Coleen:
I am defending no one, however I would like to say that many, many investor's (so-called day-trader's) we're holding this stock long. Looking at some of the most popular SI threads (other than GE <gg>), I was surprised at the amount of posts centered on MINE. By definition a day-trader is someone who closes out all their positions at the end of each day. Anyone who bought as a day-trader yesterday could have only lost $$.
One rule that cost me tons of cash to learn with pennies, is always know where you are going to get out (minimum bid) even before you make your initial purchase. There were a lot of people yesterday who had to re-adjust their position based on their own comfort level. Once the 8-K hit, I'm certain some reconsidered what their comfort level was...based on their interpretation of that document.
Remember that anyone who bought should have written off their investment before pulling the trigger. If they were worried, they should not have bought.
We had a real nice friendly and helpful thread here, and as usual when things go South on a BB stock, blame is passed everywhere, when in fact the blame clearly rests on the shoulders of the buyer him/herself.
Certainly, no one expected trading on the pink sheets, and yes it is not only an inconvenience but also unfair to many investor's...or is it unfair? My belief is that anytime you are involved in a BB stock, with no real rules to speak of, you are at the mercy of not only the MM's, company managers, presidents, and IR's, but also stock manipulators. In no way did I see any influential posts from anyone yesterday or today that could be called "manipulation". At the frezied pace the stock was trading it was impossible to be manipulated. Think of the trading during the Oracle debacle of last October. Trades were going by so fast that it was impossible to even track them at quote.com. There were something like 20 million shares traded that day. No room for manipulation their either.
We always welcomed new posters before, and I don't feel that getting extremely picky about the EXACT wording of a post or using capital letters, is worthy of all the bickering and nit-picking. Why not try to get back to doing some more DD. --GARY--
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