posted
GTOP scares the crap out of me right now. it traded slow all day, closed at .75 (down 6%) and then first thing after hours, two giant blocks of ~1.25M shares went through, both at .75
i can think of several things:
1. an institution decided to liquidate their holdings, saturating the market at this level.. whoever bought the 2.5M shares has spent their money already, there's that much less cash in the bull pen. bearish action should follow.
2. an institution decided that GTOP is a bargain, and cleaned up the slop, picking up a whole lot of shares from whoever was selling.. there being a shortage of sellers now, bullish action should follow.
3. two institutions arranged to swap their holdings, part of some deal or another. that's why the price didn't budge even though the volume was monstrous.
4. since the drop few days ago, there was short selling -- now the shorts covered.
um.. yeah. so. any of the above could be true, but probably something else altogether is going on. as usual, no prediction can be made, so this is all just hot air..
i'm long 500 shares, and not sleeping in late tomorrow morning..
-------------------- the market is not your mother Posts: 1282 | From: Montreal | Registered: Mar 2006
| IP: Logged |
posted
dunno about GTOP... eod action today looked like there's a smidgen of bullish interest.. but if it doesn't pick up this week, i'm out. there's other plays out there..
-------------------- the market is not your mother Posts: 1282 | From: Montreal | Registered: Mar 2006
| IP: Logged |
posted
I would like to join you in the challenge. I'm not going to be as ambitious as you for now, but I would just like to attempt to get my capital back. So, I'm going with a $6,500 to $17,000 goal.
$6500 is what is left of my original $17,000.
If my words seem familiar, I'm sure some of you will figure out why. But I don't fear the IRS, I fear my spouse, who does not yet know the extent of the loss.
quote:Originally posted by 2008willBgr8: I would like to join you in the challenge. I'm not going to be as ambitious as you for now, but I would just like to attempt to get my capital back. So, I'm going with a $6,500 to $17,000 goal.
$6500 is what is left of my original $17,000.
If my words seem familiar, I'm sure some of you will figure out why. But I don't fear the IRS, I fear my spouse, who does not yet know the extent of the loss.
Smiles, 2008willbgr8
Cool! Welcome aboard Will...If you don't mind. what did you lose it on penny stocks?
I am wdcisco but I have changed my name to Stock Weazel...has a better ring to it eh?? lol
I am paper trading at the moment...tryin' to develop a daytrading strategy...I would recommend that you focus on "big board" stocks...they are usualy a lot less risky and easier to predict IMO...
posted
Well, I started out losing it in penny stocks. (my "faves: CSHD, XKEM, XSNX) Then I switched to Big Boards and had a series of stupid choices on most and bad timing on others. (Crox, JSDA, FRPT and many more) I am the poster child for not getting out when I should. And also for buying and selling at just the wrong time.
I'm trying to do some shorting now, but I don't have a lot of free capital left. I Just got a margin call yesterday and I need to solve that by Wednesday.
quote:Originally posted by 2008willBgr8: Well, I started out losing it in penny stocks. (my "faves: CSHD, XKEM, XSNX) Then I switched to Big Boards and had a series of stupid choices on most and bad timing on others. (Crox, JSDA, FRPT and many more) I am the poster child for not getting out when I should. And also for buying and selling at just the wrong time.
I'm trying to do some shorting now, but I don't have a lot of free capital left. I Just got a margin call yesterday and I need to solve that by Wednesday.
"Will"
It sounds like you don't know the basics of chart reading...go to this thread
posted
nice collection, Ace. but there's chart reading, and there's psychology. i read charts well, but got a gambling problem.. all the technical expertise won't help with that..
-------------------- the market is not your mother Posts: 1282 | From: Montreal | Registered: Mar 2006
| IP: Logged |
quote:Originally posted by fourseven: nice collection, Ace. but there's chart reading, and there's psychology. i read charts well, but got a gambling problem.. all the technical expertise won't help with that..
LoL...you're honest with yourself so you'll be fine if you practice keeping emotions out of it... some people at allstocks haven't a clue what they are doing wrong! Posts: 2321 | Registered: Aug 2006
| IP: Logged |
posted
you guys ever read dardadogs system of fast, penny-stock, daytradin?.. if not, he is the king of fast,trigger-quick,money-makin,day-tradin skills...do a search and learn his way to do it...
do da due, but be quick about it!!(his quote)
-------------------- jordan Posts: 5812 | From: st paul,mn | Registered: Feb 2004
| IP: Logged |
posted
Okay, I'm "back" to update my trading log. I wasn't sure how to account for positions that I haven't closed but that have gone up, so I just put it on there, as "still holding". So my position has improved just a little bit in two weeks.
As you can see, I definitely have a problem with short selling and getting nervous and selling too soon. With TGT, after I shorted it at $53.20, the rate cute came out and it zoomed up to a high of $56.17. Because of that, I was gunshy and didn't want to hold it overnight again, and so, I covered too soon, and took a loss. Missed out on profits, as it is now trading at $51.60.
With MON I should have kept my short longer as well, but since I had profit on that one, I am not as frustrated about that trade.
Jury is still out on SPAR, since I just covered that one Friday, but if my trend holds, I probably covered that one too soon as well. But again, since it is a profit, I'm not going to cry over that.
How have you been doing Weazel?
"Will"
Edited to add: LOL, I just noticed the date on my SPAR trade. That should have been 1/25/2008, not 1/30/2008. (I must have copied down the settlement date) Posts: 3 | Registered: Jan 2008
| IP: Logged |
I've been doing good. I got my ONCO shares and those are working out for me.
But I'm having the toughest time getting money into my new trading account. I tried wiring it...that didn't work out. I tried sending a check priorty mail on Thrusday got there at 5:03 they close at 5:00 arghh...Went Friday morning to send the check and things were fine...until I got news yesterday that the "address could not be found"...I sent an email to Prodigy Trading just to verify the address..I think it was the Post office's mistake..but yeah sorry for the long story...I needed to vent.... Posts: 1075 | From: weeeeeeee | Registered: Sep 2007
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
![[BadOne]](graemlins/headbash.gif)
![[Wink]](wink.gif)
![[Razz]](tongue.gif)
![[Big Grin]](biggrin.gif)
Welcome aboard Will...If you don't mind. what did you lose it on penny stocks?![[Good Luck]](graemlins/goodluck.gif)
![[Roll Eyes]](rolleyes.gif)
![[Were Down]](graemlins/weredown.gif)
