Ray--Originally Posted by ray
Sell off enough SSCCQ to get your original investment back, and then let the "free" shares just ride wherever this ride is going to take us.
I did just that and used the funds to buy up MGLG and BCLE, and am I glad that Bill and others did the legwork!
I increased my BCLE shares by 75% today.
right on , that will work , bcle me too 60% ADD
good shit bro!!!!
scary. i think we've had 1 tornado here in NY since i can remember , it was in westchester county about 5 years ago i think..thank goodness everythings ok.
ok , done catching up with all the posts. today is a great day! wow we got some nice finishes...im gonna check out some sites and charts and ill post in a little while and tell you guys what i see and think....
in regards to MGLG , sick close @.0017, i wouldve been happy with .0014... the general opinion is news leaked regarding the production output report. its a good sign , when the pr is released it should drive it up even further. but imo there will be a retrace, so i guess for day/swing traders the job will become predicting the high and selling near there and doing the opposite for the rebuy. REMEMBER THERE WILL BE PEOPLE TAKING PROFITS. so it will retrace at some point IMHO. im a virgin to this stock so i cant predict any trading ranges, but im keeping a close eye on this, and just starting to learn how to effectively use the intraday charts with this particular stock. now i dont have any price targets because i dont want to disillusion any of you guys. so that means sell when you are happy with the profits or take a bigger chance for a longer term hold. at least have a trailing stop. im not taking responsibility for someone else's monetary risk factor. my mistakes will punish my wallet. DYODD obv.
as for level 2. there are 4 buys of 25k shares total @ .0016 VS 1 sell of 6k shares @ .0017 .. just below that is 1 buy of 5k shares @ .0014 VS 20k shares @ .0018......
im sure somebody who is somewhat knowledgable in OPEN ORDER SUMMARIES can decipher what that may mean to tomorrows open/ early morning trading trend...GL , GN and DYODD.
Last edited by bassmaster; 06-12-2009 at 12:56 AM. Reason: share prices in level 2 open orders
too tired to explain but heres some good news relating to mglg from bloomberg news...http://www.bloomberg.com/apps/news?p...d=aoZbGHondzUs
1.5 Billion shares today is not going away. That is a shitload of shares traded...obviously there is a slight interest in the stock. All of this is without ANY production numbers, or ANY news...it is all anticipation.
So, tomorrow should really rock....and may take some dips...Just remember what amount you got in for...it might be a good time to cover that and let the rest ride. Personally (just me, not you) I am going to let the thing go at its own pace. I think it is too early to decide when to unload.
I am not in for the .000 b.s., I want the .0x stuff or higher. I am throwing some caution to the wind, but I also realize that this could go either direction. I am going to take some of the gamble. I don't expect anybody to agree with me or follow my thoughts. I used to work in the oilfield and I was a driller (the guy who runs the rig and drills the hole) and I know the business rather well. At best it is risky, but in a known field is a big plus. They have all ready ran pipe to the substation and are producing. This is a major plus. The drilling issues are over. The output is another thing. There are lots of people in Oklahoma and Texas that have oil wells in their back yard that only produce 5 barrels a day. I am sure it is a whole lot better than that, lol.
The output is important..if the report is good and constant, then it is a good well, but if it is a so-so well, then it would be time to get out before others catch on. What is a so-so well? I don't kow these days. One good thing though is the fact that they had a btu content that was too high. In other words...it was too hot of a gas for the government. I don't know how that situation was rectified, but apparently it has been. Stability has been the hang-up from what I can tell. That is not a bad thing though, it is normal.
Now with that in mind, you would have to take a sum total of the whole field...how many more holes are to be drilled and how can they add to the average and make the stock worthwhile.
It is a complicated proposition from the word go
Looking ahead: (Future Drilling)
When is the rig going to get stuck in the hole? How many bits and type of bits need to be used? How much down time does the rig require for repair? How good of shape is the rig in the first place? How often do the crews twist off (quit). How many times do the crews get run off (fired). This is all real oilfield stuff. If you have ever seen the t.v. program "Black Gold", then you have the idea. The whole point of this is the stock (in the future) can go down and up again. The drilling is in a known field, so that is a big plus.
There is a lot involved with it..drilling a hole is a major task.
The factors are too many to mention....but, having a hole that is producing is a good sign. Now it is a matter of production results.
The point of all of this is to be aware and smart. If it is a good report, then hang on....if not, then hop out.
Just my thoughts....
Have a great night,
Bill
Last edited by billhart22; 06-12-2009 at 09:04 AM.
Bill,
Excellent advice
Excellent commentary and background knowledge... thanks!
and like you, I might be a bit more risky with this one. It is all in the PR... I am hanging on and hoping for the best.
Good Luck!
Today is going to be be big with MGLG - that is my prediction..(oh crystal ball).
I was in the penny stock chat room last night and they are all whipped up on MGLG and SPNG. It seems like everybody and their sister owns them.
This could be an interesting BCLE day also..
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