Market Watch for week of July 13, 2009

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Originally Posted by bassmaster

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.

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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' ... :D

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..

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Originally Posted by billhart22

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.

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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 ... :confused: :rolleyes:


"

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

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Which is why we love it!

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Originally Posted by ray

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..

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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?

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Originally Posted by Skivail

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.

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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...

I love the smell of cheap stocks in the morning.......it reminds me of Victory!

10K views !!!! congratz!
this thread is hella popular. might need to change the domain name soon.lol

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Originally Posted by Los Tiburones

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 ... :confused: :rolleyes:


"

Which is why we love it!

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Yes, nothing like a big rush in the morning! :cool:

Well, this certainly changes things with CIT -

CIT Strikes Deal for $3 Billion Rescue to Avoid Bankruptcy

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

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Originally Posted by Los Tiburones

Well, this certainly changes things with CIT -

CIT Strikes Deal for $3 Billion Rescue to Avoid Bankruptcy

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

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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.

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Originally Posted by bassmaster

10K views !!!! congratz!
this thread is hella popular. might need to change the domain name soon.lol

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Thanks to the great crew here!

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Originally Posted by billhart22

I love the smell of cheap stocks in the morning.......it reminds me of Victory!

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Or napalm lol ...you and gen wes moreland

Bill,I am having a hard time keeping up myself..lol

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Originally Posted by ray

Or napalm lol ...you and gen wes moreland

Bill,I am having a hard time keeping up myself..lol

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Actually I do like the smell of napalm. It sure sucks the oxygen out of the air though. I haven't thought of the name General Westmoreland in years...

I know that you are having a hard time....I can imagine that it is overbearing at times. You ought to just buy one of these companies, then we could buy stock in it. ;)

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Originally Posted by bassmaster

10K views !!!! congratz!
this thread is hella popular. might need to change the domain name soon.lol

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Here's the stats versus the SIRI intraday thread for last week....

Views for this thread:
10134

SIRI intraday threads Mon-Fri views:
9112

To be fair, we need to normalize, so
9112 * 7 / 5 = 12756.8

We're pretty close to being ahead. Crazy huh?

I also calculated the views/reply ratios - here's the normalized results...

us: 17.7
them: 29.1

So, it looks like they are ahead, but they have more posters. Perhaps we have a higher lurker ratio.

Or... more simply, we are more crazy.

(Bass - I'll post some charts on RTGV in a bit)

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Originally Posted by ray

Or napalm lol ...you and gen wes moreland

Bill,I am having a hard time keeping up myself..lol

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Hey BIll just watched a smart pipe video are you buying a new guitar yet....
It smells like money...lol...good call...

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Originally Posted by ray

Hey BIll just watched a smart pipe video are you buying a new guitar yet....
It smells like money...lol...good call...

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Thanks..I agree. It reeks of money. What a product.

Ray, God knows that you have a great sense for money.

New guitar? I always have room for a new guitar :) The wife just rolls her eyes every time I buy a new one. Let's see...I doubt if I will ever be on stage at my age, but I can fantasize.

That http://www.smart-pipe.com really shows a fine product. I can see real dollars in that, whether the economy is bad or good.

All brought to everybody in conjunction with BCLE.

If anybody hasn't taken a look at it...please do and leave opinions. :)

O.K., gang, I have locked up this thread and the new week for the 20th is posted.

Wow, we had a great week! :)