Why is it forbidden to talk about pennystocks on elite trader?

Debaser82 · Feb 9, 2009

And shouldnt this rule change now that the countries biggest banks are trading at pennystock levels and discussed anyway?

Thank you for your comments.

MandelbrotSet · Feb 9, 2009

it is notoriously easy to do the 'o Pump & Dump with'em, so discussing them at lenght has been banned for obvious reasons.

It seems that it's OK to have these Gurus run around and make false promises day-and-night, but you can't pump up penny stocks and then dump them on some poor clueless nobb (while taking his life savings in the process).

Does that sound fair?

:eek:

Debaser82 · Feb 9, 2009

Quote from MandelbrotSet:

it is notoriously easy to do the 'o Pump & Dump with'em, so discussing them at lenght has been banned for obvious reasons.

It seems that it's OK to have these Gurus run around and make false promises day-and-night, but you can't pump up penny stocks and then dump them on some poor clueless nobb (while taking his life savings in the process).

Does that sound fair? :eek:

I see and I understand.

I guess because of the number of people visiting ET this board would be an atractive podium to pump and dump as opposed to other smaller ones I visit where that isnt the case.

CaptainObvious · Feb 9, 2009

Quote from Debaser82:

And shouldnt this rule change now that the countries biggest banks are trading at pennystock levels and discussed anyway?

Thak you for your comments.

I could go in to a long diatribe, but I won't because it's a losing battle. I will state that the OTCBB is no more of a risky place to trade than any other market. It's said that there are too many Pump and Dumps, but I would argue that the worst offenders of the P&D can be found on CNBC each and every day. They can be found on every so -called legit message board like ET. Found in every single brokerage house, every banking institution, every fucking analyst, every MF'n....OK I wasn't going to do my rant. Let's just say I have a different opinion and one that's been very, VERY profitable over the years.

Port1385 · Feb 9, 2009

There is a lot of interest in trading penny stocks and many do make some money from doing so.

There should be a section on Elitetrader devoted to them. Simply banning them from discussion does not make anyone wiser about the risks and rewards of trading them.

I say that Baron should create a section for the discussion of penny stocks. Of course, he should prominently display disclaimers and warnings about trading them. However, its the buyer who has to beware in the end.

murray t turtle · Feb 9, 2009

Quote from MandelbrotSet:

it is notoriously easy to do the 'o Pump & Dump with'em, so discussing them at lenght has been banned for obvious reasons.

Does that sound fair? :eek:

=========================
Well yes your first paragraph ban does sound fair.

And BAC may become a penny stock ;
butit is not right now

And C is worth several dollars now;
so its a good rule, op dont worry about the few exceptions

Even the NYSE has a timetable to kick them out;
its not just a brief trip into pennies, it takes more time.................

ByLoSellHi · Feb 11, 2009

It's not.

Stocks stock_trd3r talks about everyday soon melt down into penny stocks.

WERD!

Port1385 · Feb 11, 2009

Whats the difference between losing it all on the Bank of America common and some sub-dollar solar stock?

Clearly, there is no difference. This penny stock rule should be abolished. Its outdated.

ChaosNSX · Feb 12, 2009