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On the subject of risky plays... FTCH

63,534 Views | 1050 Replies | Last: 5 yr ago by Ulrich
Levins Market
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guys, I don't know if its anyone on here, but don't sell under the ask... you'll get filled at ask with this stock.

Some morons just killed any momentum of breaking .16 and hitting .18-.20 today.
Ragoo
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AG
hope my order went in, wont know until i get home
dreyOO
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yep, someone just dropped us down...joy
Levins Market
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we'll still see .30 EOW....

If its a novice, I cant really complain... if its some selfish ******* who knows what he's doing, I hope he loses his profits.
BT1395
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AG
Levins -

Why is the number of shares in the ASK staying constant at 5K?

TIA
Levins Market
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What brokerage are you using? Ameritrade stays constant, but that is not correct.


If you have a subscription to a streamer, you'll see the lot sizes.
BT1395
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AG
I use TD Ameritrade and can see the lot sizes after the trades have been executed, but the BID/ASK info (which seems current on other equities) stays constant at 5K for the ASK.

Just never seen that before...
Levins Market
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That is frustrating. I noticed that as well.

I subscribe the IHUB and Ameritrade Streamers and see them.

Not sure why it doesn't update on the main stock screen???
Levins Market
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Still up 27% for the day! New 52 week high!

We've chewed up shares and the MMs are THIIIN from here out.

The people in the stock now are the determiners of where this goes. Buy on Bid or whack under Ask and it will stagnate. Buy on Ask, sell on Ask and this keeps going waaaaay North.
ARCHag08
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A couple of things, I'm very new to trading and i'm in on this at .04 and .13. I use scottrade and i have to buy on limit.
What are MMs?
How do you buy ask vs. bid?
Levins Market
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MMs are Market Makers or Momentum Managers as some say. They dictate bid and ask prices. They are funds that people route their orders through.

In my example of FTCH, Look at the bid x ask of a stock, and when you want to buy or sell, you take the ask price and enter that as the price you want to buy or sell at.

[This message has been edited by Levins Market (edited 5/13/2009 4:28p).]
Tabasco
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AG
quote:
A couple of things, I'm very new to trading and i'm in on this at .04 and .13. I use scottrade and i have to buy on limit.
What are MMs?
How do you buy ask vs. bid?


Just to reiterate what he said...


First, Scottrade only requires a limit order on stocks under one dollar. I assume all others (e.g. TD Ameritrade) require this as well.




Ask= someone is selling and did a limit order

Bid= someone is buying and did a limit order


So lets say FTCH is at .15

You have people posting limit sells (Ask) from .15 and up... such as this:

.25 150000 shares
.17 1000 shares
.16 1500 shares
.16 5000 shares
.155 2000 shares
.15 1000 shares

(notice once the shares through .17 get bought, the price will likely jump to .25 unless other people jump up to sell. Because .25 has a lot of shares, that is a point of resistance)

You also have people buying buy posting limit buys (Bid) that will be under .15 because they are hoping for a pullback or dip to get them at a discount:

.149 1000 shares
.145 1500 shares
.14 1000 shares
.135 2000 shares
.13 450,000 shares

(note at .13 there is a large block that might act as as support... meaning if it dropped it might take a while to chew through all of those shares)


In the above case, there is an impasse. Nothing gets traded because there are no buyers or sellers agreeing on a price. What moves the market is when someone decides to pick the bid or ask. So let's say I want in this stock bad... I will put a limit order in for .15 (if it is only 1000 shares, it executes... if it is more, 1000 gets printed and the remainder hang until someone else posts a limit sell at .15). This is buying the ask.

If I want to buy the bid, I can put a limit order in to buy at .149 (to save a thousandth of a cent), but I would be behind the others that posted at this price. If I put a bid in for 150000 shares, they may get picked up, or the price could go up and I could miss out getting in. Hence, if you want to get in, bid the ask.



[This message has been edited by Tabasco (edited 5/13/2009 8:55p).]
Blue Duck
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AG
Nice post. That's the kind of information beginning investors like myself need to see.
old ag 2003
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AG
Token: putting that 10k to good use gambling on FTCH and the Nuggets huh? Your dad must be proud...
Ragoo
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AG
put in a bid at 0.16 this morning, my order didn't go in yesterday
Levins Market
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very good example Tabasco... I apologize to some of of you who are new to the technical jargon... just ask!


.135 x .14 this morning... very tightly wound and a couple hits at ASK is going to pop this thing. They don't have anything at .15 and very little at .16, so a little tap at .16 and this thing will start moving heavy to the 20s. Lets just hope we don't have any bid whackers out there this morning.
HawgDriver1
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AG
Great explanation Tobasco. Thanks for putting it into layman's terms.

I envy you guys to jumped in sub $5 on this one. I'm intrigued from the sidelines where this one is going.
Cru
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S
It's still sub $5...
HawgDriver1
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AG
oops, decimal places can be a *****!

Sub-nickle, then.
Levins Market
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I assume he meant $.05...

Looks like we may have a gapper this morning...

Bid/ask is .145 x .155
Levins Market
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its gapping... lots of orders being called in before opening

.15 x .155 .... the train is leaving the station!


Levins Market
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hahahah, nice!... .155 x .16
Ragoo
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AG
levins can you see if an order for 790 shares at 0.16 went through?

trying to start a position and build to it when i get some cash freed up from other holdings
txag020202
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Seriously, am I the only one that think this thread smells like a fish market?

Every time I open it I feel like my aunt is trying to sell me MonaVie, Acai Juice, and Arbonne all at the same time.

Mr. Levins has used 63 !'s in 70 posts. If FTCH does crash, you have a future in infomercials.


hud1225
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AG
quote:
Seriously, am I the only one that think this thread smells like a fish market?

My fish smells like wads of money!

quote:
levins can you see if an order for 790 shares at 0.16 went through?

I don't see any orders having gone through for 790 @.16

Smallest order that went through @.16 was 2000
Levins Market
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to each their own.... here's a 64th and 65th for you !!
Skitch05
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AG
Hopefully everyone here understands the risks of playing penny stocks. Especially penny stocks where a few individuals hold a majority of the shares. Definitely don't put more into this than you can afford to lose.

For the record, I do have a small position myself.
Ragoo
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AG
quote:
Smallest order that went through @.16 was 2000



anything go through at 0.15?
hud1225
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AG
Nope, only .155
Levins Market
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sorry Ragoo... I missed your post. Yes, I do not see a block of 790 shares.
swingline
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30aga03,

Thanks for your concern. I don't understand why you're so upset about this thread though. If people are willing to put their own hard-earned (or given in one case ) money into a stock, you have to believe that they have done enough due diligence to make their own decision. You keep calling it a gamble, and I think that that's pretty obvious. The ticker symbol has a freaking .pk behind it! It's risky! I think we get that. Also, I don't think anyone is throwing their life savings at this deal either.
ARCHag08
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that was me at .16 x 2000
Ragoo
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AG
damn, i am trying to set this up with scottrade, but I have to do a limit buy so I am a few cents higher than the close and it still doesn't go through, this is the third time ive tried to buy
Cru
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S
30aga03, then short it.
Levins Market
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YES, PLEASE TRY TO SHORT IT!

1 MM LEFT UNDER $1... THEY ARE ALL OUT OF SHARES.....
 
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