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  1. Los Tiburones is offline
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    07-19-2009, 05:12 PM #561
    Quote Originally Posted by bassmaster View Post
    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.
    Thanks Bass,

    There was one point Friday where it swung .10 in a split second, right before my eyes ... It was really moving, hadn't seen anything like that in quite some time, at least at that low level of a SP. There is one other thing that has me ... checking myself. This fine line between what this all constitutes and I am thinking out loud here. At one time I got caught up in gambling in a pretty bad way, the wrong way. Sports betting primarily. Like the TA done on stocks I had to do it more the old fashioned way since computers weren't quite at the point there are now ... but I would read out of state newspapers, everything I could get my hands on to do due diligence and give myself an edge. How did I fair? Well ... for the most part, I got creamed anyway! But I had a nice long winning streak over the course of a week and a half one time - Think I won 12 games in a row, En Faugo! (SP?) they were calling me, all NBA games where I beat the spread and at the time I was putting down 200 - 500 per game. So with that rush and bravado behind me, I set off to Reno where I did the same thing 'officially' and got wiped out, lost every game ... poof! Just like that ... back to square one.

    I think I am putting this out there just to hear myself think ... that instinct is nowhere near what it was then. At that time I was a fairly recent bachelor after having split up from a long term relationship that was like a marriage in every way and was blowing off some steam - a real stupid time, I could have saved a boatload of money since I was living in the job trailer on a construction site where I worked. Have more responsibilities now and a completely different outlook on things, but maybe I am just hedging, or trying to convince myself that I am not truly 'gambling' ...

  2. ray is offline
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    07-19-2009, 05:36 PM #562
    Hey Bill..good sunday

    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.

    Buddy I never sold those penny stocks,hanging in there on them has made some good cash...but we did ok day trading on gmail chat ,it gets to crazy,hard to move money around so quickly and chat at the same time,but very fun,I have never had such a gut busting laugh...but the charts are a great tool if you are entering and exiting a stock, I do like scottrades charts to the second to get my blood moving ...well back to pre monday DD..

  3. Los Tiburones is offline
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    07-19-2009, 05:38 PM #563
    Quote Originally Posted by billhart22 View Post
    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.
    Hey Bill,

    As always, good stuff ... This,

    "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."

    Man you got that right ... not a chance, I would have an ulcer. Would hope that this is still that kind of money one could afford to loose for his sake .. it is just unfathomable to my mind ... But I agree on the numbness, with MGLG I got in a bit too high, so it has been underwater basically from the get go - Adding in has lowered the avg. down to .0012 so I am not all that concerned, still have SIRI @ .28 avg. so I am still up overall.

    You guy's have certainly taken some lumps for us all who may have been lurking about before joining in ... I don't know how to quantify that other than the appreciation that this community has given, it really goes beyond just sharing information ...

    What would be interesting to me would be to find some good reads on some veterans of the pennies ... historically - For instance, the success stories of those that rose back out of the pennies after having been banished to them, back on to the big boards - Or those that started out here and made significant moves upward. Getting a 'feel' for all this I would imagine will take some time, but I agree it is quite a bit 'safer' in one sense right now and a different animal altogether with the state of the economy and everything.

    It's weird, since I have been paying attention to stocks in general for only about the last 4-5 years when I got some options and really more diligently just in the last two years ... Those days when things really were moving, even if they were down significantly, they always seemed to have that rubber band snap and would regain territory .. but, for crying out loud, at least they moved! Maybe I am just looking at the wrong stocks ...


    "
    Stocks are stocks and they are all dangerous. It is a wicked game."
    Which is why we love it!

  4. billhart22 is offline
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    07-19-2009, 05:55 PM #564
    Quote Originally Posted by ray View Post
    Hey Bill..good sunday

    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.

    Buddy I never sold those penny stocks,hanging in there on them has made some good cash...but we did ok day trading on gmail chat ,it gets to crazy,hard to move money around so quickly and chat at the same time,but very fun,I have never had such a gut busting laugh...but the charts are a great tool if you are entering and exiting a stock, I do like scottrades charts to the second to get my blood moving ...well back to pre monday DD..

    Trading on Gmail Talk was a great time...I just couldn't keep up and chat all of the time. I sure loved it though. I don't have that much money compared to a lot of other people, but I can imagine what a job that would be.

    I put the charts on second intervals also sometimes. It is majorly cool.

    You still have all of those pennies, eh? I didn't know that. It was Tony and I that sold some then. You have so damn many stocks that I can't keep up with them. I can imagine what you have to go through daily.

    Do you have any good ideas on new stocks for this week?
    Last edited by billhart22; 07-19-2009 at 06:18 PM. Reason: spastic fingers

  5. ShotsII is offline
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    07-19-2009, 05:55 PM #565
    Quote Originally Posted by Skivail View Post
    Shots-

    What do you think will happen to IFSL? I too have a shit load. The other site seems to think that it's going to take off this coming week. I am just starting to learn how to read charts, so any insight would be nice. If not, I will wait and watch and DREAM.
    Hi Ski,
    I'm still in it bc I still believe in it.
    There's been alot of trash talkers on Hub and on Yahoo and Google. But for the most part the other posters have been able to reply with factual data. That's a very positive sign for me. Opinion vs. fact is no contest in my mind.
    With that said, I REALLY hope they release those numbers this week, bc this stock will not stay up if they dont. I'm in at 17 and just dont want to lose on this one. I'd place a Stop, but dont trust the MMs to not drop it just to steal my shares.
    I think the company has a great product and very nice profit margin. With that being said, lets get a look at those numbers to see how big that profit margin really is...

  6. billhart22 is offline
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    07-19-2009, 05:59 PM #566
    I love the smell of cheap stocks in the morning.......it reminds me of Victory!

  7. bassmaster is offline
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    07-19-2009, 06:07 PM #567
    10K views !!!! congratz!
    this thread is hella popular. might need to change the domain name soon.lol
    Last edited by billhart22; 07-19-2009 at 06:47 PM.

  8. billhart22 is offline
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    07-19-2009, 06:16 PM #568
    Quote Originally Posted by Los Tiburones View Post
    Hey Bill,

    As always, good stuff ... This,

    "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."

    Man you got that right ... not a chance, I would have an ulcer. Would hope that this is still that kind of money one could afford to loose for his sake .. it is just unfathomable to my mind ... But I agree on the numbness, with MGLG I got in a bit too high, so it has been underwater basically from the get go - Adding in has lowered the avg. down to .0012 so I am not all that concerned, still have SIRI @ .28 avg. so I am still up overall.

    You guy's have certainly taken some lumps for us all who may have been lurking about before joining in ... I don't know how to quantify that other than the appreciation that this community has given, it really goes beyond just sharing information ...

    What would be interesting to me would be to find some good reads on some veterans of the pennies ... historically - For instance, the success stories of those that rose back out of the pennies after having been banished to them, back on to the big boards - Or those that started out here and made significant moves upward. Getting a 'feel' for all this I would imagine will take some time, but I agree it is quite a bit 'safer' in one sense right now and a different animal altogether with the state of the economy and everything.

    It's weird, since I have been paying attention to stocks in general for only about the last 4-5 years when I got some options and really more diligently just in the last two years ... Those days when things really were moving, even if they were down significantly, they always seemed to have that rubber band snap and would regain territory .. but, for crying out loud, at least they moved! Maybe I am just looking at the wrong stocks ...


    "

    Which is why we love it!
    Yes, nothing like a big rush in the morning!

  9. Los Tiburones is offline
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    07-19-2009, 06:19 PM #569
    Well, this certainly changes things with CIT -

    CIT Strikes Deal for $3 Billion Rescue to Avoid Bankruptcy

    http://www.cnbc.com/id/31997105

  10. billhart22 is offline
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    07-19-2009, 06:27 PM #570
    Quote Originally Posted by Los Tiburones View Post
    Well, this certainly changes things with CIT -

    CIT Strikes Deal for $3 Billion Rescue to Avoid Bankruptcy

    http://www.cnbc.com/id/31997105
    For our country that is a damn good thing. 99% of small and medium size businesses are reliant upon CIT for working capital. If they went bust, then the cascading and domino effect would wipe this nation out.

    Everybody else was too big to fail....think about this...why did the Administration refuse to offer up some of that stimulus package to them, when only 10% of it has been spent and they are all ready considering a second stimulus package.

    I am glad that the bondholders are putting up the rescue money for them instead of Government intervention....if any.

    As far as the stock price, I haven't looked at it for a couple of days and don't have a clue where it is currently at, but I thought that I would comment on the possibility of BK and the ramifications.
    Last edited by billhart22; 07-19-2009 at 06:42 PM.