Market Watch for the week of 8/9/2009

[imromo24]

after reading tonys post to my reply ..i realized i made a grammatical error... i meant to say "YOUR BUY AT .049 IS FINE" , not you buy at .049 is fine.

sorry for any misunderstanding..

do you mean .49?

I got the same story, it took way more money than i had hoped to average down, personally im a little dissapointed in myself for breaking even in siri and then getting out now but the stock ride there has been sickening and im enjoying some time off from it. I want back in it and i would certainly entertain getting in at $1 and not caring i missed out on a double from .50 just to not have to deal with the nonsense. They have to pay off some debt, plain and simple, quit extending debt, quit bleeding and make some money. There are so many profitable companies.

If you watch the video of spongetech the ceo says that he expects revenue of 500million in 3-5 years. With 722million shares outstanding (and soon to be reduced to 500 million shares) that could make this stock an $8 stock, correct me if im wrong, but i know it would be over $1 and it has no debt..im in at .13 cents.

[billhart22]

I realize that some of these stocks are not moving to some peoples' satisfaction, but I want to say that they are not daily yo yos.

These are businesses and take some time to get business done.

How legit are some of these companies? I think most are and will be much more in the future with SEC oversight. Everything doesn't happen on our schedule.

If you feel that you are getting into stocks over and over again that are not panning out the way you expect, then not buying them could be the best bet.

You have to have a reasonable amount of money to be able to flip these, especially if you have a cash account, which I am sure 99% of people here do.

Learn from brother Ray. He is the champion of stock holding and patience. Oh, God...by the way...he is rich! lol

The whole point of this is that patience is very very important and it is hard, but that is the only way to score unless you get in on a good and quick run. That is why they call them investments. They don't call them "flippers" all of the time.

Don't think you made a bad investment until a stock tanks and doesn't come back.

Let's take an example. QASP was on a run....ok, it buckled yesterday..so what? They have four acquisitons on the 28th to sign. They are buying stock back. They are purchasing brick and mortar. What is there left to think about? They just bought a company that had to pay the stockholders a dollar per share so QASP could acquire it. Now what are the odds?

MGLG is more speculative...Personally I am in it with free shares..760,000 to be exact. It can skitter all over the place and I have nothing to lose. Whoa, Bill! You bought in cheap and I am stuck! Well, let me say that I have a couple that I don't even list that are in the same situation. You cannot win on every stock and please don't think that you can. The good part is that you can deduct the loses at $3000 per year for as long as it takes. If you lose $30K, then for ten years you have a three thousand dollar deduction. If you die before then...I don't know. They will take it off of your death tax.

My whole point is that you have to realize that pennies are risky, as we have all said over and over and they all just don't happen daily. Sometimes it just takes some time and that some win and some lose. It is not a perfect slot machine.

That all just blurted out of my head....I do have braincells left! lol

[bassmaster]

BILL - are you a preacher? because that was pure Gospel!!!!!

ROMO- i was talking about QASP... but since you brought up overinvesting in SIRI. i dumped $100k and still not green yet!!!!!!!!! actualy im not worried at all as i know i will be green by Q4. my avg is $.88. and once i am green there, i still wont sell, i am keeping those shares until at least 5 bucks.

[billhart22]

BILL - are you a preacher? because that was pure Gospel!!!!!

ROMO- i was talking about QASP... but since you brought up overinvesting in SIRI. i dumped $100k and still not green yet!!!!!!!!! actualy im not worried at all as i know i will be green by Q4. my avg is $.88. and once i am green there, i still wont sell, i am keeping those shares until at least 5 bucks.

Good gospel or bad gospel?

[Sworntwofun]

yeah for sure bro... ill let you know when i go back to the borgata for a tourney. i have to warn you it wont be for a couple of months tho. i leave for europe in a couple of weeks for a holiday and then playing some events out there. ill be looking forward to it tho!!!!

Sound good......I'll still be around....and have a good trip...

[bassmaster]

Good gospel or bad gospel?

GREAT gospel!!!!!

[billhart22]

GREAT gospel!!!!!

Thanks! Let's speak in tongues, lol! You made my night!

[Sworntwofun]

Bill....I look at trading like going to college...you have to spend the time and money to get the education...Do you remember when you Ray and me first started....man we took some beatings...ya we made a few hits here and their but look how far we come...Remember I would get so discourage I would dissapear...not even saying anything to you guy and after a few days I would show up again....

I think what you have developed here is thing of beauty and I Thank You..

Remember how we met... you posted something about siri and i got insulted (Bill was given some good advice to us guys that had all are money just in siri and he was trying to get us deversafied)and I would take it personal because I was very touchy about my siri...wrote something back silly and then apoligized...
You, Ray and me traded live on gmail everyday all day...well Sir we have come along way and the only reason I bring it up is so these new investors can understand it didnt happen overnight....You have been a good friend and a great partner and for what i learned from you I will have with me from here on out...and i got to tell you I love this trading........and when you love something and work hard at it the money will come...

[Dr. Dave]

Yeah guys, patience pays, I'd rather let an opportunity go by and keep my money, then get in late - say at the very end of the 2nd day of a run up, 3rd or 4th day, and sit thru a stomach churning draw down. That's just me, I don't dig drawdowns, no matter what I think about the stock. I used to do it, but after the initial buy, I'd rather cut out with my commissions at flat zero, than be under - the only time I let (we'll in theory, still happens) myself have a drawdown is after the initial buy, but once its moved up, lately I have been adjusting the stops such that they allow me to get out at least at $0. Of course, it takes some real timing to get the initial buy, which is what made me become a TA freak (we'll that and it allows you to play stocks you know little or nothing about, which is what I am doing with my options trades here during earnings season, ie. yesterday's play was ADSK, some company called auto desk or something, tonight I'm in A for agilent technology). I also trade much smaller these days, which keeps me from being emotional about it. Of course, if you are a high roller, you would miss out on huge gains, but I'm trying to be more the tortoise these days. LOL.

[billhart22]

Bill....I look at trading like going to college...you have to spend the time and money to get the education...Do you remember when you Ray and me first started....man we took some beatings...ya we made a few hits here and their but look how far we come...Remember I would get so discourage I would dissapear...not even saying anything to you guy and after a few days I would show up again....

I think what you have developed here is thing of beauty and I Thank You..

Remember how we met... you posted something about siri and i got insulted (Bill was given some good advice to us guys that had all are money just in siri and he was trying to get us deversafied)and I would take it personal because I was very touchy about my siri...wrote some back silly and then apoligized...
You, Ray and me traded live on gmail everyday all day...well Sir we have come along way and the only reason I bring it up is so these new investors can understand it didnt happen overnight....You have been a good friend and a great partner and for what i learned from you I will have with me from here on out...and i got to tell you I love this trading........and when you love something and work hard at it the money will come...

Tony,

You, Ray and I have been through one of the most significant times in stock market history together. I said that Stern is unimportant and you jumped all over my ass. I remember. You were a bigger man though and apologized to me. That in itself is big.

Ray, who was silent in the background and dealing with ctic started talking with me and it all came together. You, Ray and myself have done a lot of things and are good friends.

I love Ray and you like myself..and I thank you for everything that you have helped me with.

It was a hard and fun road, but was a learning experience. We took some bumps, but we have survived quite well.

I am honored to have you both for friends! It was a war that was won!