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The beauty of taking profits on penny stocks for those who flip is they can get back in if it drifts down and avoid wash sales. I have found that this strategy is risky at best. It assumes you know something as sure to put your money in.
BIGN is the type of company you want to stay in. This is a really rare pinky to invest in.
Shermann
My numbers indicate that BIGN is worth .27 a share with the 1st acquisition. We have two more letters of intent to purchase more acreage, and two more wells in Grimes coming online by the end of June at the latest. In addition we have a 50% working interest on a WWNG well which will be announced any time. Looks like a reverse merger into Tyche to take the stock to OTC-BB from the pinks is on the horizon. Lots of great stuff here.
Shermann
My understanding is that shares bought this week are not entitled to the dividend. Not 100% sure though.
Shermann
Last trade at .058 at 4:07 PM - Looks like the MM's have loaded up and are ready to go!!! Once again, some weak hands exited, some new hands got in, and strong hands accumulated more. Consolidations happen with all stocks. Not everyone sees this as a long term play as they play all pinkies short term. Also, by selling at a profit, they can buy more if it retraces with the danger of wash sales. The chart looks great - RSI has backed under 70 giving it room to move up. This is still an ADX confirmed up move. I still see accumulation going on. I say just grab the Bull by the horns, and enjoy the ride!!!
We have a lot of PR's possible - Progress on the (2) Grimes wells - WWNG Drilling News - Finalization of the last (2) LOI's - The Tyche reverse merger (I would announce it on Friday or Monday so they can be publically traded) - Rework Well Rig news (Maybe a deal with schlumberger) - N2Vision - Charring Cross News - Possible deals with Hydroslotter and/or WWNG - Financing info on LOI # 1 - Other Acquisitions - Getting more wells in Grimes ready to go for slotting - etc...
The new CEO obviously believes in keeping the investors informed. Remember, these people own lots of shares and also want to see them increase. Not to mention - the higher we go, the better position we are in for a merger with Tyche.
Shermann
I see that RSI has fallen below 70 - Looks like people will stop worrying about it being too high!!! I really never have seen that much of a correlation between penny stocks and charting, but I guess it exists. I really like to concentrate on the fundamentals of the underlying company. BIGN has outstanding fundamentals!!!
Shermann
I fully believe this stock could pull an NDOL - The fundamentals are great, and the % growth should be huge over the next couple years.
This is definitely a Long Term Play for me.
Shermann
Momo runs vary all the time - It is just a bunch of people out to make quick $$$$$. It could just move a few cents or move 5 to 10 times pps. It always varies.
Shermann
I am getting the distinct feeling that this is being set up for a momo run - Just feels that way - The size of the lots are bigger today, and we are being taken down on the little ones.
Just an opinion.
Shermann
MJC1 - Congratulations on BIGN - One of the Few Buy and Holds I have found in Penny Land. We have a real winner here!!!
How do you like your first day on Investors Hub - It is exciting here, and the quality of posts seems much better than RB!!!
Good Luck with all your trades.
Shermann
Having been through these stock dividends before with penny's, it will probably take a week or two to make it to our accounts. It will be different for each brokerage firm. Just a heads up.
Shermann
Stop Losses are not a good idea with penny stocks - Too easy to get burned!!!
Shermann
I just revisited the Wash Sale rules which obviously will not apply to BIGN - But here is a good link if anyone wants to read.
http://www.fairmark.com/capgain/wash/ws101.htm
Shermann
Speaking of the price of energy. The decline of the dollar has made all imports more expensive just based on currency exchange rates which includes oil. On top of that, Iran has just switched to the oil bourse (traded in Euros), and Russia has announced they are going to do the same. Warren Buffet said he was pretty much out of the dollar two weeks ago.
This just makes oil more expensive due to currency exchange rates alone!!!
Shermann
OMOG's dry well is such a perfect example why BIGN will be successful. We are reworking capped wells that were all producers and have the full Geologics. In addition, we are only paying approx 150,000 per well vs. the approx 750,000 that OMOG payed for their dry well.
Life is good here!!!
Shermann
EDEX and BIGN are similar - BIGN is about 9 months ahead of EDEX having already proved the hydroslotting process in Grimes with the two wells - I am in BIGN at an average of .019 so I really like the leverage I have there - I am looking at moving a little BIGN to EDEX in July or August.
Shermann
My calculations show BIGN with the first acquisition as being worth .25 a share. I think this will run to at least that over the next 2 months.
Shermann
This is the third acquisition announcement - Some people are probably worried about how we are going to pay for these - I am not - These are low producing wells, and not worth much to anyone unless the have something like the hydroslotter technology. This means that we have leverage in terms of how to pay. Working Interests strike me as the most obvious, but there are many more options. I really dont see any dilution of common shares. Maybe some resticted shares.
Shermann
BIGN held up great today - Some weak hands flipped, and some new hands were able to get in - Higher Lows and Higher Highs. I am really encouraged that we have not had a momo run!!!
Natural gas starts going up this time of year. I can see it easily doubling. Especially with what NOAH predicts as a worse season than last year. At that point in time there will be a rush towards Natural Gas stocks. We are perfectly positioned for that rush.
I consider the Grimes wells to be key to our success. The hydroslotting technology is now proved, so the volume of wells will increase dramatically. I can see BIGN negotiating with Schlumberger to get exclusive access of the rework rig. I also really like how they are linking 5 wells in 1 hookup. Each hookup costs 100,000 dollars, so that is 20,000 per well.
One huge benefit behind the slotting technology is that these acquisitions we are making are for low producing wells. We have the technology to turn them into high producers for only 150,000 dollars per well. This is great stuff!!!
Of course, we also have WWNG - The reverse merger into Tyche (wouldnt it be great if hydroslotter got merged also!!!) - The N2Vision technology, etc....
Looking forward to a great day tomorrow. We are in the Right Place at the Right Time!!!
Shermann
BIGN has moved slowly in Grimes to prove the hydroslotting technology. The first well was slotted 10 feet and produced 480 MCFD. The second well was slotted 150 feet and produces 1450 MCFD. They are current slotting two more wells, and will probably accelerate the pace. They have over 1,000 capped wells that were formerly producing and have the full geologics. These are a sure thing.
The other beauty to hydroslotting is that it only costs about 150,000 dollars - Drilling new wells cost about 750,000 dollars each, and is not a sure thing.
BIGN is focusing on acquiring low producing wells because they have the technology to slot them and make higher producing wells. Some rigs also come with the first acquisition.
We also have a 50% working interest in the current WWNG well as well as a promising technology in N2Vision. There is more, but this is why I am here!!!
Shermann
A link to a big grimes company - Could this be our production some day????
http://investor.venocoinc.com/phoenix.zhtml?c=193733&p=irol-newsArticle_Print&ID=837639&...
Shermann
I will work on that - It is a good idea!!!
Shermann
Grimes is definitely our cash cow - 150,000 to hydroslot a capped well that is a known producer versus 750,000 to drill a new well which may be dry or a low producer. There is over 1,000 wells in grimes, and we have only slotted 2!!! My guess is that BIGN is currently negotiating with Schlumberger for exlusive access to the well rework rig.
Also, I really think there is going to be a reverse merger with tyche after tyche is taken public, which should be in the next 3 months. I can guarantee you that BIGN management all has shares of BIGN and Tyche, and they want them to be worth as much as possible prior to the merger. I fully expect a good number of press releases to bring the share price up. I have no plan to even looking at selling some until at least .20 per share. Probably wont even sell any then unless something really major goes wrong. My calcs is that this stock is worth .27 as we sit including the new acquitition.
For one poster, this is my sisters first stock purchase ever (237,000 shares). She is currently doing cartwheels, and we will see how patient she will be. This is derfinitely a buy and hold as we sit.
Shermann
One would have to assume there will be a momo move sometime. The higher we are when it starts - Oh Boy!!!
Shermann
Two notes here - Zinc keeps going up in price!!! Here is a link to daily spot prices:
http://www.kitcometals.com/charts/zinc.html
Also - This is a canadian company, so the more the dollar goes down, we bebefit from the exchange rate, and the dollar is going to continue to decline.
Dont really need to say anything about copper - Here is a nice link to metals prices:
http://www.futuresource.com/markets/market.jsp?id=metal#quotes
Shermann
It makes me wonder how many people were not around today due to the holiday but will be around Tuesday!!!
Shermann
This has been an orderly move up with no real momo play. This is a great way to go. Lots of buying this AM with a lot less mirror trades which is great. The shares are really tightening up!!!
Shermann
This is a great growth stock I plan to hold for some time. I see gas at 3.50/gal making so many of these renewable energy companies profitable!!!
Shermann
Just remember it is the Friday before a Holiday weekend and things should slow down considerably this afternoon.
Although, It would be great if it did not!!!
Shermann
Welcome aboard!!! I think you will really like this one.
Shermann
It looks to me like the shares are getting in stronger and stronger hands all the time. I think we are really going to enjoy this ride!!!
Shermann
That is not all that uncommon in penny land, especially with high volume. Different people trying to buy through different MM's.
Shermann
My guess is that someone got their proverbial butt chewed at VFIN, and some of this buying is short covering!!!
Shermann
Well that was a learning experience for me - Over 1 million shares went through at .053 when it was .05 x .052. Then Bid/Ask finally went to .052 x .054. Just goes to show that a good thing cannot be kept down!!!
Shermann
Wierd - 680,000 shares at .053 but ask is still .052
Shermann
Since BIGN is predominantly debt free, they have a lot of options for financing. We will find out over the next 30 days what form it will take. All indications seem to be that it will not be the common stock as there really is no reason to do that. Most companies save that for when they really need it because they have no other options. IGTG is a good example of a company that loves to dilute. I dont think we will see that here!!!
Shermann
I will go out on a limb and say we are currently worth .27 a share base on the acquitition plus what we have. I think this is really just scratching our potential!!!
Shermann
The fall is share price is no problem - I just keep accunulating - We all know what we have here - We just have to be noticed by more investors!!! Float is low enough where we will move quickly when it is our time. It is hard to believe that more people cant recognize a profitable .10 stock when they see it!!!
Shermann
We are less than 1 year away from 1 Billion - That is my guess!!!
Shermann
The CEO has done two things I approve of. The First is keeping the investors well informed. The second is to grow when there is an absolute Growth market in the Industry. Smart Business!!!
Shermann
This is the closest to a sure thing in Penny Stocks. A lot of times, it is right place - right time. In the case, the fundamentals are absolutely fantastic. It is like looking at a 5.00 per share stock!!!
Shermann