My dear buddy real broker, as in real, at this point is a friend of many years and the bigger and better he gets he still has time for the little guys from the past, which is very endearing, frankly, is always wide eyed and sounds rather excited about little gems I find, especially if they go up in a few weeks, which some do, and usually I'm not long, just talking.
He just wants ME, especially, to be aware of the entire penny stock operation. For those like myself who kind of day-dreamed that somehow I was actually buying stock from companies... And that therefore the COMPANY would give a darn along the way....NOT.
They go in and buy a huge stack of paper for about a penny a share, and now they need me to buy it for a lot more. Therefore they need a press release, and probably people posting on the net to help them.
Whatever, it works. My first burn was through high-roller on the west coast who gave me a high roller on the east coast news letter, from a guy claiming to be an old line sounding English name, which my broker friend says is the trend in the little bucket shops, and was quoting a list of names found in one scam, there was even a
J. Thomas Pinket, the III, type thing, who really was a Benny Kline, or Joe Blob, and that's how that goes.
The daily moves down on lots of volume is often MM to MM, which most of you guys know, and I was shocked. "Wait! I yelled to no one in particular. "Shouldn't this be punishable by law!"
Especially MMs in pennies make their many, many millions running tiny stocks up, and waiting for the bankrupt to wander off in desolation. Then comes a new press release for the fresh fish.
Now, when he first explained that I was indignant, and felt he was rather exaggerating. Now that I've watched JAXI, EUTO and OVIS, most specifically, I'm personally convinced all MM activitiy is a cottage industry of the mob, and theirs alone, and sanctioned by the government, that's why no one touches it. Just like the old days of booze in Chicago. Should I help it? Or should I question it, that is the question. I prefer the latter.
But that's me. I just think it is SO corrupt it has to be the mafia gone legit, and out in our faces.
Anyway, for that reason, they, several of them I guess, now have over $6,000 of my money, and will get no more.
If VTPI is ready to actually become a living entity, then it sounds like they have a great product, and already Lucent and others are salivating nearby.
That's all I'm saying. Does SI have to be a back alley where only fools get mugged, or is it a place for the sane and intelligent to decide where best to put money?
VTPI's PRODUCT, if it is there in fact, and developed, looks good on the surface, but to the guy with all the software and more expertise zapping through figures than you could imagine --he was instantly horrified and I was a little embarrassed by it all.
So. No, he's not a penny broker, he's a top line traditional broker with the highest commissions, and keeps HIS clients for life, I believe. I trust him.
Right now he was saying this was a sucker play. If you have additional info, and can move WITH the MMs, more power to you. That's legal. But you had better be on top of it every minute, I think, until they prove themselves as more than a shell on paper writing great ideas ON PAPER.
That's why I'm asking if anyone here has good knowledge and facts to the contrary, as I would love to have a small piece of such a product if it's going anywhere. If not, beware of MMs bearing lots and lots of stock they need to sell to get richer than the next MM next door.
Sorry to be so babbley, but I guess this is every post I've made about the strange world of pennies since I fell down the SI rabbit hole and began to lose money chasing them here, as well as 2-3 stocks elsewhere. There also seems to be a 2-3 hell where they sit forever. My original MM with the English name, who obviously was not, talking to him, said after $2.00 I sell, all the money has been made.
That slipped out in conversation, and I see he was just about right.
From the MM's standpoint, all have been fleesed, and time to start making hundreds of thousands rather than hundreds.
I did notice that this firm, which is now under the SEC gun or was a few months ago, and is shut down, had a disclaimer on the statements in small print that this firm was also a market maker in this stock. You know what that is? It is a prescribed Surgeon General warning like on cigarettes. |
