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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: Freddie Forte who wrote (23917)9/12/1998 8:16:00 AM
From: ChrisJP  Read Replies (1) of 27968
 
Hi Freddy, I read your post and agree with a lot of what you said. I have some other thoughts for you to consider.

The penny runups are not as closely tied to the calendar as you might think. They seem more to parallel the Russell 2000 index. Last year there was a lot of penny speculation from May - Sept. This year it was Jan - May.

If a speculative mood returns, then penny stocks will come alive again. However, the chances are that they will be a different set of the pennies than those that were in the limelight in the previous cycle.

Rampant speculation in pennies is usually the sign of a market top. I thought the bull market was over in Nov 1997, but I was wrong. However, this time it could be over for real. If so, there will be no cycle of penny speculation. So be careful when deciding to load up with out of favor pennies. Some could remain out of favor for a long time -- like forever.

I also posted back in August that the merger rumor looked like a "fake rally" to allow MMs to get rid of shares at higher prices. Why would I conclude this ? They did it to EXSO back in March. I was in at .12 saw it go to .25 and foolishly did not sell. I eventually sold most at .12 but sold the rest for .05. When you get conned, you learn how to recognize how you got conned so it doesn't happen again.

Do you guys remember HNLY ? It was running up around the same time as FAMH. IMO, HNLY management used very similar tactics to FAMH to get the stock up to .50 - .60 and release a few million shares into the float. Read some of their thread, it sound a lot like this one.

Regards,
Chris
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