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  • penystoc penystoc Jan 8, 2011 2:42 PM Flag

    2.4 billion at the bid

    2.4 billion was bought at the bid not ask. this leaves 4 bill in the float if and it is an if they are not issuing shares in the past 2 weeks. Penny stocks are very tricky. with a 4 billion float it would take buying pressure of over 750 million per day over 2 days to get the dog to move. If some of the buying even if is at the bid over the past few days would represent accumulation on some type of stealth buy back it would gun the thing very quickly. If they announce a buy back is in progress already it would gun the beast to over .001 quickly. No one but connected individuals and the company are able to buy at under .0002 for the past week. At .0002 you risk 200 plus commission for a million. The risk is total wipe out on a reverse
    split. The up side is to .001. I placed this bet knowing full well my exposure of 209.75. It's an OK trade but not great. I have better ones but this is not about any thing other than this beast.

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