@SlowTrader, AnneMarita Sep 05, 11:26 PM Thank you Michael for this response. I appreciate it very much. I was getting a bit frustrated, as it seemed like no-one was reading my question, and just answered as if my question was about shorting. I don't know if you watched Michael Goode's webinar last week. He actually was also talking about the stocks that get halted and suspended. He too mentioned that the first day back on the market, the stock is most likely to start very low giving a great opportunity to play it. Just have to be careful as they can go back down just as fast. I'm sorry to hear that you had less than a pleasant experience in the past getting stuck in one of the suspensions. Today I spoke with an E*Trade representative who seemed to think that BITCF will be traded by them once released by SEC, and then again Ameritrade said that they won't. I will talk to another person on E*Trade whom I trust a bit more than just a random representative. Then I just have to play it by ear. Thanks again for taking the time to answer. Good luck with your journey.
Hi - saw your comments on Roland's page. You're correct - not many brokers will be actively making a market for grey sheet stocks (stocks coming off of suspension). I've traded, with pure luck, one stock that went to the Grey Market via TD Ameritrade (CMEY), but I have no idea how my orders were filled because, as you by now know, there's no bid or ask and no one was actively trying to make a market with my shares (I was holding shares at time of suspension). PHOT was a stock that got suspended (not one that I traded), and I know most of the investors that traded after the halt did not have CP accounts because most that traded that stock were small-time retail investors - not traders. Those types do not typically have accounts with CP. If you really really want to try this, just place an order with your broker where you want it and see what happens. Keep adjusting it based on current price. It's a very low-odds strategy (close to gambling) because you have access to very little market data (that I know of). There might be more data with BITCF, as it was highly traded, so I imagine there will be many bag holders hoping to trade once suspension ends. The higher the volume on these grey sheet plays the better odds, but once volume drys up, your chances of trading are slim. I'm no expert on this topic - just had an unfortunate experience as a bag holder and had to research the culture of grey sheets. Good luck!!
P.S. I wrote my answer above, since the length of the answer is so limited down here... :)
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@RolandWolf Congratulations, Roland on passing 6 figures! Great inspiration for other fathers who are getting no sleep! ;)
Thanks man! My only real quiet time for study and research starts at about 9:30 to 10 pm (once the kids are down) lol!
@SlowTrader I'm sure you can relate!
Ha - I can totally relate! Keep up the great trades and consistency. I look forward to 200k!
Yes! I'm glad you saw his webinar, too - I was going to suggest it since he coincidentally mentioned suspensions. Let me know how the trade goes if it works. Take care!
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