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Microcap & Penny Stocks : ICVI (now MTEI) -- Ignore unavailable to you. Want to Upgrade?

To: sandstuff who wrote (7543)	6/4/1998 12:01:00 AM
From: Harry	Read Replies (1) \| Respond to of 11850

I get your point -- if everyone sold at the same time the stock would tank. But these penny stocks really can swing. I don't see anything wrong with trying to sell off some when it spikes up and buy back in when the stock is looking for support. I've read on other threads this strategy referred to as BTS (Buy the Swings - if I got the acronym right). You end up with more shares and still hold a position in case the stock continues to run up. If everyone tried to do that, I think the stock would tend to stabilize a lot more. We could see gradual increases over time rather than these wild swings with daytraders and MM antics. There is nothing worse than watching a stock that you just bought near a recent peak drop 50%. I happened to time MTEI right (sheer luck!), but I had bought several other stocks that dropped 50% or more within days. I end up kicking myself for not waiting to get in at a better price. Shouldn't the strategy be to buy low and sell high? IMO, if we can't avoid the wide swings, then we should at least attempt to do the opposite of what the MMs are doing. When the MMs are selling short, getting ready to drive the price down, we should take some profits and buy back in to support the stock when it falls. So I'm very interested in learning to read the charts or TA. It's part of the game in these penny stocks and the MM hold the cards in setting the price (at least short term). When I buy, I prefer to buy in during a pullback and sell when the stock has run too far ahead of itself. Does this make me a daytrader? Right now I have little money to worry about tax consequences and my orders don't move the stock price at all. Although I did set the pre-opening price two days ago when I put in an order for 300 shares at 15/16 (couldn't believe my little order would get mentioned in this thread! I'm just one of those gnats buzzing around the big stakeholders (Mr. D, Macker, etc.). Hoping to one day have enough funds to require a buy and hold long term strategy. These Rocketeers are convincing me to hold this one long. Success to all, Harry