posted
.215 fella's...Glad I got out at .25 with some profit.
Out at .305 yesterday, 1 position Had 4 positions.
New folks, todays action is very good expieriance to learn from...
When I first put out the alarm? that was not bashing..What it became was people working together on info that began to show a dought that the holding of this stock at the higher levels was not a good idea until we can find out what the heck is going on..This is the behavior of Pinks..READ the news releases on these things FIRST! Many times you will see the pump and dump by searching in the release, search for who paid who what!
peaser is a long time poster who probably played this by the chart...Charts many times in the pinks can bite you..
Xkem was another example of people being warned.. .112----------->.0326 close, shows .0326 L2'S Several days coming down....
[ July 12, 2006, 16:21: Message edited by: Blue Marlin' ]
IP: Logged |
New folks, make sure you understand tax liabilities concerning trading stocks...
It always a good idea to deduct the tax percentage of profit and put it in savings just in case you have any profits over $3000.00 loss carry over from previous yrs. losses..
No carry over? Then start at first profits... Sometime it might be the profit for the year! lol
There are many loop holes, but I am talking to those who may not understand..Call an accountant, if you must..
IP: Logged |
posted
probably i'll regret it, but - i'm going to hold 20K shares GFCI long and see what happens. clearly it's become a daytraders plaything for now (heck, even fuddy-duddy me daytraded it monday) and the sudden rise and slow dip is hardly a surprise.
really what it boils down, as it does for all stocks, is: risk/reward. the only difference with GFCI is that the numerator and denominator in that equation are about 10x larger than what i usually deal with.
in rough terms, the market seems to be giving grifco a 10% shot of actually closing the deal: today's close is about 10% of the $2.25 number. personally, i give the whole deal about a 15-20% shot of going off. therefore, even though i see a roughly 80-85% chance of things going south, risk/reward still strikes me as reasonable for a small speculation given that 15-20% is > 10%.
i freely admit though: GFCI is not for everyone, and it's not the type of stock i usually play. it's my irresponsible guilty pleasure/dabbling in my normal sea of responsibility, if that makes any sense. i can live with it going to zero if that's how it plays out. i freely admit - any new traders would probably be best to steer clear of GFCI.
IP: Logged |
posted
not a tax man,,basicly posted what I understand from my accountant....I just drop everything off, call him when needed, he is on a sort of re-tainer..lol
I pay him $500.00 a yr. can go over..
But man can they be helpful in a realastate deal when ouy of state..I just call when I have to no something financial.
Done biz with the firm sense 86...Call your accountant, a mistake by me could cost ya....
Depending on your Brokerage house, sometimes someone will help you that is qualified..
IP: Logged |
posted
Posted by: GreedyFox2 In reply to: None Date:7/12/2006 6:08:08 PM Post #of 5015
For what it's worth, I called a guy named "JIM" * (936) 672-9244 and he mentioned that the Lyamec deal is legitimately in agreemnet and that they will be making an announcement over the next few days to update all shareholders. I'll be holding & adding on the dips.
" in rough terms, the market seems to be giving grifco a 10% shot of actually closing the deal...."
Yep. My assessment as well, Blue. Trader perception is one of caution. My opinion is a lot of the volume and spike can be contributed to naive traders buying into the news, which is usually a mistake.
Underlying this appears to be some seasoned traders taking a gamble as you are. The way this traded, it looks seasoned traders quit buying around .24 to .28 per share. Beyond that, giddy amateurs.
We both have watched many deals like this go south in a flash. Odds of this deal being completed are not all that good. You and I have noted and discussed this odd friction between the two companies.
I recall, last year maybe just before summer, Lyamec bought several million shares of Grifco and have since lost about half of their money.
These pr news awhile back were very hostile in nature, to the point of forced replacement of the Grifco management team.
This one is certainly a challenge to read. The social engineering part of this is quite odd, I cannot decide if GFCI and Lyamec hate each other or what. Certainly a hostile relationship.
Currently there is tremendous downward pressure. Looks GFCI may slide down to .16 to .19 within the next five to ten days. I doubt this one will fall below .15 per with so many willing to jump in on decent dips.
News may change behavior, but this news will have to be substantial; firm deal.
I may dabble a bit later this week or next week. Maybe looking at buying somewhere below .20 per.
Again, I agree, there is very little trader confidence this deal will close. We shall find out in time!
posted
Ok... so, i just talked to IR from Grifco. He told me that there was no way Jim Dial could have said that he turned down Lyamec's offer obviously due to confidentiality reasons........ so i dunno if that was said or not 6. He said that they are still being talked about and Lyamec is not merging I guess they are only assisting. A third party is actually going to be the one merging... He wasn't sure when the next PR would be out. So...... i guess take it for what it's worth. i'm clueless as to what i'm gonna do. gonna go play paper-scissors-rock with myself;)
-------------------- NDOL(well before the crash)FPPL BLDV CSHD WWEN?
IP: Logged |
posted
This will tank tommorow, before weekend, too. I wouldn't get back in till a PR comes out. It will be one week since the PR, and they left their investors in the dark...NOT COOL!
-------------------- Insanity: doing the same thing over and over again and expecting different results
IP: Logged |
quote:Originally posted by Purl Gurl: This is of no surprise, quite predictable.
yup, i agree. no follow-up PR today equated out to... another dip.
my impression is that there is a fairly big expectation/hope abounding that there will be a PR before market open monday. if there is a PR by then - who knows. if there is no PR by market open monday, then my guess would drift back down to .16 level on mon or tue.
my guess/instinct, which of course could be way off, is that latest PR raised the bottom support level from about a dime to about fifteen cents. so actually the risk/reward curve still looks pretty favorable to me for a small speculation. downside short-term looks to me likely to be on the order of perhaps 4 cents, upside certainly quite a bit more of that.
really i freely admit that grifco is a crapshoot/pure gambling though. jumping in too early means that you're likely to watch a slow decline, but jumping in too late means is possible to miss a runup caused by a followup PR, perhaps after-hours. just a crapshoot and depends on "if you're feeling lucky" and what one personally thinks of the risk/reward curve characteristics.
IP: Logged |
posted
no it is my belief that pinkies usually do not move in accordance with market trends or indicators. this stock has other problems as described it this thread causing it to tank regardless of the price per barrel of oil. jmho.
i would expect it to keep tanking today. however dyodd and gl trading today.
-------------------- I'm from Missouri - Show Me!
IP: Logged |
posted
is gfci a pinksheet stock? the reason I'm asking is because I see a bid and ask now on my ameritrade streamer, and normally pinks always show a 0
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
