Buys and sells, whacks and slaps and how to deal with Bashers

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What do the terms "Buy" "Sell" "Whack" "Slap" mean?

Here is a conversation I had with someone today and it drove me crazy, briefly.

‏@BigCheds

#OTCBB I can not stand the "buys" vs "sells" terminology people use, given that for each transaction there is both a buyer and a seller.

‏@BigCheds

Me: I bought 10M shares today. You: How? I only see sells, its all red on the tape. Me: *facepalm*

The most common terminology (which is despise) is to classify a ticker as either a buy or a sell. A transaction on the ask is considered a "buy", and a transaction on the bid is considered a "sell"

A little more nuanced way to refer to these transactions is a "slap" or a "whack". A slap is an ASK slap, when you decide that you want to pay the higher price for it. A whack, or bid whack is when you are already holding shares, and decide to sell them into a bidder.You are convinced you can not get a higher price for your shares, so you sell into the bid. (also called "dumping")

Cheds Breakdown:
The terms "buy" and "sell" are dumb. Every transaction is both a buy and a sell.

While we are on the subject of dumb phrases, lets talk about the over use of calling a ticker a 'Scam"

Stop calling that ticker a SCAM, If everything is a scam, then nothing is a scam.

I cant tell you annoying it is when I see a basher say - "This is a scam, beware because so and so actually lied on this PR or that PR, and xyz product has no sales and there is no warehouse" and blah blah blah.

You are debasing the word itself. To call something a scam implies that it is not what it seems. I would contend however that what "it seems" its another random OTC ticker with 1B or 4B AB and notes to sell and upcoming catalysts, possibly some missing filings and who knows what else.

That's called normal.

So to to call it a scam would actually imply that anyone expects this to be a legit company, focused on OTC COMMON shareholder value.

Cheds Breakdown:

I start out assuming every ticker is an absolute POS and plans on fully diluting the AS and then RS. I don't even think of these tickers are companies, I think of them as FOUR LETTERS

So, dear Basher, If your goal is talk negatively about a ticker and drive the price down, it has no impact because we as smart OTC traders start out knowing that.OTC is a con job. Only rubes take these companies/CEOs seriously, and the price of that mistake can be in the 6 figures.

If you are a smart basher then you would talk about how my ticker has a lack of liquidity, a lack of bid support, no momo, etc etc. I honestly dont give a F about the CEO personality or lack of products on the shelf. Thats not how I roll