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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: RG who wrote (25298)4/24/1999 9:54:00 AM
From: Lola  Read Replies (2) of 37507
 
I did not buy it before when it was on the TSE because it sat in a certain price range for quite awhile and I thought it had pretty much peaked and that Internet stocks on the TSE would never fly like the ones on the Nasdaq.

Then all of a sudden in a matter of days, the stock multiplied. I thought it was a danger signal since Internet stocks on the TSE had never done that before. To be quite honest, I suspected there might be some sort of market manipulation going on (hard to do on a computerized trading system but it is still possible). I feared the stock would suddenly crash without any notice and it did.

The reason I didn't buy on Friday is because I know how the US market makers manipulate stocks and cause wild swings only so that they can benefit from them. I may not get my target buy price, but my experience tells me that if I wait long enough that might just happen.

The stock may start going up and never look back but as a good trader my job is to minimize the risk as much as I can and walk away from a stock if I missed the safe entry point. Unlike some others, I will be very happy for all the longs in BIDS even if I do not personally benefit from the stock rise.

Also, keep in mind that next week is month end and brokerage houses (especially Canadian ones) do some serious margin calling and alot of people will be forced to sell even more than they were last week.

Lola
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