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  1. Los Tiburones is offline
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    07-19-2009, 01:11 PM #551
    Quote Originally Posted by ShotsII View Post
    Hi guys,
    It makes me sad to write this post, but I feel I need to address an issue that we have to begin considering with MGLG...

    What if it is just a pump and dump?

    I know everything points towards this being a viable company with a real and valuable product. But the fact is that we are getting no numbers and not even any updates from the company.
    Reading Google, Yahoo, even the spoke, lots of posters are claiming it is a PnD.
    What does everyone here think?
    I know you all want to just say straight away that it isnt. But please take a few minutes to consider it and give yourself a real assessment.

    I am NOT saying in this post that MGLG is a pump and dump. I am simple saying it is something to start giving consideration to.

    Sean, do not get scared and sell off your shares simply bc I wrote a negative post. Trading on emotion is a sure way to lose money.

    Hi shot's, have to admit I do share some of this sentiment, that is cautiously ... it still seems a bit early though to draw too much of a conclusion though. I think the prior PR was a mistake that was regretted in giving too fast a time line for something that is in someone else's control (namely, Citizen) ... It really hasn't been that long since the mention, another couple of weeks seems warranted at the least ... end of the month\first part of Aug.

    But with all that ... could we be part of a great ... scam? Absolutely. Just trying to be unbiased and unattached ... just as ready to bail as to hang on. Monitoring it daily (OK, I lied, hourly ... sometimes every free chance I get, just like that other silly stock that never moves ....)

    Moving on ... Friday I threw this bit out there;

    Anyone watching CIT today?

    Like a rubber ball ... Shoulda woulda coulda - Thought about it earlier when it was around .50 ... checked back later and it was .90 .. Like a game of chicken right now ...

    Not for the faint hearted


    Speaking of chicken ... I was ready to buy it right there @ .50-ish Friday but didn't have the guts. None of it is based on any reality other than the sheer goofiness of the Market "Mind" that seems to love to drive things up when they belong in a toilet bowl ... A true gamblers pick and only for a quick in and out. I am thinking of playing it Monday if it preforms somewhere close to Friday ...

    Am I insane? Anyone want to talk me down off the cliff ... ?

  2. bassmaster is offline
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    07-19-2009, 01:21 PM #552
    shark, i was following it friday. they have been in discussions with GS and JPM for private financing. if CIT does get the deal done , expect heavy dillution ( i guess better than being killed off). i think at .90 its fairly priced with dillution(deal prolly baked in). if they announce the deal expect a small jump in price then when the deal is deciphered by the street expect a pullback. if no deal is made , expect BK and a huge drop off. what is your target sell if you buy at .90 and a deal is made? what if no deal is made how much can you lose? is the risk/reward ratio wide enough for you to make the trade?

  3. Sean is offline
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    07-19-2009, 01:59 PM #553
    is anyone else going to buy SARO on monday? if so whats your plan for entry and exit

  4. billhart22 is offline
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    07-19-2009, 02:03 PM #554
    Quote Originally Posted by Los Tiburones View Post
    Hi shot's, have to admit I do share some of this sentiment, that is cautiously ... it still seems a bit early though to draw too much of a conclusion though. I think the prior PR was a mistake that was regretted in giving too fast a time line for something that is in someone else's control (namely, Citizen) ... It really hasn't been that long since the mention, another couple of weeks seems warranted at the least ... end of the month\first part of Aug.

    But with all that ... could we be part of a great ... scam? Absolutely. Just trying to be unbiased and unattached ... just as ready to bail as to hang on. Monitoring it daily (OK, I lied, hourly ... sometimes every free chance I get, just like that other silly stock that never moves ....)
    I think a lot of it is like Tib said....time line. None of we know of course what the truth is, but I am not ready to start calling it a "scam".

    MGLG has always been bashed as a P&D, even before it went up two times all ready. I have read about it for a long long time.

    Now that BCLE is starting to get a little attention, I see that we all ready have a basher in there on the wheel.

    It is always nice to know more about a company that you have money in, but there are tons of reasons for not just satisfying people in the forums. Different companies have different philosophies.

    What is the truth with any company? Unless you work for the BOD you will never know the truth.

    I know one thing for sure...MGLG has wells and they are producing..how much? I don't have a clue. They have 11 more leases to go and two shale projects. That has been established.

    I don't know what is real and what isn't with a ton of these companies, whether they are on the NYSE, NASDAQ, OTC, Pinks, or BB's.

    Shots brought up MGLG and I went for it. I could have made a lot of money if I would have cashed, so it was a great call. Now, what is it going to do? Only time will tell.

    I will tell you one thing and that is every time that I sell a stock when I get frustrated with the time involved, it goes up big after I sell it. That is just my Karma, though.

    Take a coin and flip it. Companies just don't provide enough Public Relations for their own good.
    Last edited by billhart22; 07-19-2009 at 04:43 PM.

  5. bassmaster is offline
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    07-19-2009, 04:10 PM #555
    dr. dave whats your translation of RTGV's candles the past 2 days following the small run?

  6. Los Tiburones is offline
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    07-19-2009, 04:21 PM #556
    Quote Originally Posted by bassmaster View Post
    shark, i was following it friday. they have been in discussions with GS and JPM for private financing. if CIT does get the deal done , expect heavy dillution ( i guess better than being killed off). i think at .90 its fairly priced with dillution(deal prolly baked in). if they announce the deal expect a small jump in price then when the deal is deciphered by the street expect a pullback. if no deal is made , expect BK and a huge drop off. what is your target sell if you buy at .90 and a deal is made? what if no deal is made how much can you lose? is the risk/reward ratio wide enough for you to make the trade?
    Hi Bass,

    Was thinking a little differently here ... It closed @ .70 Friday, dipping to .68 AH. Part of my thinking is just recent history, very recent. For instance what took place with GM. Right around the time and even into the bankruptcy the stock was behaving erratically, making wide swings up even when it was basically 'worthless'. So that is one factor .. call it playing the volatility. I am thinking IF it drops fairly significantly out of the gate, say 40 ish or .50 something that I might take a shot at it, not a lot, maybe a couple hundred and then just monitor it, maybe set a stop ... It would really all be based on the rumor\news criteria. Still, I am not convinced I will really do anything at all .. I chickened out Friday, - Monday might still show my true feathers still

  7. bassmaster is offline
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    07-19-2009, 04:21 PM #557
    anybody want to see pump and dumps first hand, put on cnbc or foxbusiness or msnbc or read the wall street journal or business week or go to sites like thestreet.com and motleyfool. the only difference is they deal in a higher stakes stocks.


    my goal in pinks is to get in before the pump and sell on the rally. and occasionally find the gem and blue sky breakout. ty and gl.

    and for my disclosure, i post BEFORE i make a trade my intent. so as to not ever be labeled a pumper or basher. i will let others do that work for me (not saying anyone on this site, but on all the other pink forums i lurk).
    Last edited by bassmaster; 07-19-2009 at 04:27 PM.

  8. Los Tiburones is offline
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    07-19-2009, 04:35 PM #558
    Quote Originally Posted by billhart22 View Post
    I think a lot of it is like Tib said....time line. None of we know of course what the truth is, but I am not ready to start calling it a "scam".

    MGLG has always been bashed as a P&D, even before it went up two times all ready. I have read about it for a long long time.

    Now that BCLE is starting to get a little attention, I see that we all ready have a basher in there on the wheel.

    It is always nice to know more about a company that you have money in, but there are tons of reasons for not just satisfying people in the forums. Different companies have different philosophies.

    What is the truth with any company? Unless you work for the BOD you will never know the truth.

    I know one thing for sure...MGLG has wells and they are producing..how much? I don't have a clue. They have 11 more leases to go and two shale projects. That has been established.

    I don't know what is real and what isn't with a ton of these companies, whether they are on the NYSE, NASDAQ, OTC, Pinks, or BB's.

    Shots brought up MGLG and I went for it. I could have made a lot of money if I would have cashed, so it was a great call. Now, what is it going to do? Only time will tell.

    I will tell you one thing and that is every time that I sell a stock when I get frustrated with the time involved, it goes up big after I sell it.

    Take a coin and flip it. Companies just don't provide enough Public Relations for their own good.
    Hi Bill,

    Poor choice of words there on my part ... Maybe 'gamed' would have been better than 'scammed'. Still it doesn't convey my slight apprehension playing with these pennies. I still don't know enough about how this 'all usually works' as others would who have been more seasoned with the pennies ... I guess it is that feeling that will keep me apprehensive and on guard more than what is constituted as more "established" companies. I am still a bit concerned about the number of shares outstanding and just how far that would transfer into SP on the upside - In other words how far could it possibly go with this current situation? Even 10 cents seems out of the question as a real reach ... I mean wouldn't this create quite a few instant millionaires? Shoot even half that for the number of shares that are out there .. I'm rambling ...

    Having said that I also know of a certain company that recently had it's shares moved into the OTC realm due to a merger\acquisition and they are established. It's a bit complicated and too much to go into, but it basically boils down to some foreign transactions that forced it there, not anything to do with 'worth', policy, management or anything that could be construed as punishment or poor performance. It just so happens to be where I work.

  9. bassmaster is offline
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    07-19-2009, 04:43 PM #559
    sorry shark, i thought it closed at .90.....

    .70 seems like a decent buy knowing there is resistance at .90 for a 30% gain. could go higher on an official deal announcement. just keep your eyes on the news. i had the market depth open on CIT and when cnbc announced a deal was possible it was literally a few minutes into a rally (no inside information on that one LMFAO). so once any info is released you may want to get ready to pull a trigger (whether to buy or sell).

    the stock is definitely moving and eager for some official announcement.

    just remember where it was trading at immediately before the bad news and consider that a ceiling.



    whatever you decide to do, GL.

  10. billhart22 is offline
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    07-19-2009, 05:04 PM #560
    Quote Originally Posted by Los Tiburones View Post
    Hi Bill,

    Poor choice of words there on my part ... Maybe 'gamed' would have been better than 'scammed'. Still it doesn't convey my slight apprehension playing with these pennies. I still don't know enough about how this 'all usually works' as others would who have been more seasoned with the pennies ... I guess it is that feeling that will keep me apprehensive and on guard more than what is constituted as more "established" companies. I am still a bit concerned about the number of shares outstanding and just how far that would transfer into SP on the upside - In other words how far could it possibly go with this current situation? Even 10 cents seems out of the question as a real reach ... I mean wouldn't this create quite a few instant millionaires? Shoot even half that for the number of shares that are out there .. I'm rambling ...

    Having said that I also know of a certain company that recently had it's shares moved into the OTC realm due to a merger\acquisition and they are established. It's a bit complicated and too much to go into, but it basically boils down to some foreign transactions that forced it there, not anything to do with 'worth', policy, management or anything that could be construed as punishment or poor performance. It just so happens to be where I work.
    Hey buddy,

    You should be apprehensive about playing penny stocks. That is why they are in the pennies. There is a high degree of risk and a high degree of leverage. They are very hard to get used to until you lose your mind, lol.

    I am sure (in my mind only), that MGLG will go back up, but without information....who knows?

    I used to strictly just buy and sell NYSE and NASDAQ and made out just fine. I also sold some too soon and broke even on a lot of them.

    Stocks are stocks and they are all dangerous. It is a wicked game.

    With pennies and sub-pennies it takes quite an adjustment. I remember when Ray, Tony and I jumped into this thing. It was unnerving and it seemed like everything was going 1000 miles an hour. Well, the first thing we did is get in on some stock that sucked so bad that that it took us quite a while to get out of it. I can't remember the ticker for it anymore, lol.

    I had another one, VIAP. It was a definite P&D and I got in at the completely wrong time...on the dump side. It was doing tons of shares, but was on the way down. All kinds of volume and then after a while, it was doing 5 trades a day. It was like being in a vacuum. So I have lived and learned by taking some scrapes and bruises in the school of hard knocks.

    As far as the high amount of shares with MGLG, well, it is very capable of doing 2 billion a day in trading as has been seen before when there wasn't any gas flowing or more leases.

    So what does a guy do? Back to flipping the coin and going for it or bailing when it hits some profit. 10 cents? Not for a long time, if ever...maybe.

    There is one guy in there that makes 300K every one ten thousandth of a penny. I forget his name. How would you like to watch his account? I would have to have a bottle of downers on hand.

    I used to get really wound up when a stock price went down. Over time I have become more numb, but not insensitive.

    I don't have any answers. If you have a plan or anyone else, please share it.