What a shocker – shares in the former online dental records webiste company turned miners, Santo Mining Corp. (SANP) crashed after lunch on Monday. First of all, SANP stock just came onto the spotlight Friday and got chased like Chris O’Donnell in that 90’s movie, The Bachelor, before it ever got a chance to take off its shoes and settle in. Secondly, there are no prenuptials when trading penny stocks and Orville Redenbacher isn’t the Chairman of the OTC.
Translation: If you chased a pump and dump, are down or sold at a loss today, and are ticked off because you didn’t make 500% gains since buying during the last 15 trading session hours – go cry to your momma!
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SANP Stock Chart
Market Cap: 79.12M
Close: 1.25, down -0.45 (-26.47%)
Dollar Volume: $6,000,374
Average Trade Size: 1,864
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Trading penny stocks is a risky venture – all of you know this already. When you’re flush, you think you’re King Kong on Cocaine. When you’re bust, as is the case today with the short seller attack, dump, lack of confidence in SMA, whatever, you rush to boards and want everyone to hear the whine. iHub doesn’t sell cheese!
It’s half a trading session even though it seems like deja vu for those who chased the VLNX truck full speed right before it slammed on its brakes and knocked your teeth into the back of your head. You probably could have accessed the dental records from that incident at Santo Mining’s drdentalspa.com which is what they did before they chose to switch gears and become miners in the Domincan Republic.
So, what penny stock traders need to take from these recent events which seem to have become the norm is to DO YOUR DUE DILIGENCE!
Getting in early can be done by anyone if you do your due diligence. If you are waiting for someone to tell you to jump by grouping together in a corner of the internet world called a message board all praising the future gains that are due to come once that email hits your inbox – you are sheep leading yourselves to your own slaughter.
The information is readily available and due diligence can be done by some faster than a visit to the urinal after a couple of beers.
About MNGA Stock
Bottom Line: SANP lead all penny stocks in total trades and, for one rare time that I can remember, trades were greater than the average trade size was. Size does matter in most cases, but to see that the average trade was for 1,864 shares, down anything less than 30% in SANP stock isn’t that big of a deal.
From this point further, the power is in your hands until the market opens. Complain all night long and the shorts will attack in the morning. The power to scare them off comes in the message board posts and chat room discussions. They are watching and waiting.
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