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.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.
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.
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.
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