I've only been on here for about a month or so now and have learned more than I could have possibly imagined in that time... unfortunately... mostly through getting burned... but I'm starting to learn who can be trusted here and who can't.
One mistake that I made was just jumping right in! I.E. GRYF! So, I'd suggest doing the following... read the boards daily... pick some stocks from here that sound good then pretend to buy them... record your pretend purchses and sales for a month or so and see how they would have done if they had been real.
Pens, this may sound stupid... but a pretty good book for learning the basics of reading stock charts is Technical Analysis for Dummies.
IP: Logged |
quote:Originally posted by pensandoenti67: Can someone please explain how to read the RSI?
How important is it on a upclimb or decline of the price?
Thanks
Basically, (and I'm no expert so hopeably a better TA person will post, too) a high RSI indicates the state of being "over-bought," and a low RSI that of being "over-sold." The 50-level is considered "median"; 80 climbing to 100 is "high," and TA folks are looking for an exit.
What you're "looking for" is RSI climbing, starting below but headed toward and through 50...
Importance? depends on the other indicators. For example, say there's low float and people keep buying: pps keeps going up--a "runner" doesn't know it's being charted. Make sense? On the other hand, if a significant number of buyers are TA folk, they'll start selling...
The indicators I use are: SMA3, Bollinger Bands, RSI, MACD and moneyflow, the latter sometimes supplemented with volume or momemtum or Williams%.
The ideal is tight bollies, rising RSI, MACD heading toward or just crossing convergence line and uptrend in moneyflow. I use it as much--or more--to avoid a play as I do to jump in...
All that being said, there's much better chart readers here than I--maybe they'll post, too.
posted
Hello all, Another newbe here. What do you all think of using Candlesticks for in/out signals? From what I can tell, maybe not so good for getting in, but possibly some indication when to dump. Thanks for all the good info so far.
JW
-------------------- "Keep your stick on the ice, we're all in this togeather!"
IP: Logged |
posted
awesome thread i will agree about losing alot of money by not knowing the specifics and following group plays i have since pulled back to observe and learn more before i lose the skidmarks off my missing underwear lol. I do agree i think buytex and rick have alot integrity and also add inputs for the new people that have no idea about when to get in and get out. I have to agree with getting out with a small profit and getting out with a small lost i first got into nwpo at 1.51 it dropped to .93 went back to 1.40 and i still kept it from reading information and hoping about a good pr. I think you have to set a margin and get in and get out and dont get caught in a stock to long.
-------------------- Go for the Gold, those that don't risk anything gain nothing
IP: Logged |
posted
Can someone explain, monthly share market by the Stock Brokers: Can someone look at this one, when one one of the MM's increase their total share from 368,000 in June to having over 14Million in July is that a good sign? Is that an indication interest is expected so the MM's buy them from the Company?
Sample: Please study and anaylyze for thos of us that are still learning:
first number is July 2005 purchase, second number June 2005 numbers and total number
As you can see all the major MM's bought lots of shares in July:
posted
glass? keith? machiavelli? ric? Good Question Here
quote:Originally posted by pensandoenti67: Can someone explain, monthly share market by the Stock Brokers: Can someone look at this one, when one one of the MM's increase their total share from 368,000 in June to having over 14Million in July is that a good sign? Is that an indication interest is expected so the MM's buy them from the Company?
Sample: Please study and anaylyze for thos of us that are still learning:
first number is July 2005 purchase, second number June 2005 numbers and total number
As you can see all the major MM's bought lots of shares in July:
posted
Excellent thread!!! I have learnd alot here and will learn much more. I don't know if I'm a newbie but still at least a newb. Newbies pay close attention to these big boys here. I'm still struggling with the get out part. Have learned some lessons waiting for it to rocket only to see it come crashing down twice as fast. Instead of taking 50% I then sell at loss. I am trying to read charts better but tend to follow this board and press releases the most. NO chart knows when a big PR is about to pop. SInce May I'm up about 15 to 20K and can say with all honesty it has ALL come from nothing but listening to the Stock Gods right here. Granted come next week I may be back to square one. I think in pinkyland, if you can ride 2 out of 5 stocks you are doing good cause no one is going to pick them all right. Anyway...my 2 cents and again Thanks to all here for taking me under your wing.
-------------------- It's only money..We'll make more tomorrow!
IP: Logged |
quote:Originally posted by BuyTex: glass? keith? machiavelli? ric? Good Question Here
quote:Originally posted by pensandoenti67: Can someone explain, monthly share market by the Stock Brokers: Can someone look at this one, when one one of the MM's increase their total share from 368,000 in June to having over 14Million in July is that a good sign? Is that an indication interest is expected so the MM's buy them from the Company?
Sample: Please study and anaylyze for thos of us that are still learning:
first number is July 2005 purchase, second number June 2005 numbers and total number
As you can see all the major MM's bought lots of shares in July:
Never go long on a penny....Day trade or swing trade, to me are the only way to play these pennies.
Something I have noticed....
most of the time, a penny run wont last more than 2 days....so if you get in on the second day of the run, you wiould probably will have to exit that day so that you keep your profits.... having said that do not get in at the top of a penny run from the previous day...
When a penny close strong, it will most likely Gap the next morning.... If you did not get in the day prior do not buy into the gap... wait 5-10 minutes to see if the run will continue or not.... most time it will gap and then is down from there....
IP: Logged |
posted
IF you do get caught buying a stock at the wrong time and it goes down quickly....too quick for you to get out when you want to..... just become a "bagholder"....and make sure you aren't playing with more than 25% of your portfolio so you still have other money to play with. The stock you got caught in usually bounces back 1-4 weeks and you will end up at b/e or even or make a profit on it I know its hard if you see a stock rocketing to not sell the one you're holding but you must have discipline. You're Saying "well the loss i am taking on one stock can be made up on this other one" If you take a 50% loss on 1, you the other stock has to go up at least 100% for you to just break even. That all for now. GLTA. Don't try to become a millionaire overnight!
-------------------- EVERY Day ABOVE GROUND is a GREAT DAY!!!
IP: Logged |
posted
It can be bad or good. There are so many reason this can happen. It could be dilution where the company is issuing new share. It could be from a run where the volume increased dramatically and the MM had to buy up shares in support. It could be as you stated a stock up on shares in anticipation of a major event. There just is too many reason to tell whats going on without having details on past events and future possible events.
-------------------- Invest with your brain not with your heart.
IP: Logged |
posted
Shhhh, don't tell the truth. How else can we make money without the bagholders and the ones that buy in to high. lol
You can tell them this but it seems the only way to learn it is to be burnt. Pennies run on hype but always drop afterwards. Those that continue to hold are just asking to lose your money. If you did buy high, don't hold the stock in hope that it will run again. Thats a bad investment choice. Sell for a lose and reinvest in something going up. If the stock you were in runs up and down, sell it and buy it back low. You will make more in the next run that way. But holding a dropping stock is just bad.
quote:Originally posted by Prdponce: All things remaining equal...
Never go long on a penny....Day trade or swing trade, to me are the only way to play these pennies.
Something I have noticed....
most of the time, a penny run wont last more than 2 days....so if you get in on the second day of the run, you wiould probably will have to exit that day so that you keep your profits.... having said that do not get in at the top of a penny run from the previous day...
When a penny close strong, it will most likely Gap the next morning.... If you did not get in the day prior do not buy into the gap... wait 5-10 minutes to see if the run will continue or not.... most time it will gap and then is down from there....
-------------------- Invest with your brain not with your heart.
IP: Logged |
posted
Ric, in response to your good post on the bashers thread: You mention dilution--On my bigger losers? That is one, singly insidious practice that has cost me personally more than anything else, "MM tricks," "bad TA," staying in a run too long, etc--all put together.
What suggestions/techniques do you have for folks to keep up with or recognize dilution on any given issue?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
It is hard sometimes to tell the difference between shorting and dilution. But basically if there is more buys then sells and the pps is not moving up or it's going down. But other things I check, if its reporting and some pinksheets report look at pinksheets.com . Don't just look under the SEC filings. On pinksheets there is a financial reports tab. Some company post there financial's there but not with the SEC. Look for any S-8's and also look for convertibles being issued or coming due. But the easiest way is call the TA.
But really if the company is gagging the TA it's for a reason. They are manipulating there stock some how and not for the your good. I know many of them that sell shares during a run and buy them back when it drops. Cough cough, qbid, did I say that out loud, lol. Its not adding shares in the end but it causes runs not to be able to hold its support. And since the TA is gagged, no one knows whats going on. Also the biggest dilution kings hide behind gagging the TA.
IMO, I think that any stock that gags the TA should be boycotted until they stop the practice. It would help a lot of investors make better choices. If you call a transfer agent and they say they can't give you the information. Then run fast. Also, laugh at any CEO to his face if he claims shorting while his TA is gagged.
-------------------- Invest with your brain not with your heart.
IP: Logged |
posted
When a company announces they are going to do an audit in order to go to the OTCBB, must they by SEC rules maintain minimum PR news, I mean completly silence? I understand no news about the audit it self. What are the rules on PR news?
I want all new members to understand and know the rules. The reason I mentioned it, it's because I almost got burnt and would have lost lots of money on it. I'm sure some veterans and wolves got rich on that stock, but to any new trader of pennies it was and could have been a massacre.
I am talking about WFTV now (WTVN), I read it here on allstocks everyone was talking about it, talking about the news due any day, I ask what news, several replied, the news about the Audit is due now.
The company had said on their PR release three months prior that minimum news were going to be released due to the Audit and do not expect news at all, that was odd, but on the thread most members acted and pumped it so much, I ask why the silence why is that required? No one ever answered my question. Needless to say that drop from .0017 when I bought to .0005, I was lucky to sell on it's last high at .0018. Now it has lost another 80% since it's name change.
The stock started at .005 when they announced they were going to OTCBB back in Feb 05, it now at probably (with the reverse split) at .00005
So be careful, I do not know the SEC rules but it didn't sound right.
A stock that comes to mind of doing the opposite is HISC!!!
IP: Logged |
posted
WFTV is the perfect example alone with MLON. But really another big scam this year was ICAN. I tried to warn people about it, after I made money of course, lol. They promised that they were going to roll the best parts of their business into a OTCBB and issue shares to the ICAN shareholders as dividends. After they massively diluted there shares in that run they announced they had to call the deal off. Hard for the SEC to prove anything without having internal notes on what happened. But what a scam. They pulled that one off perfectly. If it wasn't such a scumbag thing to do, I would have to tell them well done. Wish these people would get jail time.
-------------------- Invest with your brain not with your heart.
IP: Logged |
WFTV/WTVN, lol, i got in that about a month after I started. Talk about drinking the Kool-Aid--I got seconds, chewed up the cup, then swallowed that, too! What's really sick? Coulda doubled, but n-o-o-ooooo, I'm gonna grab the 60-bagger or whatever it was. Shoot, the chart *showed* it, right? ya...
Wheeeee, paid some dues on that one, for sure...
Ric, I thought about calling the TA--and I agree with you on the gag, I went through that with gvrp--but does the TA release the CEO/company shares in order to dilute? And thanks for all readers, those are solid suggestions about alternate sources. ********************
Pens, they were calling that a "news blackout," which to me now makes no sense, either. A "quiet period," yes--but that's just for IPOs, as far as I know. If I had it to do over again, I would severely question that "news blackout" deal...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
I tell you a good trick though. I mentioned it briefly above but I like it so much that I will say some more on it. I have made some serious money on Qbid so I don't talk about it much but a trick that they do is just sweet. I guess its better then a P&D were the company leaves the dump with the shareholders.
What make Q's dilution sweet is the hype he gets afterwards making him look like a great guy. Heres how it plays. The stock runs. Whether its a hype or what but it runs. They sell shares to the market (dilution) at the high of the run. Now the o/s is diluted at this point but no one knows it because the TA is gagged.
Well heres the sweet part. After the pps drops because it will after the dilution. The CEO announces a share buyback. He lets his shareholders know that he cares for them by doing a buyback. Of course in forgets to tell them that he just diluted those shares the last run. He buys them back at a bargain and in turn helps cause the next run. After that run he will sells (dilutes) more shares and starts all over again. No harm you think but the shareholders are thinking the O/S is shrinking but in fact it remains the same. But best of all the CEO gets praised for his buyback and it produces loyal shareholders. Now that a CEO that has a vision, like it or not. He made money by selling high and buying back low.
-------------------- Invest with your brain not with your heart.
IP: Logged |
posted
BuyTex, as far as the TA is concerned on releasing information it depends on the TA and the company policy. Some will give you great detail and some just O/S or anywhere in between. But any information is better then none. But most honest company's TA will tell you if there is insider trading going on. Just very few of them anymore, lol.
-------------------- Invest with your brain not with your heart.
IP: Logged |
posted
are you guys a group because i see alot of your post have the same names on them wouldnt that make you a group? iam not trying to get under your skin just a ? sorry if this is offensive
IP: Logged |
posted
Iam not in any stocks now i dont like to hold over night iam a day trader see just a question how can you say dont play in groups this whole site is a group
IP: Logged |
posted
just trying to prove a point call it what you want but if we all play the same stocks it makes us a group and if a group hits a stock with there hard earned cash it will move up
IP: Logged |
posted
but we on this thread don't all play the same stocks--there's overlap, for sure--I remember being in a couple with Pens, but just for example, I can't remember offhand any play that ric and I have been in on at the same time...he might remember different, mo, but I think you'd be hard-pressed to find even one stock that everybody on this thread has played together.
The only thing thread has in common is folks responding to requests for information. Surely you don't object to traders helping educate each other?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
IP: Logged |
posted
There is a difference. Yes a lot of us play the same stocks but we usually play them because we see bottom or there is news releases.
I group play is a little different in the fact that the ring leader and a few of his close friends tend to frontload the stock. This causes the stock to rise or gap the next morning before they announce there pick. They tend to dump early causing the stock to tumble in price and the followers are left holding the bag while the group leader makes the cash.
Of course there is always exceptions to the rules and a group play may make a lot of people money but someone is the last one to buy high and gets burned but that happens in all runs.
The groups that are warned about are the ones that claim they make there followers money when in fact they were the only ones that did.
But yes, we are a group here. It just we don't tell people when to buy and sell. You make up your own minds here. And we do a group pick every now and again but no leader and no frontloading. Everyone has an equal chance of making or losing money or not playing.
-------------------- Invest with your brain not with your heart.
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
