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Hi LITO, Well, I dumped my 800 shares of GSF@62.50 on 3-22 for a paltry $1800 gain (wanted more since I bought some in Dec. and more in Jan). GSF is closing in on it's 52 week high. However, I bought 200 shares of GSF back @62.90 on 3-23...this Iran/North Korea nuke saga continues and may push energy higher...as well as gasoline consumption, not to mention ongoing increased oil demand in US, India and China. I also sold 200 RIG on 3-22 for a measly $300 gain and sold 100 NE on 3-22 for another $300 gain but that was OK because I only owned it for a couple of days. As you know energy was up big for the week and the Dow continues to chug along. I simply wanted to reduce my position a bit in the drillers and let them pull back and pick up the same ones again but less shares and maybe try refiners again like VLO again or SUN. They have both been strong lately and gas prices continue to skyrocket. Analysts are saying the refiners are doing so well they are "printing their own money", lol. I just don't want to get caught in a sell-off in the energy sector. Take care. thespleen
LITO, I got chicken with VLO and dumped it at 49 in early Jan. for a $7K loss. Needless to say it turned out to be the bottom pretty much and here we are today and it is at $60. Not a good feeling. I should have been more patient. James Cramer was talking up GSF on his CNBC Mad Money show tonite. He said it was a money maker, liked the buyback plan and is takeover candidate. He also loved RIG, HAL, SLB and NOV in the oil patch. I tell you I was very disappointed in the paltry 22.5 cent divvy from GSF since the stock price hasn't moved much in the past few months, they made a ton of money last year and I just got a $4.125 divvy from DO a couple weeks ago. I think GSF could have been more generous to the shareholders. I bought a couple hundred shares of RIG a couple weeks ago...hasn't done much but it is also a rumored takeover candidate. Here is the link to Cramer's show. Take care. http://www.thestreet.com/_yahoo/funds/madmoneywrap/10343901.html?cm_ven=YAHOO&cm_cat=FREE&am...
lito, by the way....why do you think GSF was down 95 cents(1.49%) today when all the other oil/gas stocks were up quite strong? Moreover, crude oil was up $1.14 as well and OPEC said they would be cutting 500,000 barrels more (let's see on that one) in Feb. 2007.....which is only 6 weeks away. It seems there was plenty of good news for oil/gas stocks to move with.
lito, I ended up getting 200 shares of DO yesterday @81.88. after I was talking to my broker/friend about it. Then today he called (we grew up together)and he told me that HE bought 300 shares yesterday after talking to me and looking at the fundamentals of DO,lol. Too bad I don't get a commission! As you probably know it was up $2.27 today to $84.43. EVS is apparently highly thought of in the analyst community, though no hefty divvy. Since I've just recently started to throw money into the oil/gas sector and made a little money on it, it's the first time in my life that I don't wince when I looking at my home oil heating bill or cringe at the gas station.
lito, one more thing if you are a dividend junkie, a have a friend of mine who is a broker at AG Edwards where I have an account and I speak with him very often. He is of course aware I'm doing some day trading with my other Etrade account. We just spoke and he was telling me to check these oil plays out...frankly they don't appeal to me that much because they are hefty dividend paying stocks and he is a conservative buy and hold type of financial advisor. Anyway here they are;
TPP,EPD, OKS, APL.
lito, I have 500 shares of GSF@ $62.88 that I just bought a couple days ago. I also have 500 shares of COP@ $70.69 that I bought the same day and unfortunately 1000 shares of VLO @$56.20. Something is wrong with VLO but I'm not sure what the problem is. If you are a dividend junkie and want another offshore driller play, try DO. I came across this article yesterday. http://money.cnn.com/magazines/fortune/fortune_archive/2006/12/25/8396723/index.htm?source=yahoo_quo...
Thanks oaks,I imagine the article you posted is basically the same one my broker saw today, however he did specify Merrill Lynch as the firm giving it a price target of 74. As I'm sure you know GSF has been on a steady upward trend since the beginning of October 2006. I just learned about it a month ago. I'm also a VLO stock guy. I've been in and out of GSF a couple of times because it moves like crazy....both ways. In the end, I'd be better off today if I simply bought and held on to it. Do you have any shares of GSF and if so what is your game plan? Fed on Tuesday, US Dept. of Energy Oil and gas inventory numbers on Wednesday, OPEC decision on Thursday and Options expirations on Friday....I don't know what to expect from this stock by the end of the week.
My broker from AG Edwards called me today because he read on his office news database this morning at 8AM Merrill Lynch just raised the price target of GSF to 74. Also, the news item said GSF was a possible takeover target. Anyone else see anything like that?
"Pump it up"...by Elvis Costello
hey man....I don't know what you are smoking but....got any extra?
martucci...I was lucky enough to get in at.068 and out at .08. I'd like to get back in at some point...that's why I watch the stock. I'm just not real confident this stock is going anywhere at this juncture. For me, I'd like to see some more positive press releases and more upside volume before I get back in.
Price-Waterhouse....you mean those great auditors for that wonderful company Tyco International Inc.?
"I've fallen....and I can't get up". This thing is going to bleed to death unless some positive news is systematically released...unlike those fluff pieces from the past couple of weeks.
With today's chart, FMNJ is flatlining like it's on life support....and the patient is unresponsive......
Gee, the volume is so low the past few days...and it sure doesn't take much to move the stock.
sortagreen...you ought to change your name to sortastupid. Jingoism? You don't know what your talking about and you obviously don't know what I'm talking about. Peddle YOUR drivel elsewhere.
Bigdog, I agree. Venezuelan President Chavez hate the US and is cozying up to Bolivian President Morales. It doesn't seem terribly unstable in Bolivia but their direction is unclear...except they are going socialist. Any gov't just taking over private property is troublesome...even here in the US it kind of happened with the Eminent Domain decision handed down last June by the US Supreme Court. The stock definitely has potential but there are many business obstacles still to be resolved within an uncertain political climate. That can only keep the stock from breaking out at this point....in my humble opinion.
http://news.yahoo.com/s/ap/20060531/ap_on_re_la_am_ca/bolivia_us_1
For me, these press releases are not very impressive so far....and I think the market agrees. I believe that's why the stock is going sideways....not bad news, not really great news, but just little fluff tidbits to keep folks watching and hoping.
I agree history.
Ranzy Knucklehead, I'm already out with a profit and sitting on plenty of cash. Clearly you are projecting your situation onto me....I'm sure YOU are the one stuck with shares at a high cost and you keep trying to urge everyone to buy, buy buy so you can get your head above water and cash out.
Ranzy, you are always buying up this stock and telling everyone to do the same...every single day. You must have a lot of money saved up and you must have a ton of shares. You never have anything substantive to say...just pumping and hyping.
This press release is not newsworthy to shareholders unless it provides specifics. The stock price hasn't budged and nobody is impressed.
After nosing around the internet some more I found that Kurt Spenkoch is also Secretary and a Director of the "Tradestar Corporation"...Tradestar is an independent energy company that is engaged in the exploration, development, exploitation and acquisition of on-shore oil and natural gas properties in conventional producing areas of the United States. It goes on to say; "Kurt Spenkoch has been secretary of Tradestar since June of 2004. He was owner and president of Crown Steel, Inc since 1981 until 1998. After selling Crown Steel in 1998, Mr. Spenkoch formed Swag International to market products from Europe to US and South American markets. Mr. Spenkoch graduated from University of Texas in 1981 with a business major."
In another company disclosure statement Kurt also received 1,350,000 shares of "WECTAC" and then an additional 4,950,000 shares for "legal and consulting services". WECTAC is associated with E-Convergence Technologies Limited (ETL),
which is a Mumbai (Bombay), India based company, and is focused on providing companies with the means to communicate and educate through the internet. In an odd twist the disclosure statement also lists William Petty as buying 6,000,000 shares. I assume it is the same William Petty of "Petty International Development Company".
Petty/FMNJ link; http://biz.yahoo.com/iw/060418/0123605.html
WECTAC link; https://www.otcstockinfo.com/repository/657426/657426_FR8.pdf#search='kurt%20spenkoch'
Tradestar link; https://www.otcstockinfo.com/repository/625860/625860_FR2.pdf#search='kurt%20spenkoch'
I'm not sure exactly what it all means, but kind of interesting stuff.
Call Kurt Spenkoch, VP of Operations for FMNJ at his home tonite in San Antonio, TX 210-826-7716. Maybe HE has Austin Powers' number.....Ya Baby!
False information? It was a blatent joke, much like the phoney cheerleaders who hype this stock during the day ("I'm loading up the wagon at this price"..."Here we go up to $1.50 by the end of the day"..."I just bought another 600,000 shares"..."Get in on the deal, it won't last forever at this price", blah, blah, blah) I think I'm reading a QVC Home Shopping hawking script when I see nonsense like that on this board. Get real and smarten up.
MSEED, that was a joke my friend. Andrew Austin didn't call me and I sincerely doubt he called anyone on this message board. I agree with zagyzebra in post 5066...something smells here. Does Andrew Austin exist? I suppose so...pick one;
http://preview.ussearch.com/preview/newsearch?searchtab=people&adID=2180003042&adsource=81&a...
Absolutely Austin exists...in fact Austin just called me again and let me record his comment regarding Bolivia; http://sounds.wavcentral.com/movies/austin/oh_groovy_baby1.mp3
Great News! Andrew Austin just told me he saved a ton of money by switching his car insurance to Geico! That's all I can tell you for now until my orders get filled.
martucciisstillscum, since your orders have been filled, just what did Andrew Austin tell you when you spoke with him yesterday?
syracuseo, frankly you are the one ranting, raving and throwing a blot clot. I'm calmly and simply reciting the facts and asking "where's the beef" with this company? I popped out of nowhere (as you put it) because I've only been following this stock for a few weeks and recently found this website. If you had bothered to look at my first few posts on FMNJ you'd see some rather benign comments. In fact, I actually agree with your question when you said in a previous post #4713 regarding Austin;
"I don't understand that he writes "I would like to give you each an update"?? Why doesn't he just write the PR and get in touch with EVERYONE at the same time! Doesn't that make more sense than individual updates ?" I offer unanswered questions about FMNJ and it's affiliates to this board. You can turn a blind eye to the facts, put your little pleated skirt on, pick up your pom-poms and be the FMNJ cheerleader or you can try to rationally understand how this tiny company can possibly take on an enormous task like the Bolivian mining project.
syracuseo,what am I here for? I'm here to ask questions, give answers, offer opinions, get information etc., just like some people. I never believed in FMNJ. For me (and many others) it was and is purely a momentum play. But at least I tell the truth and won't sit there and simply hype the stock to increase the price to then dump it. You don't like it? Too bad. You only want folks on this board that agree with you? Too bad. By the way, you lose credibility when DON'T use facts in your argument...oh that's right..you don't like facts because they conflict with your absurd expectations with this company.
Arnst, thanks for your wisdom but I already did a while ago, and yes I was lucky enough to make some money.
So we have FMNJ based out of Las Vegas, Nevada..or is it Colorado...or is it Texas? FMNJ, where nobody answers the phone except a $8/hr, gum chewing secretary who puts you through to an answering machine. FMNJ, a company with maybe 4 employees, no assets, no income, no contracts and yet losing money.... in a deal with "Petty International Development Company"...a company with no address, no phone number, no information available whatsoever. Together they are going to pull Bolivia (a socialist country currently in geopolitical turmoil) out of the depths of poverty? Now we have the "A S Austin Company"....also no information regarding this entity available online whatsoever...saying he is "amazed" by the good news happening down there according to a source who simply cannot right now reveal exactly what the wonderful news is. What's next...Donald Duck Inc. giving the whole scenerio "two thumbs up"? Look, this whole thing is a joke except for the sorry pukes that hype this stock to dump it at the expense the poor souls who buy it and get caught holding the bag.
I just called FMNJ and a secretary answered and she said she doesn't know of anyone named A S Austin working with FMNJ. She then put me through to some unidentified joker's voice mail in FMNJ so I could leave a message. Good luck to you folks that have money in this sorry, unregistered, "non-Blue Sky stock".
The origin of the term is a bit unclear, but the first use of the term that we are aware of is in an opinion of Justice McKenna of the United States Supreme Court, in 1917. Justice McKenna wrote the Court's opinion in Hall vs. Geiger-Jones Co., 242 U.S. 539 (1917), which was three cases, all dealing with the constitutionality of state securities regulations. Justice McKenna wrote
The name that is given to the law indicates the evil at which it is aimed, that is, to use the language of a cited case, "speculative schemes which have no more basis than so many feet of 'blue sky'"; or, as stated by counsel in another case, "to stop the sale of stock in fly-by-night concerns, visionary oil wells, distant gold mines and other like fraudulent exploitations."........sound familiar????
What a bunch of crap. Who is A.S. Austin, how come an internet search reveals nothing on him OR the company, why does he have punctuation errors in his "private e-mail", how did YOU just happen to get it when the stock is tanking? Talk about a pump and dump scheme!.....or maybe you meant Austin Powers...ya baby!
My sense is that FMNJ will slowly drift lower until some news comes out (good or bad) and then it will make a quick move up with lots of volume, many folks will dump their shares and the cycle will repeat. Anybody else feel this way? Also, I'm finding these American Express pop-up ads on this site very, very annoying . I have a pop-up blocker but they still appear...anyone else getting these?
Well, I think it is a fundamental investment tool. Sure we can look to Yahoo, this site, pinksheets.com and so on for charts....I just thought ETRADE would want you to stay on their site and would provide a basic tool like a charting option for penny stocks!
Etrade...why no charts for FMNJ,EDEX,TNOG? I just signed up for an account with ETRADE and I can't seem to get any charts for these penny stocks. Anyone else have that problem? Thanks.
If FMNJ.PK is going to make a ton of money....then why didn't the company's CEO Melgarejo, CFO Jackson, VP of Operations Spenkoch, William Petty and all their relatives, business associates, investor friends etc. buy up all the stock earlier? I figured at 1.6 billion outstanding shares at one cent would only be $16 million dollars. Clearly it was even a mere fraction of that earlier this year. Don't get me wrong as I'm inclined to jump back in shortly myself. But that question has been on my mind. Also, check out the CIA fact sheet on Bolivia...nothing surprising but interesting. Thanks.
http://www.cia.gov/cia/publications/factbook/geos/bl.html
Which discount broker do you recommend for penny stocks such as FMNJ.PK. I'm new to the penny stocks. I bought 200,000 shares of FMNJ.PK @.068 last week through my full service broker and the commission was $680! I sold it the next day @.08 and the commission was $600...that's with a 25% discount. The brokerage firm made more money than I did. I am sick of them. Thanks. I like the board.