posted
Greetings. This is my first post here. Look forward to conversing with you all.
As any newcomer should, I present to you what I'm buying right now and why, and what it has done for me lately.
PCRG - ProCore Group.
ended today at .11
In the mid December the stock jumped from .01 to .20. Profit taking then set in, and the stock has dropped back down. There seems to be support at around .10 where it gets purchased each time it hits this level. Check out the chart.
Volume has increased, and in fact 500,000+ shares were traded today.
Procore has formed a partnership with a marketing group and Loan Giant Mortgage company in Detroit to originate, fund, package and then sell mortgage loans. http://www.prweb.com/releases/2004/9/prweb155413.htm
The company is involved in many diverse businesses, and news is being made weekly, even daily. But, I believe the mortgage loan business will be the core of this company, and the Good Faith Financial home loan brand is the key reason to invest. Along with Good Faith Financial, Procore owns companies in telecommunications, gaming, and international finance.
This was formerly a relatively inactive public company, and the stock price had fallen over a long period of time, but recent changes to the board of directors seem promising to me. http://www.prweb.com/releases/2004/9/prweb161091.htm
I've done very well with this stock the last 2 months, and offer this to you all to do the same.
posted
I have to do more research but right off I'd be carefull with a company that has mortgage lending as their primary income. In my opinon, which is not worth much, interest rates are on the way back up and real estate is slowing down. This is just my opinon good luck.
-------------------- grasshopper Posts: 268 | From: LA | Registered: Dec 2004
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posted
wow! that's a misunderstanding if I ever heard one. Here's why;
subprime lending thrives not only when things are good, but also bad. when the economy is bad, people need higher debt ratio's to qualify, and credit scores tend to drop. sub prime is a never ending demand market.
also, why are rates going up again? I've been hearing that for 5 years.
But I appreciate your skepticism. On the other hand, I heard the same thing a month ago when I bought in at 1 cent. Now I've made 12x my investment.
Posts: 34 | From: Midwest | Registered: Jan 2005
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posted
I'm not an expert in the subject. I was just stating my opinon (wrong or right). Congrats on the 12x, Why didn't you let me know back when it was a cent? -lol- Like I said I will do more research in between football tomarrow...unless they are good games..
-------------------- grasshopper Posts: 268 | From: LA | Registered: Dec 2004
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This is the stock that got me into the penny stock business, so I wasn't around then. I'm letting you know now though! There are a lot of people that expect this stock to be at $5.00 by end of year.
Posts: 34 | From: Midwest | Registered: Jan 2005
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posted
Looks good, but here's my issue... as with most penny stocks, since they have no cash, how do you think they are going to make all these acquisitions? Stock, stock, and more stock which equals dilution, reverse splits, and more nonsense.
Good luck though, I could be wrong.
Posts: 70 | Registered: Dec 2003
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posted
RedBullish, if you don't like penny stocks, ok... but your concerns are never elleviated with pennystocks. If you like bluechips that move 2% in one direction or the other year over year.... (nothing wrong with that if you are looking for 3.5% dividend yield) ok. But if you like penny stocks, get used to these risks.
Posts: 34 | From: Midwest | Registered: Jan 2005
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quote:Originally posted by ARI: I'm not an expert in the subject. I was just stating my opinon (wrong or right). Congrats on the 12x, Why didn't you let me know back when it was a cent? -lol- Like I said I will do more research in between football tomarrow...unless they are good games..
there was a nice mid-day entry point today around 10:30a. not sure if you did any research or how you decided. I'll keep posting as news comes out. I expect this to really pop when the revenue they are now collecting hits the books at the next reporting cycle.
Posts: 34 | From: Midwest | Registered: Jan 2005
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