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Thank you so much for that tip. I will not normally be able to use the L2 as I'm typically at work. I just happened to have a vacation day today, and I've had the ability to look at the L2 the past few weeks, I just wasn't at home to do it. I greatly appreciate the advice.
Good morning Vlisp. Question for you. Today is the first day I've been off work and able to watch the L2. The whole L2 thing is new to me, but I'll take it since Fidelity gave me their Active Trader Pro at no charge. Anyway, with BAA I noticed a whole bunch of asks for 100 shares at prices such as .2301, .2302, .2303 (has a few bids of 100), .2304, etc. What is the purpose of this? Is it someone trying to keep the price down, or maybe vice versa and trying to show the price climb?
No problem. According to their website it's their Q2 Financial Results. 11am EST on 8/13/2014. Link below.
http://www.banro.com/s/Events.asp
Yeah, I've seen that on the BAA board as well. I try to stay away from there, but some of the comments are just amusing. I haven't seen any filings either, but I didn't know how long they had before they filed, and if that might be a surprise come the Q2 report next Wednesday.
Do you think institutions are unloading some in BAA or that maybe the company is diluting? I've been a little skeptical to add any and bring my position down because like you said, it always seems to go lower. I am still holding all of my shares...unfortunately they are at a .52 average. Kind of waiting for that .20 mark and then will make the decision on whether to buy the hell out of it, or just weather the storm. I guess I've been patiently waiting to see what next Wednesday brings.
Ray - I think we are all just awaiting that big announcement with MNGA. I agree that there are a lot of little PR's, but I like that. I know it's not doing a lot one way or the other with the stock price, but it at least lets me know they are working to be better and to get their product out there. This of course is just all my opinion on what I prefer to see.
MNGA - I agree, nothing earth shattering...but imo, the earth shattering news we all crave will come in the form of a PR. I'm just glad to see a good quarter, and to get some updates on all the things they have on the table.
Here are the two things I'm the most excited about from the 10Q. While this is only driving excitement because of the anticipation, these imo are topics/business that could send MNGA to a completely different level.
MagneGas for the Co-Combustion of Hydro-Carbon Fuels to Reduce Emissions
Navy
http://biz.yahoo.com/e/140806/mnga10-q.html
Thanks for the info Newsguy. I got into MNGA a while after all the Navy talk, so I didn't know much about it, other than the occasional post here and there that would mention it...so I just knew it was one of those things being worked in the background.
I agree. The nice thing is that this is just the beginning for MNGA. I can't wait for the day when we start receiving news like this on a weekly basis...or if we get big news on a substantial contract...speaking of that, have you heard anything on the Navy contract? I haven't even heard it mentioned lately.
MNGA - Good news. I hope this gets the price back on the climb.
Well, I've still got my cash and will be patiently watching. I'll have to buy more if it hits .20
No kidding...what happened to drive this down? Gold up, it would make sense that BAA would be up...but getting hammered here in the afternoon.
Thank you. I greatly appreciate your opinion, so that is why I ask.
Do you follow MNGA at all by chance? The reason I ask is that I cleared some funds today. MNGA, SPEX and BAA are my current holdings. I saw your opinion on SPEX the other day as a hold. All 3 do give me an opportunity to average down, so I just thought I'd pick your brain.
I like the way you are thinking. I've been waiting to see a big move too, as in my opinion, the drop we've seen has been way too big. And you're right, a big move up in gold could be that catalyst.
Thanks. I'm still holding as well. Something is just weird with BAA...the volume has picked up, yet the price still seems to be declining. I was afraid they might be diluting right now, but this mornings PR seemed to indicate they were still considering different financing options.
I hope we don't see .20...Although, if we do I think I'd better free up some $$$ and average way down.
What are this weeks thoughts on BAA? Do you think they are diluting? I still have my position...but have yet to average down. So far not averaging down has been a good move because it just seems to continue dropping. I'm almost reluctant to do anything until Q2 numbers come out.
I'm in that same boat with SPEX. Hopefully it snaps out of its funk soon.
$MNGA New article from TheStreet just hit!
http://www.thestreet.com/story/12782710/1/3-stocks-under-10-to-trade-for-breakouts.html?puc=yahoo&cm_ven=YAHOO
$MNGA - Article just posted from TheStreet
http://www.thestreet.com/story/12782710/1/3-stocks-under-10-to-trade-for-breakouts.html?puc=yahoo&cm_ven=YAHOO
Yeah, it has been painful. I didn't personally think it would get this low, but now I'm wondering just how low they can take it.
BAA - Vlisp, what's your opinion on when you think this will turn? Did you end up adding more today? I'm kind of surprise this downfall has continued.
MNGA - I think you're golden Ray. I posted this last weekend, and I said then that I might be a week early. However, any flippers that listened to me had an easy 10+% in the first part of this past week. Anyway, I'm looking at the weekly 50, 200 with the Bollinger Band overlay. The candlestick today is another short, tight and white candle...Now look at the last two times that happened when the candlestick hit the center band. I like this one! Have a good weekend.
MNGA - This is more great news. Very promising. I'd still like to see really great news with a PR on some big sales or a big contract. In the meantime, I'll just be patient!
Yeah, it was a brutal day for gold and all of the miners followed suit. What I found interesting was that the miners I have on watch around $1 per share lost 5+%, but miners trading around $0.50 or lower all seemed to close with only a 2-3% loss.
Yeah, it was a brutal day for gold and all of the miners followed suit. What I found interesting was that the miners I have on watch around $1 per share lost 5+%, but miners trading around $0.50 or lower all seemed to close with only a 2-3% loss.
I need someone with better info than me, but I'm confused on the close. My Fidelity account and Nasdaq show .33...However, if you look at all of the trades on Nasdaq the last trades of the day are all below .32. In fact, based off of the last trades I'm seeing it should have closed at .3121
I'm not sure how to explain that as there are no after hours trades showing up either.
If the .33 is real, I guess it doesn't surprise me as people try to accumulate. However, given what happened to the price of gold today I'm not surprised at all that BAA was down.
MNGA - Absolutely it's ready to run. Just wait until we actually get some solid news.
Blue - What is your opinion on where BAA will trade in the upcoming weeks and months? Do you see any chance that it will see .30 (or less)? I thought that we might see that, but now seeing that .325/.33 has been holding I don't think we see .30 unless gold prices fall (which I see no sign of that) or unless Banro announces more bad news.
After re-reading the PR, my problem with it is that it seems to, in a sense, contradict itself. That is why I'd like to see another PR soon with definite plans.
I'm not blaming Banro in anyway, and my shares aren't going anywhere. Really, at this point I'm just trying to determine whether I need to double or triple down in the next couple weeks...or do I have 3-6 months of BAA trading in the mid-.30's where I can invest elsewhere for now.
Now to my problems with the PR. Under their short-term plans they state, "The preferred short term strategy". If I "prefer" something, that tells me there are other strategies to be considered, but this preferred one is what I feel is best. Later on in the next paragraph they state, "it is proposed to install". Using the words preferred and proposed leaves my mind to think that management still has decisions to make. The confusing, and what I'm calling "contradicting" part to me is that in the last sentence of that paragraph they state, "the upgrade is expected to be completed in Q3 2014" which to me gives me the impression that they are moving forward with their short-term plan. So give the shareholders a PR that says "This is the plan" and "This is when we plan to start".
Moving onto their medium-term strategy they state, "This work will be carried out in parallel with the short term strategy outlined above. The cost for this portion of the strategy is estimated to be US$20 million to be spent over 10-12 months beginning in Q3 2014". In parallel to me means that both strategies are being worked at the same time...so I don't see how this medium-term strategy carries out to Q4 before it starts, especially since the PR states it's beginning in Q3. So if it's $2M per month starting now, what is their plan to fund that.
Those are the clarifications I would like to see, and I don't see how the PR answers any of that.
Thanks Tex! I honestly haven't gone back and read the PR since I read it the first day. I was shell-shocked about how it was written, and have just been sitting and trying to figure out when the best time is to better my position, or start a position to flip.
From what I've read in their PR and in the email response that TheProfit posted from Naomi, I feel they've only told us what their problems are, and what they need to fix it. What I'm looking for is their plan to get the $20+ million. Do they intend to dilute, is Gramercy or someone else willing to throw another chunk of change at them to fund this, or like many have suggested on this board, are they going to choose to run Namoya as is for now and come back to the fines later after some of their other debts are paid down.
The only thing I will say in looking at Naomi's email response is that it seems to me that they just want to fix the problem. I didn't really get a hint of that in their PR. So if they are going to fix the problems right away, how are they going to get the funds to do it...that is all I really want to know.
Thanks Profit. I'm glad you heard back, but now I'm a little peeved that I haven't received a response back to my email sent earlier this week. Oh well, right now I just hope we see a PR early next week telling us what their plan is.
Thanks! And yep, definitely read that post and the attached link. Very interesting to say the least. I had never heard of the petrodollar. Thanks again for your insight. Just trying to learn everything I can from the "xpert"!
MNGA - Hadn't looked at the chart in a while as I have been patiently holding, but based off the trading this week and then the rush back to the 50dma at market close makes me feel good. I took a look at the 50, 200 weekly chart with RSI indicator and BB overlay. It sure appears to me that either next week, or possibly the week after if the RSI touches 50, that we'll see a move from that 1.37 or 1.38 mark from the center band. Anyway, for those not in you might want to camp with your order at 1.37 or 1.38. It may drop a little lower with as shaky as the market is now, but I'm solely looking at what the chart is telling me. Same goes for anyone looking to add more shares to average down (or possibly average up)...I think the lowest you will get is mid to upper 1.30's.
Good luck to all!
Vlisp - would you elaborate some more on your thoughts here with BAA? I've been contemplating adding more to better my position, but not sure if I add if I should consider flipping, or if I should still be thinking long term. Out of curiosity, do you see this dipping to .30 or lower?
Also, if I haven't said it before, I greatly appreciate your insight. Thank you!
Also look at the 50, 200 weekly of MNGA with the Bollinger Bands overlay. I think even those with short term interest should like the way this chart is set up. Since the new year MNGA has bounced twice (setting up for a third time) of the center line. And each of those bounces occurred when the RSI came down and touched 50.