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the game changer still in play and has half a chance is chinalot. china please bail us out. at this point i am willing loose the rest of my holding for chinalot. I don't see how it can fail, no matter what happens to the economy or what ever, china lottery has the backing of the chinese government.
well now we know why the radio silence from management. it's not because they are boneheads as everybody was saying. now the option is open that they are crooks ( i don't tink so, but the option is there ). This all might be over blown cus management is playing it safe legally by not saying anything. don't think you actually know anything cus we don't we are all just speculating with minimal facts and leading to conclusions from our past history or cliches.
excellent post. live and learn and have faith in the pricipals you hold dear. have faith in the character of the people who you trust. i also view ian as a good guy. not infalable but i believe him tobe a honest person. keep your head up egmi investors and take away what you can. it still might be $2 a share, we just are in a eight count. we may snap out of it and put an uppercut to the shorts yet. and if it does'nt findout if you want to make a change in your investing process. did you do something that you are against from a pricipal stand point not weather you like the results or not. because in the end it is your pricipals that will dictate your success in the long run.
what's weird is that orginal CFO retired and then came back, after the new cfo left because of the insurance. Why would the orginal CFO come back if he knew the books were cooked. I am concidering the stock zero at this point just so I don't get disappointed but we still have hope. it's hard to believe that steinberg who has close ties to the company would have been duped. I just pray that the investigation will end not as bad as people are currently thinking. Maybe all is not lost. that's all I got. Just happy I was not all in at the time. was considering to buy back today. crazy. Well your prediction that this trade will be a story to tell has come true Pontiac. no question regardless of the out come. It just money. Keep our head up Pontiac and happy early birthday.
Good call in getting out. I ended going down to 30% what had and did nit buy back. I sold most of my gold miners and started a short postion in gold with gll. My opion is we are in a side ways market gold miner cycle trading is the best way to generate gains in this market. Will see what the fallout will be. It is start on investigation and they find out not that bad but I am considering that total loss is possible. I was prepared for 50% loss nort total. Will see. On to the next trade, and pray that management are not crooks..
did you get the day old fish at .77? that would have been the buy.
if you look at the MACD pattern we looked to have double bottomed ( once at 1.30 and .77 ) The 1.30 caused a bounce to 1.50. Even if EGMI is continue the downward pattern, we should still bounce to $1 just on the correction. What will determine if we continue on the downward path or retrace from our massive downturn will be determined by fundamentals ( conference call will give a better reference to what the fundamentals are ) So my guess is that we will be $1 before conference call. I am refraining from being greedy and trying to forget the past trades of egmi and just focus on NOW and looking at the likely out comes and the risk associated with it. GLTA
I like what kevin brings to the table in terms of initiating business development. Any company would be lucky to have Kevin on the team, just not as a CEO. EGMI desparetly needs an operations guy. I think the best solution would be to add a COO, that can keep the machine running while Kevin and sales crew can focus on cutting deals. Egmi is nothing without deals, egmi is nothing without execution. We need both. Why would you give up one if you already got one. Just cus you want an escapecoat that will temporarily raise the price of the stock to make investors happy? maybe that will work out. I am just saying don't throw the baby out with the bathwater.
you are never too old to learn. don't take your loss as that you are incapable. just that there are things to learn. I lost 25% of my value porfolio from dec to end of jan. I reset my portfolio and focused on technicals instead of being a gold bull. I heavily margined in jan 29th because the diverence in gold was almost the same as the 2008 crash. I got back 15% of the 25% I lost in two weeks. I also learned more in those two weeks than I did in the last 5 five years. because the pain of the 25% loss made me dig deep and learn TA. it also made me more commited to TA than the news. Fundamentals is needed to pick a stock. TA is my guide in how to balance the holding.
don't give up! Step UP!
Looks like we are back in business. Gap filled. Let's see if we can get the macd to cross.
no right now I am trading on number don't care what anyones says now. I am turning out 90% what people are saying and just focusing on TA. TA is your friend weather in good time or bad. I love you TA, and I think it loves me too :)
I am almost certain we will bottom and be on the rise before conference call. no just keep going down til conference call.
even if it egmi where to go down to .50 egmi would rebound before then. I am thinking that tomorrow or friday would be the bottom. If last dip lasted eight day. we are on day eight on this dip so we should at least retrace to about $1 even if are still on the decline in the weekly. focus on numbers instead of all the talking heads. weather it is fundamentals or TA.
we gapped down today so we if volume drops then we should fill the gap. the macd and slow divergence has not decrease so probably more downside but we are near bottom. at these time i tune out everything and just look at TA. GLTA.
The egmi MACD and Slow are oversold but not ready to cross positive. There is a chance that it can turn positive end of the week. Just what I see far as momentum. intuitively I would think .80 is pretty much rock bottom, and there is much more room to go up than down. I will add when I see macd cross since I am holding 70% sold a little more today to get more svm. ( but now i am maxed on my metal purchase and will look to unload thursday or friday. Unless the HUI macd is not ready to cross negative. will see.
capitulation has already happened in my opinion. egmi should have shed all week hands including my 30% of my hand. ha ha.. will see if my swap tactics works or not but it is a better technical move in my novice ta opinion.
you can focus on the ideal way management should do things from your vantage point but have you considered their vantage point and why they would do such things instead of just labeling that they are bone heads. does labeling them bonehead help you in any way. only way it would help you is if they are bone heads and you sell, and that you were correct in that label and price of stock remains low when you sell. I just find this way of thinking fruitful. thinking should lead somewhere no, not just vent because of emotion without thought of what the effects. just ask yourself what are you gaining and what are you losing in your approach to this situation. don't what to be an know it all, i am just trying to present a productive discussion that we all can benefit from.
whine whine whine, bitch bitch bitch, whine whine whine
i wonder why the stock keeps going down, oh well. guess all i can do is ..
whine whine whine, bitch bitch bitch, whine whine whine
I don't mean to be an AZZZ but really how does just venting help. If you have a case for action then please explain your reasoning and what course you recommend for investors to take. but just saying management needs to get their shizzz together is not helpful to the stock price of egmi.
I lightened up 20% today to move it into svm that is going nuts ( silver was in a very good position to rally this week ). I intend to buy back shares before the conference call as I expect metal rally to finish friday. I had 15% of my investment in egmi I thought it prudent at this time move take advantage of the metal rally. Their are choices out there, including just holing. It your choice make it, don't be a victim. Make your future.
Heartmed, I emplore you to checkout goldtrends.net, and check out the ego yahoo board. If you learn to trade gold miners you will vastly improve your cycle trading skills. Metals cycle is very consistant.
good summary of the situation and analysis of cause of delay in conference call. What about a buy out by chinalot. Is that a reason to go radio silence to the point of obserdity. Yah out of nowhere theory but that is what is behind the curtain. something we never expected. What if chinalot realized how much they will be paying out to egmi over the years and decide it would be better to buy them out. the flip side is that this was the plan and it fell through. who knows, as the previous post states nothing we know is a likely explanation for the current status. All longs as well as Lord Steinberg thought very highly of the management four months ago , I am the opinion we were not wrong in our original opinion.
Pontiac, My gold and silver stocks is up about 12% since last friday. I am targeting about 25% with a high on tueday then probably down as well as the broad market. I have 90% miners 10% pennies I think you should consider doing 10% miners. TA is voodoo if you don't study it. It has a learning curve so I have been following these TA sights.
www.Goldtrends.com ( gold )
www.optionaddict.net ( s&p )
evilspeculator.com ( shorts )
Once you learn how to understand their analysis it is a powerful weapon.
also check out this article on Math genious kicking wall streets azzzzz.
http://finance.yahoo.com/tech-ticker/revenge-of-the-nerds:-the-new-masters-of-the-wall-street-universe-423103.html
Nerds, rule!
So why so afraid of sharks pontiac it's media that hype up shark attacks, driving and flying is way way more dangerous. On the chance that a shark does bight your arm off you should not let that stop you. You hear about the one armed professional female surfer? Once a seals have tried to climb on my board, they just play though, I see dolfins about 30% of the time I go out. It's awsome to ride a wave next to a dolfin, just awsome...
It's nice to see more substancetive discussions on this board. Seams like investors are showing up at these levels. I remember when I first got in egmi the discussions were way more in depth on business development hope is happens again it maybe a sign that $2 is coming.
I realy don't think it matter if poken is dead or not it is still a long shot with even with a contract if fact the fad could die and we are out money. I don't like poken, for me it is all about lotto cards. Pontiac I think its time for my chinalot chant. If so into poken find away to invest in poken directly or become a reseller
close my eyes and plug my ears and keep saying " chinalot, chinalot, chinalot........"
it's funny how great egmi is some respects and other times just boggles the mind. I heard that the old regime lost out on the michigan state lottery cus they could not produce the inventory. Anyhow downside to 70 cent vs fair market of 2.10 pretty good odds.
bally and chinalot together I like the sound of that. thats good gofer digging. Pontiac. I say we put this rumor out there and see what happens.
I can see how there can be missteps in sealing the deal like chinalot, bally, and poken.
But how is it that they have not set the board members and CFO? really puzzling. the management seams pretty smart in my opinion. But how do administrative issues drag on for two months. not cool but, I am giving them the benefit of the doubt cus ian who has way closer ties than anyone on this board is not giving up on them. and I don't want to make an investment decision on guess work. this situation sucks right now. it may remain sucky or egmi goes to $2 bucks. My guess is unless they explode they will be back to $2 in six months. but what the hell do I know, I am just gambling like everyone else here. woohoo...
haha don't mean to laugh at your marital misery but that was funny.
Yah I am going to just hold what I got. I am out of bait for egmi. you must have a worm farm. The thing of about gold is that you can make money even if the market goes down cus it runs on a cycle and Boat and AC has been helping me navigate the Technical Analysis. Actually trading gold and silver has made a much better trader cus I am getting better at TA. boat is a genious at TA. Anyhow I know you like your pennies cus of your intelligence gathering skills. Maybe we should all pitch in and hire a spy togo find out what kind of circus they are running EGMI. just kidding.. not really..
nice pontiac fishing on a rainy day I see some times that's when you catch the biggest fish.
I surf, and do ocean kayaking, learned through just doing over and over with alot of wipeouts but minimal damage a couple stitches when a novice surfer hit me in the head. white water kayaking requires training and protective gear. When I joined egmi I thought I was learning how to surf, apparently I am white water kayaking. Just means the learning curve got steeper but that is an opportunity to step up or a good learning experience.
Only way to loose is if choose to walk away and blame it on someone else. Own your decisions and learn that is all you can do. In the end you will be better for it win or loss of $.
Pontiac you in gold? I have 50% margin with gold miner currently ( with tight stop loss ) I bought on fridays dip and it has build momentum since. Pennies should have bounce too.
Pontiac,
I feel like I am on a flush draw on the river. fold, check or raise.
I will check and wonder what that business deal they are trying to close. hum.. man of man I hope it is chinalot. but that is wishful thinking. probably a smaller deal, but we are in the cone of silence... cue get well smart theme music.
For all poken hopefuls notice how poken is at the bottom of ian's list of concerns.
heartmed you only have egmi? if you want medium risk buy gold miners.
check out http://www.goldtrends.net/
to monitor cycles, gold is very cyclical. EGO is a pretty good gold miner.
EGMI is totally insane. Will see if in a good way or bad. You just have to laugh at this point.
I read an article last night that with drawls for UBS went to 40 bil instead of 27 bil in Q4. People are scared in europe. There are lot of pennies that have had a 50% haircut with issues of cfo and loosing a key investor. Tomorrow is the big day and we will have a better view of the situation. I am going on the strong numbers and fear that drove the market down.
My only concern is how the transition of the old to new management is working. I am not claiming that they are idiots or faulting them for the fall in stock price, just is it a good fit or not. But the issue of management mistakes are priced in.
We all should take responsibility for our investments. No one forced you to buy, no forced you to keep your shares. The fact that we invest in penny stock means we are a greedy bastards. Own it, and Own it's risk. Knowing that may help your decision making. We kept our shares because we believe that the stock will go up more than we believe the stock goes down, that is the core of the situation no one else is responsible for that decision. High rewards has high cost. High rewards for low cost is a rarity.
Pontiac we have had some ride on the this puppy. Your suggestion that egmi investment maybe a story to tell your friends about is probably going to become true. Will see which way the story will end. lesson learned either way. Good luck Pontiac, your one cool dude.
Heartmed and others on this board can we stick to fundamentals of the company. and our business opportunities. I feel that we are playing into all the madness when we are fixated on side issues rather than the core issues of CFO, Board, Q4 earnings, US lotto card License, Bally and Chinalot. In my opinion poken should not be considered it is not part of the core business it was worth a shot but there is way too much unknown.
oops I think I am a pumper cus I misread the jaywalk report through my egmi bullish lense. They upgrade to buy today with a rating of 2.40 not target price of 2.40
Jaywalk concensus report is on my Ameritrade account. It is copy righted. not sure how else to get the report unless you got ameritrade.
GLTA
jaywalk upgraded egmi with target at 2.40 woohoo
the yahoo egmi board is ridiculous. One of the hedge monkey imitated my ID and then started posting on EGO board that I post at too. amazing these low lives.
Anyhow I am sticking with fundamentals. I really think people are over reacting to Poken. I always saw it as a long shot and it has not been factored into any guidance numbers. In my opinion we should be talking about the US lotto card License that about to expire. We set that up right it is money in the bank. We set up Chinalot and that is money in the bank. Lottery is an established market with numbers you can count on. Poken requires a fad to catch on. It will work or it may not but you don't count on it and egmi management has not counted on it cus they have not put in into the books. All management needs to do is deliver what they promised and we are back to 2.10. Nice repost of the Q3 Conference call. My guess on the sell off is that Lord Steinberg probably influenced other rich cats in england to invest in egmi and they got spooked. Who the heck knows but that has nothing todo with if egmi will deliver the year end numbers. Are people realy betting that egmi lied when they reiterated q4 numbers or that the market is going to tank to give us a pe of 8-10. Sorry togo on a rampage but now I feel better....
nice looking chart
www.optionaddict.net/blog/2010/2/4/mind-the-mcclellan.html
EGMI earning .14 will and hopeful market pe 15 will get us to $2.1
Check out this nice looking chart. I think the market will do as the chart says and egmi will deliver earning as stated.
Merriman and Roth will raise capital with new numbers.