Printable View
yeah mglg had less then a billion shares traded today, wow, actually traded as many shares as behl, never thought id see that heh, maybe this is a good sign for mglg that you guys might be close to a bottom. i dunno but that stock scares me. im surde at some point it will move up but it trades so damn weird.
Evening guys...
Here's a riddle. I have some dry powder collecting dust after selling my SIRI position for a nice 33% gain in 6 weeks. Bought at .36 and sold today at .48.
I have positions in BCLE and MGLG talked about frequenstly in this forum as well as some bank stocks (duds) and a long postion in F (Ford..cuz I like cars made without Gov. involvement).
I am confident in the long positions in BCLE and MGLG but would like to find a stock to flip to grow my money exponentially while waiting for BCLE and MGLG to pop. Got any ideas?
It goes without saying that I'll make my own decision and won't say a word if your advice sends me to $0.00...lol.
My gut is telling me not to get back into SIRI right now although there is money to be made still with the old blue dog.
I'd appreciate any input and suggestions on stocks to study.
Thanks guys and I'll catch up with you later...
s.m.
Great Day for BEHL huh? Too bad I missed it - chalk one up for if you accidently buy a stock, keep it.
Here's an interesting site:
http://boardreader.com/s/BEHL.html
just change the ticker at the end of the url to look at how many posts the stock is getting.
BigSandy - I'd love to grow my money exponentially too!
I don't have any pics today - I'm not really a penny stock kind of guy, just playing some for fun.
On the 60 min, we have a bunch of stochastics in phase for a rebound on BCLE - and we are at a support level - but, I'm not expecting to see a real move in any direction until the audit is done.
I need to get some actual work done - so if you see me post more, tell me to get back to work.
Reading some other boards, it looks like everyone else is waiting for the numbers to come out - so its just trapped in a trading range - from a volume standpoint, it looks as if some are getting impatient now. But after the numbers come out, it will surely break one way or the other - hopefully our way.Quote:
Originally Posted by trippingthespeculatingpos
Today I placed a stop market order on BEHL at .0195, when the stock was at .025. I figured people would start taking profits and it would get down there pretty quick. Well it spiked down, sold my shares for .0185, then bounced right back up to .022, like immediately. I've seen this a number of times in other stocks when a rally is fizzling out. Why does it happen? Is it just someone unloading a ton of shares and flooding the market in the short term? Ive heard people speculate that MMs are just trying to trigger the stop sells to get the SP down so they can buy a bunch in the middle of a rally. Any input?
yeah tree, i never use stop orders, too risky, if u want to sell just sell a stop order will just have u selling for less
Lots of times they don't come back up, so you did absolutely nothing wrong. Congrats on your profits.Quote:
Originally Posted by thetree
A lot of times pennies run for about two to three days and it is over with, especially if they don't have a good product that is readily available for sale. A bunch of pumper sites do this all of the time. They take a stock that is inching up, THEY invest in it and then post it on their website and send out a hot stock sheet. Buy the time people are into buying it, they are all ready selling it, which puts you 90 degrees out of phase and on the short end of the stick.
Pennies run off of momentum the majority of times and most of the time the momentum is artificially created by people.
The reason that we like MGLG so much is because they have a product...Gas and Oil, plus 11 more leases on proven ground and two shale operations. BCLE has several products and government contracts bidded on. BCLE has money. MGLG has money. SPNG has products. They sell their sponges on T.V.. I see them every day. They are all revenue companies.
You did fine! Don't have sellers remorse, because the volume was huge today and it will do well to keep an eye on the stock price for a bit.
That is the exact reason. In addition, the base is holding really well for the low volume, which shows that people aren't turning over their shares like a stock normally would. There are a lot of people hanging in there. You always have the shakes that fall off of a tree.Quote:
Originally Posted by Dr. Dave
bill why do u always sound like ur putting down behl in some way? are u blind to the potential? are u blind to THE FLOAT of mglg 10 billion shares bill, gl getting that 1 off the ground, lol and its not fake pumping when their is real prgress being made, which there is. you guys got revenue, GREAT, your gonna need a ton of it with your 10 billion float.
IMO - its more like there were a ton of people with 1000%+ gains selling - like any other momentum rally. Good traders sell into strength, they write about it in books, but many don't like to follow the advice, as greed and wanting to get out at the very top keep them in. Once the folks with the big gains start booking real profits, the people who needed (less experienced retail and the like) to "see" the company's stock rise before they commit funds then step in and buy - so they don't miss the boat - and on hopes that "it'll go up again". You get a see saw after that. Those that bought the rally after it happened will likely lose in the short term, and can in the long run too. Those that sold into momentum have a real profit. If you booked a profit you did just fine, especially with these stocks. But if according to your analysis the stock is going to turn down, just sell it - preferably with a limit order. Regarding MM's - sure they exist, but that's just part of the game. There shouldn't have been people placing stops in a rally like that - just profit takers and hopeful buyers. Those that consistently argue that MM's consistently ruin their trades need to step out of the game, learn the game has risks (MM or otherwise) and how to play it, or trade stocks like IBM. You'll never be able to consistently buy and sell at peaks, remember that. You'll catch a few here and there, but consistently, no. So be happy about the gains you get. That and no stock will gain 100%+ day after day after day after day... so selling into strength isn't a bad idea.Quote:
Originally Posted by thetree
Totally agree - I like the base, like I liked the string of tops on the upper end of BEHL.Quote:
Originally Posted by billhart22
That is why I congratulate people all of the time for making money with it. Congratulations to you too and I am glad that you are making a lot of money. That is what this is all about.Quote:
Originally Posted by trippingthespeculatingpos
Those are some really wise words! I can appreciate that! :)Quote:
Originally Posted by Dr. Dave
I watched BEHL all day today and I was amazed how it held. I thought it was going to sell off in the later afternoon, but it did really really good. About mid day it took a little dip, but recovered. After that initial gap up it dropped a little bit like I thought. I honestly didn't know where it was going, but wound up fine for the day. I wish that I would have picked up some, but hindsight is just that.Quote:
Originally Posted by Dr. Dave
Yeah, me too - Like I said, I meant to put in a buy for after it started to move, but didn't get around to it.Quote:
Originally Posted by billhart22
Just to be clear - the tops I was referring to are on the daily chart - the 6 days following the peak on the 22nd. Following the peak on the 22nd, there was a weak reversal candle set up - like that on the peak on the 15th. Then they were both confirmed, which is why I got out of the BEHL trade. But once it held for 3-4 days, I considered that bullish. Try it out on that chartgame. ie. identify an intermediate term rally, get in on a pullback - preferably on a confirmed bullish candle set up, then sell on the reversal candle like those on june 16th and 22nd. Then if you were wrong, and following a spike you get 4 or so days of the price holding up, buy on the first candle that breaks out. With that game, I'm clicking as fast as possible, but that's one of the strategies I play - unfortunately, you can't sell directly on the candles like on the 16th and 23rd - as you would book a better profit. But give it a shot -and look for the long term support/resistance lines, particularly in prices that end with 5 or 0, cut out there too. It's a great tool for just learning how momentum works.
BigSandy, u might want to look at IGNT(i own, bought in at .0016), it seems to have some potential from what i have researched, and it definately has been good to trade around if u do that, i plan to buy more below .0080 as soon as i have more dry powder, as always do your own DD, just throwing it out there if u or anyothers are interested:)
I am going to take a look at that. You have my mind churning now, lol! I have to go to work tomorrow and tear some tile out and maybe some sub-floor and replace it, put down some floor leveler maybe, and then maybe some cement board, then re-tile in a residence. The peoples' washer and drier are on the second floor and the spin cycle shakes the whole house. lmao. You know the spin cycle jokes I am sure. :)Quote:
Originally Posted by Dr. Dave
Hey Tuck -
Even though it wasn't addressed to me, thanks for the contribution! That is something fresh to look at!
If you do play that strategy - I buy (hit the buy button) when I see the candle that confirms the reversal (hanging man/doji) set ups, but hit the sell button when I see the hammer/doji (don't wait for confirmation) on the sell. If it were real life, I'd buy toward the end of the day of the confirmation candle - which would give more oomph when correct, and sell on the man/doji toward the end of the day so I don't have to take the hit the following morning. Of course, this is for listed stocks. If the game was for the pennies, I wouldn't wait that long - ie. I woulda been out of BEHL today, even though another bull day or a gap and trap may come tomorrow.Quote:
Originally Posted by billhart22
I still haven't looked at it yet, but thanks for the heads up. I was still grooving on boardreader.com That is a cool site...I thank you for the insight!