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On Monday, 5/01, I spent $1,200 and bought 3 million shares of JPHC at .0004. Now, it seems like it keeps going down. It's at .0003 now. Should I hold? or should I sell at a 25% loss? I am very new to all of this, & I need some good ADVICE!!! Posts: 54 | Registered: Apr 2006
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IMO they are just trying to cover their shorts. It'll have to go up before the merger in order to cover those last few shorted shares. If I were you I would hold out. Well, I am holding out...
Posts: 253 | Registered: Apr 2005
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I agree todays the MM were having a hard time getting sellers at the current price, tomorrow they should uptick. With any PR in the morning there may even be a run but I feel pretty good that they'll at least have to move up to 4-5 tomorrow to get sellers and 5-6 on Thursday. IMO
Posts: 1 | From: Southern CA | Registered: May 2006
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I sold at the ask awhile back, after originally getting out with a profit. Made up my loss I think within 2 days after selling (25% loss).
So, no profit from JPHC for me but I did get my cash back thanks to another play.
If your holding is a small portion of your account you may want to let it sit for kicks, if its a larger portion you may want to get out while you can. I will repeat I was able to sell at the ask, they may be trying to hide some of the dump that way, but this was awhile back already.
-------------------- Well done is better than well said. Ben Franklin Posts: 718 | From: Bay Area, CA | Registered: Aug 2005
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Thanks AgentGPF, Along with JPHC (-$300, 25% Loss), I have 3000 shares of TGEN which I bought at .60 because of the Stock-ster Pump&Dump. Now, TGEN is at .39 (-$630, 35% Loss). I have these two, plus $28.00 in cash; THAT IS ALL! Loosing $930 from a total of $3000 account, I feel like a BIG LOOSER. I am just holding till they go up. I don't know what else to do. If I sell these at a loss, I don't know how I could recover my loses. I am open to any good advice. Thanks! Posts: 54 | Registered: Apr 2006
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Hey sky Iam a newbie also and just went thru your situation.I took a loss on JPHC ,XLPI,sold them for a loss and now Iam down on RSHN.The good news for me is I bought into NDOL and it is making up for all my mistakes.You realy have to be careful and do your own DD.WE are gambling here and I have learned it is very risky.Depending on how much you would have left after dumping the losers you might be able to pick a gapper to recover your losses.There are some good ones out there right now.Hold and hope or sell and take a risk.Good Luck,hope you do better soon.
Posts: 127 | From: Ohio | Registered: Mar 2006
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Thanks 2fstws6, After doing some DD, by the time I try to get in, it's already too late(too high). My timing is off. I think I am too late for the oil plays now. I need some new strategy to pick a winner before it takes off. Anyone with a Winner strategy? Posts: 54 | Registered: Apr 2006
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Thanks kkt6zv, Does MICROCAPFEED work? & how? Is it worth spending all that money on it every month? Is there a Free site that I could do my DD? I first need to make some money, befor I spend it. Posts: 54 | Registered: Apr 2006
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Sky - I started a few months ago and learned one lesson that I will tell you that will save you tons of cash - NEVER, EVER, EVER chase a stock. Accept that you missed it and move on. Just let it go. It sux, but be happy for the people who are rolling in it. I chased one (USXP) and lost thousands. Newbie mistake, will NEVER happen again. I'm watching PGPM and happy for those who got in, but if I tried it, I'd lose my shirt.
Be careful, pennies are a gamble, but know the industries, look at a companies balance sheet, CHECK THEIR DEBT, the O/S, the management, their filings, the float, and most of all, ask yourself one important question - is what they're selling have a CHANCE of turning a profit?
Good luck.
Posts: 274 | From: Chicago, IL | Registered: Mar 2006
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quote:Originally posted by SkyistheLimit: If I sell these at a loss, I don't know how I could recover my loses. I am open to any good advice.
You may want to consider setting stop losses. Take profits when they are there, until you become extremely confident in a stock and know it like you know a relative.
-------------------- Well done is better than well said. Ben Franklin Posts: 718 | From: Bay Area, CA | Registered: Aug 2005
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Sky sorry to hear about the losses. I started back in 97 and turned 1400 to 600 real quick. The best advice I can give when dealing with pinks, is, it is not the company it's the investors. The money flocks to the PR's pure and simple. There are very few solid companies that trade in the pinks, but if you have patients and don't mind reading for hours a day here is what works for me. Always watch the bullentin boards, alot have people have already done alot of work, but most importantly you get to see what people are interested in. Right now it's oil, and it probably will be for quite some time. Ethanol and Gold are right there too.
Here is a strategy that works with oil. I look at every PR that every small oil company releases. With this info, normally you can figure a general time frame when the next PR comes out. Normally in the PR's you'll find financials which are very helpful in determining the health of the firm, then you normally see a PR stating so and so bought land that could contain so much oil, this almost always drives the price up, if you own the stock sell it, and don't be greedy a 30% gain is better than a 50%loss. Now you wait a month or two and buy the stock again really cheap because everyone left in search of the next home run. Alot of oil and mineral companies will then post their next PR which contains geologic results, this tells how much reserves and potential reserves they have. This gets the price going again, and you sell. Then wait and buy again because the next PR is usually drilling has started followed by so and so strikes oil, and here is where you make your money. The market has been tricky lately. I bought some FPPL and PGPM on monday because both were due for a PR and I wanted to catch some of the NDOL money coming back into the market after the buy out. When NDOL didn't release their PR on time people went running for the other oil companies a little early and I made a killing not as much as I could have, but remember PIGS AND HOGS GET SLAUGHTERED. The down side here is there are alot of newbies stranded in PGPM now and they may lose alot of money. Pinksheets normally DON'T stay high for long so get in cheap on something that people are talking about and DON'T wait for a 200% gain before you sell. Making 100 dollars feels so much better than losing 300. The advice given earlier about not chasing stock is GREAT and very important do not chase a stock on momentum if you are new, but don't confuse this with not buying at a good price. For example NDOL will go crazy and climb 20-30% in a day, this is momentum, normally it is better to get in the next day, don't buy on momentum. But NDOL will also stay steady and climb 1 or 2 % this is not momentum. So if you missed NDOL at .10 it was still a good buy at .40, and it is almost certainly still a good buy due to the buy out. NDOL had a pretty good surge today so it may be better to wait till tomorrow when the flippers start selling.
It took me along time to turn 600 into 6000, but since then the sailing has been pretty smooth. I truly wish you the best of luck because I can remember how it felt, back in 1997 $1400 was alot of money to me, and I damn near cryed. I'll leave you with this, oil is not finised, and when NDOL is bought there will be alot of money headed to some other small company. So keep your eyes open and be on the lookout for a REAL good company they come along from time to time as well.
-------------------- skids are for kids Posts: 206 | From: Germany | Registered: Apr 2006
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cwpc is a great oil play,only goes up,this is not a stock that you have to worry about chasing.i got in at $4 and thought i was chasing,now it is at $7.35.maybe you should buy $3000.of cwpc.and when you make %33 on your $,sell 1/3,then take that money and buy rshn,good price,and real product.
Posts: 109 | From: canada | Registered: Jan 2006
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Thanks to hawkdriver & everyone who responded to my queston. Also, thank you all for your words of encouragement. It is good to know that there are others like myself with the same difficult experence. Good Luck to All! Posts: 54 | Registered: Apr 2006
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