by this, would artificially run up the price a little, making it more attractive to other investors. Most of the time it worked, and they made out with a good return. I was wondering, if we had enough cash, and enough people willing to particpate, if there isn't a decent move or anouncement, that we could possibly try it here.
For example. If we get the closing of .20 X .25, someone buy at .25, then two or three at .26, then .28, .31 or something like that. If it is well organized, we could attract a little attention here. If the price keeps rising, wouldn't the MM's have to change the bid ask with it? I would think so.
Any thoughts from anyone? |
