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Hey Sean -
While you are getting set up, make sure that you have level II capability with your software. You will need it for these types of stocks. It is good to have anyway for any stock.
If it doesn't come with the software that your brokerage firm gives you, then you can get it for $29 a month at investorshub.com.
If you have any questions, please feel free to ask.
You will need it.
Bill ;)
Hit 2 Billion in volume......
Bill, what are your thoughts on MGLG after today. The rally stalled.
I actually thought the statement they put out was filled with positives. I'm surprised the SP didn't go up from that alone.
I still really like this stock. The #'s will be out soon.
Hey X -Quote:
Originally Posted by xitvp
There was a bunch of profit taking from flippers and that letter caused the damage.
I thought the letter had a lot of positives also, but people were looking for a PR with numbers.
They haven't put the numbers out yet and according to IR (Karen) at Megallan, news will be out very soon per the IHUB forum.
Trading stalled because most people were not willing to sell even though the price was going down and are holding. A stock can fall by its own weight when there is little volume.
Now, later this week, maybe even tomorrow, people are going to start buying again, according to my guesstimation.
The stock was growing too fast and gapping up, so it had to give.
I plan on just riding it up and if it gaps up to an acceptable level, then I will sell off and catch it again after it falls.
If the stock goes up naturally, then I will ride it out, but those quick gap-ups are not supportive enough to hold the stock price for long.
I am glad that you asked me that question, because now I know what I am going to do. I really didn't have a proper exit strategy until now. :)
Tomorrow is another day and hopefully the PR comes out really quickly.
Bill,
I have been thinking about this as well. I suspected that a gap up this morning would induce some heavy profit taking. If you think about the people who got in between .0001 - .0003 with 1k in they were look at between 10 - 25 thousand in profit. yes that;s 1000 to 2500% profit.
But, come on . . . I thought there would be a lot more people holding even with huge initial profits. Additionally there were a ton of flippers. This can really slow down the bull. I believe that is why we are having so much volume. We have attracted too many stock buzzards.
BEHL had me thinking about that. They have had a very quiet rise in pps. 40M in Volume compared to MGLGs 1.8B. This just shows that you have a lot of flippers and manipulators in MGLG. Not to mention that when you have a huge profit taking dip many times the hanger oners (those that only jumped on the stock because of the rumors) will panic and dump causing a cascade.
A letter stating that they will be generating revenue didn't even turn this around. I think we will just have to wait out the storm. In the end I still think this will be a solid stock. We are dealing with human emotion/psychology right now. The only problem was that it worked against us instead of for us this time.
What say you Bill, Ray?
TORONTO -- 06/15/09 -- Magellan Energy Ltd. (PINKSHEETS: MGLG) has issued this Letter to Shareholders in order to address these questions and to review the success of the Company's expansion efforts through the second quarter of 2009.
From: Apolinar Carcasona, CEO, Magellan Energy Ltd.
To Our Shareholders:
In response to a number of questions posed by shareholders in recent weeks, I would like to take this opportunity to unequivocally state Magellan's position on a number of issues.
(That first paragraph should be self explanatory)
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Our Martin and Anderson leases are once again producing gas and have brought Magellan to "revenue producing status."
(They are now producing revenue, but not saying that they are making a bunch yet or have been paid yet)
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All of our wells have now been connected to the compressor and gas is flowing.
(All of MGLG's wells are connected and the gas is flowing)
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Lines from other producers in the area are slowly being introduced and as soon as volumes have stabilized, Citizens Gas will be providing us with average volume numbers.
(Other companies are being hooked up and as soon as the volumes have stabilized, then they will have some average volume numbers)
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As soon as these numbers are received, we will update shareholders.
(Self explanatory)
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Also, to clear up further confusion and to lessen inquires internally and externally, while Magellan is not an operator itself on these properties, it is a member in good standing of TOGA (Tennessee Oil and Gas Association). Our business partner, TMD Energy, is the operator on our projects.
(Magellan is a member of TOGA even though TMD Energy is the operator, Magellan is not)
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Magellan's business plan has always been to seek out, procure and refurbish past-producing, low volume wells that once again are economically viable due to the high price of oil.
(Magellan seeks out old wells that had too high of a cost to keep producing, but with the higher cost of oil they are now good enough to put money into again)
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Developing shallow gas and/or oil projects in Tennessee that possess the low risk, blanket characteristics of the area, make it possible to drill and produce a well nearly every time.
(The fields are so proven that they are not wild-catting. They know the gas and oil is there and they rarely miss....this is a big plus)
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The continued acquisition of low-volume producing wells such as these will add to the cumulative oil and gas production numbers that will ultimately create higher revenue numbers for the Company.
(The more wells, the more production and the more cummulation of revenues
Well A + Well B + Well C + Well D = more and more revenue)
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There have been many inquiries about why Magellan increased its outstanding shares over the past year. For approximately seven months, up until the end of May of this year, gas production on the Morgan County wells had been virtually at a standstill because of the high BTU/shut-in situation.
(They couldn't produce because of a high BTU issue so they were at a standstill)
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As a result, revenues were at a standstill, but expenses were not. Unfortunately, our share price also suffered considerably due to this forced inactivity and overall poor economic conditions. Our day-to-day operations and acquisition strategies still required funding; therefore, our outstanding share count rose as we obtained the additional funding necessary to execute our business strategy.
(They weren't making money because of the standstill, so they had to create more shares of stock so they could pay their bills during the BTU issue and the crappy economy)
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Due to the increasing price of oil worldwide, Magellan is focusing on projects that contain both oil and gas as they will provide more upside to the Company while maintaining the low risk it is pledged to in the area.
(Since oil and gas are going up in price and they are in areas that they rarely miss on a drilling, it gives them an advantage to areas where they could miss)
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The Company is currently performing due diligence on a lease located on the Chattanooga Shale, near our existing oil and gas producing acreage in Eastern Tennessee.
(They are looking at an additional lease to see if it will pay)
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Many shareholders have been concerned about the "caveat emptor" tag for "questionable promotion" that has appeared on a popular website that supplies information on Pink Sheet listed companies. Magellan wants to make it absolutely clear that the Company did not engage in these activities. The Company was in a position where there had been no news for six months due to the high BTU/shut-in situation in Morgan County. When Magellan was able to release news that the situation had been resolved, it resulted in renewed interest in the Company and tremendous volumes and high percentage gains in the stock price were realized. There are many stock awareness newsletters that indulge in the practice of "tagging" or including mention of public companies that have realized these high volumes/percentage gains to stimulate the reading of their products. Such was the case with Magellan. When this was brought to the attention of the above-mentioned website, they chose to ignore these facts and demanded that the Company pay an exorbitant fee to have the "caveat emptor" removed. Magellan did not feel this was appropriate and refused to pay.
(They were getting a shake down by "You should know who")
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Magellan is in the process of updating its website to reflect these recent activities and to provide as much information to its shareholders as possible. In short, the Company is very pleased with its successes to date and is extremely optimistic about its prospects going forward. Magellan has grown from a fledgling company to an oil and gas producing company that will emerge as strong and profitable. We are making every effort to build upon the momentum of this second quarter and continue to aggressively implement our growth strategy through the rest of 2009 and beyond.
Apolinar V. Carcasona
President, CEO
About Magellan Energy: Magellan Energy is a publicly traded independent oil and gas company (PINKSHEETS: MGLG). The company is actively acquiring oil and gas leases, producing properties, mineral rights, and surface interests in Tennessee and Oklahoma. Once acquired, the company intends to develop each property to maximize the income from each property by re-establishing production, refurbishing and improving the existing production and operations.
Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
Contact:
MAGELLAN ENERGY LTD.
Member of the Tennessee Oil and Gas Association
Website: http://www.magellan-energy.com
Phone: 1-866-365-4724
Hey M -Quote:
Originally Posted by Stock Magician
I agree with you 100%! I am in it for the long. It may get goofy for a while, but I am not leaving it!
I just broke down that letter.....people didn't really read it. They were pissed because there wasn't any production numbers in it, so they threw a tizzy.
It could just start going back up tomorrow too...penny stocks don't need much reason to go up or down. Actually, with all the sellers out of here it can grow more normally.
We shall see ;)
I thought the letter was really informative. Here is the complete story from that letter broken down:
To Our Shareholders:
In response to a number of questions posed by shareholders in recent weeks, I would like to take this opportunity to unequivocally state Magellan's position on a number of issues.
That first paragraph should be self explanatory
They are now producing revenue, but not saying that they are making a bunch yet or have been paid yet
All of MGLG's wells are connected and the gas is flowing
Other companies are being hooked up and as soon as the volumes have stabilized, then they will have some average volume numbers
As soon as these numbers are received, we will update shareholders.
Self explanatory
Magellan is a member of TOGA even though TMD Energy is the operator, Magellan is not
Magellan seeks out old wells that had too high of a cost to keep producing, but with the higher cost of oil they are now good enough to put money into again
The fields are so proven that they are not wild-catting. They know the gas and oil is there and they rarely miss....this is a big plus
The more wells, the more production and the more cummulation of revenues
Well A + Well B + Well C + Well D = more and more revenue
They couldn't produce because of a high BTU issue so their production was at standstill
They weren't making money because of the standstill, so they had to create more shares of stock so they could pay their bills during the BTU issue and the crappy economy
Since oil and gas are going up in price and they are in areas that they rarely miss on a drilling, it gives them an advantage to areas where they could miss
They are looking at an additional lease to see if it will pay
They were getting a shake down by "You should know who"
Bill,
thanks for the mglg info .. dont sell on the bottom it will roll up as expected.. buy the company, not the day..
stockmagician.whats your take on (behl) for tomarrow we had quite a nice roll today...I am long here but like what I saw today ...
Bcle is a very good long ,a good time to buy now ..imo
Thanks for the break down of the letter.
As I posted earlier, I was excited when I read the letter and thought there were a lot of statements made that secured my confidence in the stock.
I was really surprised when I saw the initial reaction to the letter. I agree Bill, I think when people saw it was not #'s, they sold assuming the worst.
I think what happened today is a good thing assuming people either added to their positions, or new investors got in at a great price.
I'm going to try and grab a little more in the AM before this gaps up again (which it will).
I liked how they exposed "that certain website" as opposed to avoiding the subject, or worse yet, actually paying them.
On a side note....SIRI is making me want to pull my hair out of my head. A VERY frustrating stock to own.....
i have not learned a damn thing about stocks or i don't have the cajones to be in this business as i am in spng at avg .04 and behl at i think .0028 and mglg at .004...
I am playing on the house money on spng though so no biggie.
I got some bcle too... XOMA also
i prefer to invest small amounts of money and watch them go up to 400% and then down to zero... hooray! ok, i don't like it i just want to turn $60 into $75,000.
thanks for mglg, its been fun, i am holding out for .50! lol, i can hope.
i got the strangest screen a little while ago, there was "i *heart* siriusbuzz" pasted all over the website, anyone else have that problem?
anyways , today was an odd day for mglg. 2 bill in volume and huge sell off. i read some chatter that the gap up from .0009 - .0011 might fill. if thats the case , it should rise after that.
what a day for BEHL. .0072!!!! BCLE will be coming on its own soon as well...its only SIRI thats kicking my ass. oh well.
well, ill be playing an OMAHA event tomorrow at noon , so at least i can watch the early morning action. i am very eager to see where we're going with mglg. the news release today is IMO not bad at all, ceo reiterated confidence, i think the same exact thing happened with spongetech last week if im not mistaken. the PR with production numbers is expected at anytime, so that should give a good lift.
BILL , how was ur wifes trip? big shocker coming back from the airport huh with the drop in magellan. ok, off to bed , will chat in the morning ...GN AND GL TO ALL
SIRI is really frustrating. I haven't owned it in months and will not until management starts talking and the price is right. I know your frustration.Quote:
Originally Posted by xitvp
Lots of people are grabbing more MGLG while it is down. I have been watching the penny stock chat site: http://cbox.ws/?n=2-1342114-4395 and reading investors hub.
The flippers didn't like the news because they knew it wouldn't drive the price up anymore and bailed. They will be back.
It may drop more in the morning, but we will have to see.
I thought the letter to the shareholders, after I read it the second and third time was very straight forward and great information.
I am just going to hold my position.
This company is on the right path and I am not in any hurry.
Does anybody see "I love siriusbuzz.com" pics on their screen? It looks like somebody hacked in here.
She had a great trip, thank you. I have little read hearts on my screen too. We are in the right places....it is just time. Damn these hearts are irritating!Quote:
Originally Posted by bassmaster
Win big tomorrow!
Ya, I got home from the airport couldn't believe what happened, but with all of that gapping up it was to be expected. We shall see what it does this time, lol. I have to laugh.
Thank God I don't own SIRI right now, somebody ought to kick that blue dog in the butt!
They are like cheap fireworks! They fly way up high, then whammo!Quote:
Originally Posted by imromo24
You will probably get the .50 some day! ;) and then you will say - wow, that was the best investment I ever made.
Day trading is not for everybody. I know that a lot of people here in SIRI just bought it because they love the product and have done either good or bad. Some people on here have become traders because of being into SIRI stock. I bought SIRI because I love the product. I bought it at the complete wrong time and we all rode it down to .05 together and waited and waited and waited. As soon as I went over my point I sold it and haven't owned it since.
I just wish that the management had contact with the shareholders. They ignore the shareholders and that is not good. For too long they have put out the most minimal news that law probably allows. The fact that they don't do anything or report has curbed me from buying anymore. I thought things would get at least a "little better" after Direct T.V. buying SIRI's debt, but it hasn't.
In my mind, there are other things in store. They are sending up more satellites (correct me if I am wrong). Why would they be doing that? They never talk to the stockholders, because obviously they don't care at this point. Direct T.V. has the bucks and stockholders are nothing to them.
Something is shaking, even if it is for a tax deduction. I just don't get it. I would be screaming "Hey boys! We are putting up satellites, jump on board!" I really believe that they have their own agenda.
Just thinking out loud. I do not have anything to base anything upon, because we are not given anything to base anything upon.
This brings me to the MGLG state of conditions. today. They put out a letter today, explaining what is going on and the stock for the day tanks. That is O.K. though, because at least they are communicating in a logical way (at least in my mind) and want to make it all work.
I feel good with MGLG and will ride them out for a while. I will give them a chance.
Imromo, BLCE and the others will pay here in the future, so all-in-all, you may have made some really good investments. :thumbsup:
Bill
sorry, with these low price stocks its hard to remember how many zero's...i got mglg at .0004, lol.
yes, they do pop then drop, seems like a few here have good stories of selling after the pop, expecting a drop, and then it continues to infinity and they are bummed, im content hoping one of these will be a "continuer"...
siri definately has its own agenda, only thing i continue to hope for is that part of their agenda is too make the truly dedicated rich... on the other hand they could be signaling for investors to get out because something awful is coming... i rode it down to .05 and i think that gave me enough confidence that their goal is to make me rich because I should have bought more than i did, just had no dry powder at the time... i could read the msm pretty clearly that they weren't going bk.. though i had doubts of course.
You have it right on...It is a "iffy" proposition. You are a good dude in my book. I remember when you said, "Bill, how could you have such a change of heart in a month?" So, let's move together and find some positive..Quote:
Originally Posted by imromo24
Bill
yes, i remember that :D
Ray,
My take on BEHL is this:
I am loving it but, . . . . when something rises that fast we will sooner or later see some slip back . . . If not tomorrow then sometime this week. Overall I think we will continue our climb up and possibly be in penny land end of this week or next week. At some point, perhaps in a couple of weeks we will stagnate in the .02 range as we wait on more news.
Everyone . . . here is what I am thinking...
BCLE... just waiting on some news and I think they need a little more marketing to get the word out. There are just too many pluses for this stock.
MGLG: This has been an interesting ride already. wow. I think we have to wait for the storm to pass. This stock suffers from over hype. Too many vultures, buzzards, and green investors came in with much panic, micro short term profit taking, flipping etc.
This will dwindle as the price climbs. We are on a ground floor here but it is shaky as instability always reigns when rumor is strong. The most important indicator . . they just said they are "Revenue Producing"! Holy Cow that is strong! How many penny stocks can say that?!? Not many.
Things can always shift fast when one can buy 100,000 shares with their lunch money. As the price begins to climb then less play money will be playing here. Also don't expect this to be the last major swing . . there will be a few more breath taking moments coming . . . I can see a few more head and shoulders and Cup and Handle charts in the near term.
Hold and and enjoy the "scary" but ultimately fun ride.
Stock Magician
That is a good take thank you, I have had an email in to Behl that has not been responded to for two weeks ,this morning Dennis Fisher responded saying he would have my answers wednesday morning...
I did get a preview of the new power point on my EMAIL
it looked like it needed some help ...the new web site was to be up and running by may 15th ,so they are running a little behind..
1.Peru Project...is it still in the works?
2.The algae strains (behl) is working on ..will they need to be patented before they can be offered on your website for sale?
3.On your power point investors page ...It shows Exxon,and Bill Gates as investors in algae.. did this mean in biocentrics
or was this a general statement..just to show interest in algae?
4. Website..with shopping cart...to be ready May 15th...I know there is alot of information needed for this site, as well as patents to be in place before you would want to sell (behl)s technology...what would be a realistic date ...for this site to be on line? Will the website have updated investors site..?? which leads to question ..5
5.Uplisting from Pinks...I understand this could happen, is it just talk..or shall we expect that the paper work is forth coming?
6.(behl) Had been working on algae, for chicken feed, what were the results...??
7.Is there meeting scheduled for West Coast Chapter of National Algae Association?
these are my current questions to Dennis Fisher
good morning !!!!! my take on the penny investing-- its exciting, fun, and its definitely for me. but its not for everyone. i can afford to put 1k into something that might go busto. im in MGLG @ .0003 and its having a great run. people are watching what i write. and they think im a genius or i am good at picking winners. then when it tanks, i get a guilty feeling. i didnt invest in pennys last week to make 500%. i am going for blue sky breakouts. im in MGLG, BEHL, BCLE for the long haul. so if anyone cant handle the pops and drops, please dont follow my blogging. im trying to get F U $. so the risk will be alot greater.....
lets go MGLG , BEHL, BCLE, and for pete's sake SIRI!!!!!
to be honest , dont know what to expect with MGLG, looking at their history , they had the same run a few months ago, then dropped back down right after. then again this could be the cup and handle trend with a blue sky breakout soon. then again this could be a double top. only time will tell. but i feel good enough about the stock that i am not selling. DYODD and GL AN TY