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Microcap & Penny Stocks : WR, LB and Friends. NO HYPESTERS OR SCAMMERS
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To: Stuart Cole who wrote (573)2/28/1999 7:13:00 AM
From: Tom Allinder  Read Replies (1) of 13776
 
Yes Stuart, we do discuss shells. We discuss what a ripoff to new traders/investors they are. Shell runners are very tempting to new traders. I know because I did it myself when I was new. The thought of buying 50000 shares of a .01 stock and having it run to .10 the same day and make a huge profit "seems" easy and a quick way to build up account value. The fact is though... the shell runners quietly position themselves in a stock buying 10K, 20K or 50K blocks up to two weeks before they start hyping the stock. Now, they are usually in at .005 or something like that (AT THE BOTTOM). They sell during the day into the buying frenzy and make a fortune. The stock then plummets that day or at the open the next day leaving many holding the stock at .02, .03 and so on. The price of these things always returns to the same level; which is generally sub penny. Bottom line is: Unless you position yourself at the same time as the scammers, you are very likely to lose some, part or most of your money.

Tom
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