I've actually made about $100 with Salon stock as an experiment. Before anyone accuses me of sleeping with the enemy, here's how I've done it: Basically, when the stock drops below 13¢, I buy a thousand shares. Then, when the stock jumps above 17¢ I sell. The stock usually peaks because the liberal nitwits inevitably bail the company out with a large cash infusion. The liberal mentality will
never let Salon die, so every time some big money lib bails out Salon, I walk away with a small cut.
I've done this a couple of times, each time with at least a 30% return. Salon is so cheap and volatile that this trick actually works with only a little capital investment. I'm afraid to try it with a larger dollar amount, though, because of the eventual possibility that the libs will wise up and stop saving their virtual fishwrap.
Indeed, someone is buying them and proping up the stock...check out the volume in post #3. Wow. the transation cost must be killing 'em! From yahoo....
% of Shares Held by All Insider and 5% Owners: = 81%
I though of doing what you're doing but...Too thinly traded for my blood.