Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46 -- Ignore unavailable to you. Want to Upgrade?

To: Jay D. who wrote (3778)	7/14/1999 5:02:00 PM
From: LegalBeast	Respond to of 5541

Sure, happy to ... first we have the day traders. Anyone who was looking at this stock when the news hit could have forecasted the spike and then the drop. So, you have a bunch of shares being bought only to sell an hour or so later. Second, you have folks who bought in at higher prices and then said "What do these folks do, anyway?" They were primed to sell out to get their money back on any pop in share price. Finally, you have the MMs. Now try to put yourself in the shoes of these folks. People are buying shares at a greater rate than folks are selling. But, you also know that this is a momentum reaction to this news story. So, knowing that later in the day, shares will come available as folks try to get out with small or no profit, you sell shares you don't own (naked shorting). Heck, remember that lecture we got from Greenspan a couple of months ago? Most daytraders lose money. The way they do it is to buy at a high point thinking that they are part of the momentum but really are on the way down and then sell out later at a lower value to salvage some of their money when fear sets in. I believe as do a lot of others on here and other chat lines, that we have seen not a 40M day, but perhaps a 10M day several times within the same day resulting in 40M total. Don't think for a min that there are 40M shares in new accounts out there that were not there yesterday. Lets be honest, .005 for a 10M day is not bad IMHO. If we do that every day till Aug 27, I will be a very happy beast for sure. Remember, bulls make money, bears make money, but pigs get slaughtered. Until morale improves, the floggings will continue ... Very long, presently at 400K and not selling any of them!