WTH is going on? Is EliteTrader credible?

C

cscott

What the hell is going on here at EliteTrader forums!!! I posted 2 stocks recently that I predicted were good buys, STG and MEMY, and both threads were removed. FWIW, STG went up over 17% and MEMY went up over 30% today.

With threads being removed, the credibility and usefulness of EliteTrader seems questionable. I can only guess that our new moderator, Electric Savant, removed those threads because he didn't like what I said about one of his wife's recent posts.
 
Quote from forex-forex:

My guess is that those where stocks listed on the OTC Board. Too many scams over there.
More...
No, they are not OTCBB stocks. STG is on AMEX and MEMY is on NASDAQ. Awhile back, ElectricSavant's wife made a hateful post that I objected to. No posts of mine were removed before that.
 
Quote from cscott:

No, they are not OTCBB stocks. STG is on AMEX and MEMY is on NASDAQ.
More...

Memory Pharmaceuticals Corp. (MEMY) is on the OTCBB, I just had a quick look. I assume the other stock is also.
 
Quote from forex-forex:

Memory Pharmaceuticals Corp. (MEMY) is on the OTCBB, I just had a quick look. I assume the other stock is also.
More...
I just double-checked and do not see them listed on OTC in my IB contract information. They say they are listed as I previously stated on the NASDAQ and AMEX.
 
Quote from cscott:

I just double-checked and do not see them listed on OTC in my IB contract information. They say they are listed as I previously stated on the NASDAQ and AMEX.
More...

www.otcbb.com and enter MEMY. Only a fool would follow your recommendation.
 
Quote from forex-forex:

www.otcbb.com and enter MEMY. Only a fool would follow your recommendation.
More...
Stocks that are not OTC also come up with quotes. Type in GM and you will see, and we all know GM is not an OTC stock. Check again, my friend, NEITHER OF THOSE STOCKS is an OTC stock. Call me a fool if you like, but fact is they both are making money. Have a nice day!
 
they are not otcbb but stg is priced @1/4 of $1. amex is a shitty exchange and these kinda low price stuff may be not that different from otcbb. if i am correct conduct rules dont allow discussions on PENNY stocks. nutz zo zure tho.
 
cscott,

If you had bothered to read your PM's you would know the situtation (both the one I sent you on Oct 9th and the one I sent you earlier today before you started this thread). Both MEMY and STG are penny stocks and ET has a policy against discussing penny stocks (see the description of the Stocks Forum). Rather than try to individually evaluate each and every stock (re: avg trading volume and ever-changing market cap) we tend to take the broad view that stocks trading under $5 per share are generally seen as penny stocks (and most brokerages won't permit shorting). There's a reason when stocks sell so cheap, and it usually isn't a strong company. Nevertheless, can there be great opportunities trading cheap stocks? Absolutely. But there's also great temptation to pump/dump such stocks, and it opens up a Pandoras Box that we'd rather not contend with. Also, if we let one thru then everyone else will be complaining, "you let him post his penny stock, why can't I post mine..." There are plenty of sites that cater to under $5 stocks and we request that you take your discussion to one of them. Thanks.

Magna
 
You must log in or register to reply here.
Back
Top