Broadway-
One valuable step we could ALL take is to REMOVE STOP-LOSSES from our shares. I have no stop loss. Yes, it takes guts and faith. However, if and when the marketmakers begin churning, dropping bids in order to create the illusion of a huge sell off, automatic stop losses can start kicking in, which creates more outstanding shares, which drops the price further, which panics people, giving the unfriendly marketmakers what they want- cheaper shares and short covering at YOUR EXPENSE.
It is a leap of faith, but faith is what it takes to lift the price up to where a handsome profit can be made by all. Any thoughts??
While on the subject of unfriendly marketmakers, I have called my broker and talked to two different managers at two different times about share certificates being loaned out for shorting. My brokerage caters to military officers (USAA) and is known for being a very straight up company. Both assured me that it was totally against company policy to loan out shares from a cash account (margin accounts are fair game), and that they would stake their jobs on the fact that it did not happen. Safekeeping is another option I haven't explored. I want to take no chances.
By the way, Broadway, is there any way you can know which marketmaker firms or individual marketmakers are short? You may want to share that information with the company, Jeff Brommer, and Sitra. They are best able to fire a missile or two at them. By the way, that was a terrific post. I printed it out and will read it often.
Cordially, Jim |
