posted
I am not sure Joe, but the private placements thing is what concerned me.. well, can it be possible that institutions sell off $5 shares at $6 range for quick 15%? generally they wont.. but oh well. in OTC land.. they might.. very unfortunate.. meanwhile Joe, keep cpne under your radar, wait for it to drop for couple days more and get in if possible. easy 20% out there IMO..
-------------------- All my posts are based on my own opinions and not to be taken as buy/sell recommendations.
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quote:Originally posted by Jo4321: I thought about doing the same, Ruskin, but I did not. I have about 1/2 that I got in the 2.17 range, so that's still green, but I bought additional shares in the mid-five dollar range and the mid six-dollar range. So I decided to just ride it out.
I find it hard to believe that this would be the private placement shares being sold off. That wouldn't have been a very big gain.
My phoenix plan is doing worse each day. I haven't been able to take small profits in any of my holdings since last week, when I sold EPEA and made just $50.00! I haven't even checked my spreadsheet today to update my numbers cause I have a feeling with the FRPT decline I am probably right back where I started at the beginning of this thread.
Why oh why couldn't I JUST once stumble into a stock that has one of those crazy runs instead of immediately going down when I buy?
How are you doing 32Counter?
Jo
ahhh Jo.. never mind you know what I'm going to say lol as for FRPT ... whoever is losing on this one bought it on a pump/dump... they pumped it and you bought it and when it reached it's 52 week high of 7.05 you still held on to it even though it's on a obvious downtrend... remember the Trend is your Friend.. Don't go against the Trend... Below are two books that in my opinion will enlighten this boards eyes who have not read them yet... They both will give you a whole new look on the Stock Market and hopefully you will change your trading style for the better because of them... don't be stubborn and read one or both... especially the first one...
How I Made $2,000,000 in the Stock Market by Nicolas Darvas (a total classic... it's basically a education of a stock trader who was a total beginner from losing trades and what he learned from them to come up with a successful trading method that any of us can use; I'm currently rereading it because I learn something new when I do, things i forget or didn't think were important the first time around when I read it)
Trend Following by Michal Covel www.trendfollowing.com (can be bought used on amazon.com and other sites)
P.S.!!!! Don't be stubborn and CUT YOUR LOSSES. Admit you were wrong on the trade(s) and move on to another stock(s). The Market is always right not us contrary to belief.
Below is one more recommendation to this cutting losses and other trading philosophies that can help you but read the two books above first:
Reminisces of a Stock Operator by Edwin Lefevre (A book about Jesse Livermore's trading methods and Philosophies on trading. If you do not know who Jesse Livermore is you seriously need to read this book and cannot call yourself a trader if you do not)
-------------------- Let the world change you... And you can change the world.
posted
Jo, FRPT Free fall continues.. I sold out of my entire position today. you might want to call it panic selling.. but yes i panicked and sold. this whole private [placement thing.. glad i made some good money with that stock.. but am out for now!
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posted
at least your listening Swing 101 ... some people just dont listen about cutting losses.... though I have to admit Support seems to be around 5.50 and could be a trend reversal now but like i said the trend is clearly a downtrend.... don't go against the trend...
-------------------- Let the world change you... And you can change the world.
posted
Machav, Thanks for the info on the books. I will be looking to read them.
Jo, I am not exactly rising from the ashes either. Started with 8600 and just dipped below 7000 on Thursday. Everything is red except NLST which seems to slowly tick up even without a named storm. I am hoping that ecci will shoot back as well as Bugs which I purchased with news which are both hurricane sensitive. Once again I could have taken a 15 % profit on both and got greedy.
Good luck to you and great thread. This is a lot of fun. I suppose it would be even more fun when I start taking profits and cutting losses.
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posted
I admit, I was tempted to sell my FRPT, however, some if it I've been in since $2.17 and it seems that most of its dips end up coming back up. Today with news of a British Cougar order, it is back up over $6.00. Still not great, since it WAS up over $7.00 but not as scary as when it was in the low 5's. I will probably take some profits on FRPT today anyhow, cause I'm going on vacation and I don't like having such a big percentage of my holdings in that one stock.
32, I know what you mean about taking the 15% profit. With me, it seems everytime, I DO not take the 10-15% profit, I end up in the red. However, the opposite happens when I DO take the small profits. For example, I took a 25% profit on EPEA and made a lowly $50.00. I could have sold it today for 185% profit and a $650.00 gain.
The key is, I guess, to just take the small profits and never look back with the coulda, woulda, shoulda stuff.
Yes, it will be a lot more fun when we are in the green!
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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I sold off at $6.45 in my IRA. I'll look at getting back in lower after my vacation.
I've still got some in my regular account, but can't decide whether to sell or not. I was hoping to hold on for a year for long-term tax advantage, but I don't know if that is worth the emotional rollercoaster! LOL
posted
Hey jo, You back from vacation yet? Just curious to see how it has been going. I took a major hit on a 10q filing that dropped one of my stocks close to 50 percent in about 5 minutes last week. It has worked its way back up. Down just under 2 grand still. In for 8600, currently at a little over 6600. Funny thing is the two non penny stocks I was riding jdsu and dyn are both doing well. One of these days I am going to moderate the penny obsession. Hope things are going well for all you guys!
posted
Yep, back from vacation and things went from bad to worse. I sold off some more FRPT just before close the Friday I went on vacation. I made a mistake today and used some of my FRPT profits to buy ACTC today and promptly lost 20% of my money. Well, didn't lose it YET, cause I didn't sell, but I'm kind of worried about it now. Not looking too good.
What stock was it that you are talking about in your post? You are playing bigger amounts than me but the goal is the same! Let's get green.
I think my total portfolio is now down 9%. My saving grace is that my dh has been too busy at work to look at the accounts and see the mess I've made. Gonna have to change the password
Hope to have better news to report soon.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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Hang tough. Wish I was down only nine percent. The stock that dropped was formerly known as nlst and now nsmg. I am back in the green on that stock as of today. Three stocks went green today, nsmg, bkmp, and, bugs. I have hired a photographer to take a picture of the right side of my screen because that is the first green I have seen in a while. Up to 7229/8600 still down 16 %, but feeling better. I am no guy to take stock advice from but some of the hurricane stocks so far have moved fairly consistently with storm news. Good luck
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posted
LOL, I was in NLST once, but I actually got out too soon. I got in a .21 and out at .37. Still at least I made some money, which is becoming a rarer and rarer occasion. But when it went up last week, I was kicking myself. I seem to have that kind of timing in every stock I own. When I sell they go up, when I hold them they go down.
I really was hoping to be back even by the end of the summer, but school starts on Monday. New goal, end of the year.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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posted
Jo.....The reason it is rarer and rarer is because you are beating yourself up for not holding out long enough every time a stock out performs your expectations.
1 in 10 stocks will do that (if even that). The others you will hold beyond when you should and end up right back in the red again thereby having payoffs become rarer and rarer.
Stop trying to sell at the top. Mythical in perportions to be able to do that with any accuracy.
Find a stock prime for a bounce or run. Don't plan on holding beyond two weeks. Get a rise and then sell at the first sign of weakness unless you are really damn sure about your hunch that it ain't done yet.
Maybe you will sell for 15% on a momentary dip before a 300% run but that really doesn't matter. What does matter is that you end green and have an extra bit to invest in the next one thereby increasing what the next "extra bit" will be.
Don't try to be Superman....be happy if you can reach Clark Kent levels!!!
The Bigfoot
Alright....I should give you this though...
In my opinion the penny market has been really sucky for the last three weeks and it has been very difficult to make money. I will give you that. The former still applies though!
BF
-------------------- No longer eligible for government service due to lack of tax issues.
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posted
WOW! This is a great forum. I'm a newbie as well. I've done trading before but my loses were bigger than my gain which made me quit the game for awile. I'm back. I did get burned again - this time big, but I'm recovering and trying my best to protect my assets and increase my capital. I got too exited with ACTC (by now you've probably heard about it - it's all over the news) and put all of my money on it as many experienced traders did. My negative balance is over $3000 but I'm hoping to turn my portfolio around with the remaining $4700. Some of the "old" traders are supportive and give me good advice, but there are some that just can't resist to talk down on you. Is it really necessary? Lesson learned though. I'm trying to come up with a strategy, although as we all know, sometimes is difficult to predict the market. For instance ACTC had a great respond, great PR, coverege all over the news, which is unusual for a penny stock, great conference call today, yet the stock keep going down like crazy... Anyway, I'm hoping Monday to be a good day to recover some of my loses. Hope I'll find support here, and If I know something that might be in help to anyone, I will post it here I wish a great Monday to all.
-------------------- New to the game... but I'm a quick learner.
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posted
Tex, Are you gonna be up all night...lol I've got tons of silly questions - hope you don't get TOO annoyed by them Can I ask you something? You don't have to answer if you think it's a stupid question. How do you guys find the companies that may be worth something? Where do you look for those companies? Is there a website that has all the listings of penny stocks? I only know of the PinkSheets and the OTC Board. Again, if this is an overly dumb question just ignore it....lol
-------------------- New to the game... but I'm a quick learner.
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quote:Originally posted by neona: Tex, Are you gonna be up all night...lol I've got tons of silly questions - hope you don't get TOO annoyed by them Can I ask you something? You don't have to answer if you think it's a stupid question. How do you guys find the companies that may be worth something? Where do you look for those companies? Is there a website that has all the listings of penny stocks? I only know of the PinkSheets and the OTC Board. Again, if this is an overly dumb question just ignore it....lol
basically, given a new day, "we" (as a community) watch news/PR releases (before the bell), monitor watchlists from the day(s) before, check in with favorite chatrooms, monitor various threads/posters, rub rabbit feet together, burn candles, constant eye on streamers, monitor PRs coming out during the day; run scans, rub rabbit foot again; run charts, IM other traders, go outside and yell; run back, grab a sandwich from the hands of a child, throwing quarters over our shoulder back to said child; run more scans; check back with chatrooms; re-boot, check home message board, check other likely boards; rebuild streamer; cuss at monitors, throw rabbit feet out the window...immediately regret doing so.... think about retrieving rabbit feet from dog... blow that off.... Repeat all, with new wrinkles, as opportunity presents....
After hours? start scans for next day...and rebuild watchlists...
prety simple, really..
beats having a steady paycheck, lol
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Finding out which companies are legit and which are full of crap can be really hard down here. Basic rule of thumb of mine is to trade like they are all crooked and not to stay into a stock long enough to get messed with.
Read the 10Q's and try to see if anything seems wonky or doesn't make sense. If they don't actually have a product...be concerned. You want a smaller O/S for good movement but you also want a fluid stock.
BKMP is fluid but it has 13 billion shares outstanding. That's requires a hell of a lot of momo to get off the ground. (Can happen and just might next week)
Other stocks might have 10 Mil shares outstanding. Good for quick price flux but gonna screw ya if nobody's buying.
Other than that...look at the hype...look for red flags(You'll find em)...discount the hype and find your own stock that looks ready for a bounce or bull trend.
Good Luck and welcome.
Oh...by the way...I started out with a hell of a lot less than you ($1500). Protect you capital and expect little increments rather than homeruns and you will do fine.
-------------------- No longer eligible for government service due to lack of tax issues.
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posted
neona welcome to allstocks and welcome back to the "trading game"...I hope it will work well for you this time around...Lots of good people on here...and some grumpy ones...but that comes with any "work place"...most are more than happy to "help out"...but usually not until after the "trade day"...hope to see ya around...and good luck to you....
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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posted
Welcome to the best board in town.We work hard here everyday from 9:30 till 4:30.then we go to happy hour for our daily attitude adjustment.We sleep very poorly,and begin it all over the next day.We do get weekends off but most of us hate weekends as we can not buy or sell stocks that cause us to lose our money.Its a dirty business but someone has to do it.Like I said WELCOME
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posted
I gotta agree. I used to live for the weekends. Now they are just incomvient days when I have to do the laundry. But Fantasy Football is about to start up so I should have something to distract me at least.Oh...and the wife. (whoops! Glad she doesn't read these boards!!!)
BF
-------------------- No longer eligible for government service due to lack of tax issues.
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quote:Originally posted by neona: Lesson learned though. I'm trying to come up with a strategy, although as we all know, sometimes is difficult to predict the market.
Don't try to predict it... go with the trend... the Trend is your Friend as they say... and remember the Market is always right not you... I suggest you get out of pennies if your losses are more then your gains... trade big board stocks in Nasdaq, NYSE and AMEX .... rebuild your bankroll... and perhaps later on try pennies again but not your whole bankroll.. perhaps 1/4 of your bankroll instead... below are book suggestions:
A Beginner's Guide to Short-Term Trading by Toni Turner www.toniturner.com
The Candlestick Course by Steve Nison www.candlecharts.com (this book ties into the Toni Turner book)
How I Made $2,000,000 in the Stock Market by Nicolas Darvas (IMO his techno-fundamentalist box theory/technique still works)
Trend Following by Michael Covel www.trendfollowing.com (one of the biggest trend following Traders owns the Boston Red Sox baseball team so obviously he is making $$ to be able to buy such a team)
All these books can be found on amazon.com and other sites cheap if you buy them used... but check out the author's websites .. might interest you...
-------------------- Let the world change you... And you can change the world.
quote:Originally posted by plni: origanally posted by MACHAVELLi Money Never Sleeps Pal.
neither does the one who lost it.
That quote is from the movie Wall Street with Michael Douglas and Charlie Sheen ... if you haven't watched it.. Watch it!! a classic.. that and Boiler Room with Vin Diesel..
-------------------- Let the world change you... And you can change the world.
posted
Dont worry Bigfoot Its Sunday afternoon only a few hours till trade time.Please somebody help me I am so addicted to this.Its like setting a trap line when I was a kid,cant wait to check my traps tomorrow.
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And I thought that Civil Engineering is a dirty business... lol... Hope I could became so good at trading that I would quit my job and do trading for a living The work hours are awesome- 6:30am-1:00pm (Pacific Time)... I'll be done with trading till 1:00pm and have the rest of the day for myself (which would be spend in reserching companies)... It will make it possible for me to live anywhere in the World I want since the trading is done online... This is my dream. I hope it will come true.
-------------------- New to the game... but I'm a quick learner.
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