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Ouch...
Pennystockplayer, I understand exactly where your coming from. I was in the same situation because I wasn't educated on exit strategies. Had I known more about this subject, I would have sold back at .08-.10 range. In my opinion, don't chase a stock down while in the process of selling. I was lucky enough to realize a couple of months ago to cut my losses and move on. I learned from my experience and have for now on decided to put together a exit strategy before I buy stocks in the future. Both for when the stock goes up or down, to minimize loss and lock in profits. Cut your loss while you still can. Though choose what investment strategy is best for yourself. I easily see this stock going sub penny if earning are not what shareholders hope.
Good luck!
Pennystockplayer, I would agree, nor would I be surprised.
Pennystockplayer, even Microsoft is involved in a class action lawsuit. Shareholders Vs. Microsoft
http://blogs.seattletimes.com/microsoftpri0/2013/08/13/class-action-lawsuit-filed-against-microsoft-over-surface-rt/
SEC in regards to class action lawsuits.
http://www.sec.gov/answers/class.htm
Often a class action is the only way to hold a corporation responsible for illegal behavior that affects many people.
Pennystockplayer, I believe you are correct. Most end with settlements. Someone who has an attorney who specializes on class action lawsuits, specifically securities fraud. Once this step is done, the trial has to be approved.
Pennystockplayer, I hope I'm wrong on the estimate I made as well. As I stated in the last post I made here, I'm a novice when it comes to financial reports. It's something I would like to learn more about in the future. On that note, I'm not familiar with what is required to be filed. Though if your correct about change of principle directors required to be filed, more specifically the resignation of Mr. Geiges then this is wrong. Should this be reported to the SEC, I agree.
nsomniyak, thanks for sharing. Was NLEF's situation better or worse than ESPI's situation?
Pennystockplayer, in regards to NT 10-Q. I am surprised Mr. Dugas took this route. If you look in ESPI's past history, Mr. Dugas had chosen this route on November 15th of 2012. The following day Mr. Dugas released the 10-Q. At the time I felt that if it was in ESPI's best interest, then it was necessary. This was following the quarter at which ESPI was involved in the lawsuit. As for today's NT 10-Q, I feel Mr. Dugas chose this route to simply, buy him time. I would very understand, if this occurred towards the end of the financial quarterly ending June, 30th of 2013. Mr. Dugas had plenty of time to prepare. If ESPI repeats their past history, the 10-Q should be released the following day that the NT 10-Q was released, in other wards it could be released August 15th of 2013.
Pennystockplayer, I can't remember what exactly last quarter's financials were. Though when I get home tonight, I'll be sure to take a glance and give my estimation.
Pennystockplayer, I believe that if ESPI doesn't put out a press release showing growth the day before financials are released, shareholders are in a serious problem. This is just an assumption, because ESPI has usually shown the numbers as such in the past.
Even though I sold all shares after the last quarter, I'm still interested to see how things pan out.
bigduke, I respect your due diligence and agree with all except one point. I believe BAC should be trading higher than the 18.78 PPS.
One thing is for certain. There is money to be made here with BAC, as it is very undervalued.
cintrix, I bought the book and I would greatly appreciate it. Thanks
cintrix, thank-you! There is a location nearby that has the book. I will try to pick myself up a copy sometime tonight after rush hour traffic. When I do get the book and have questions. Should I speak to you, or do you recommend another board to get help? I obviously trust your advice because I keep bugging you.
cintrix, I have decided to learn in the area of technical analysis. I found this page and looked over bits and pieces of it. http://www.investopedia.com/university/technical/techanalysis8.asp
Because this is my first time learning about technicals, I am very confused. Though that is to be expected. I don't know where to begin. I have never used a stock simulator, as I begun value investing with real capital. I was curious as to what stock simulator you recommend. Do you recommend I read more resources, if so do you have any that you recommend? Or do you recommend I go into a stock simulator and get my feet wet?
cixtrix, so I would like to increase my knowledge about the stock market. This far I have learned about value investing and exit strategies. What do you recommend I learn next?
cintrix, although I'm not the greedy type, I am a new investor and want to be sure I lock in gains when I can. Thanks again for helping me understand.
cintix, I'll be sure to ask. Which is your preference, trailing stop order on a % bases or $ bases?
cintix, I'm sorry. That's the term I was meaning to use. If anyone does so, are they guaranteed that this order method will sell their stock?
cintrix, after doing research, I want to be sure I correctly understand the stop loss method.
For example, (XYZ) is up 30% or $9 since I have bought this stock. The price of this stock is at $30 per share. Despite (XYZ) still showing a strong positive trend, I want to lock in any current gains. Though I would still like to "milk the cow" so to speak. In this case I choose the stop loss method.
I choose a stop loss based on %. I choose to make the stop loss 3% at $30. If (XYZ) dips below 3% or $28.20 the stock will be sold.
(XYZ) trends upward: The stock raises 6% since placing the order to $31.80. At this point, the stock will be sold at $30.90 if it moves under this point. Essentially, the 3% buffer if you will has rose and will lock in a 3% gain for a total of 33% gain.
This time I choose a stop loss based on $. I choose to make the stop loss $1. If (XYZ) dips below $1, the stock will be sold at $29.
(XYZ) trends upward: The stock raises $1 since placing the order to $31. At this point, the stock will be sold at $30 if it moves under this point. Essentially, the $1 buffer if you will has rose and will lock in a $1 gain for a total of $10 gain.
Do I understand correctly?
Thanks, Gulley
jeagerboy, thanks for the laugh! I'll have to use that one sometime!
I haven't stopped by in over a month. Would have thought there would have been some news! Hah, I was wrong on that note. The old saying, "No news is good news." That logic doesn't apply here. No news is bad news, would be appropriate.
Good luck!
KING_TRADER$, I agree. I'm an anti-Wal-mart, so I don't give them my business. I don't like this company because of how they treat their employee's. I think they have terrible customer service. I could go on and on. The point is, if I don't like a company as a consumer outside of investing, I would never let that effect me. Meaning, if I saw Wal-Mart as a good investment. I would not let that effect my decision of weather I should invest. I'm here to make money, leave your emotions at the door. Couldn't agree with you more.
cintrix,
Lowjack, will do! Thank-you very much! Just wondering, what are some of the ways someone could get screwed when investing in their retirement?
cixtrix,
cixtrix,
cintrix,
Lowjack, where can I find FDIC rules and what are SPIC rules and where can I find them? More importantly why should I read these rules? Is a Roth more difficult to understand?
You must be kidding about the last part, haha?
Sorry about the late response. I have been busy with school.
Gulley
itsonlymuni, thank-you for your advice. Sorry, I have been busy with school. If you would like to join the conversation and offer your insight, I would greatly appreciate it.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90534899
Thanks
lowtrade, sorry for the late response. I have been busy with school. Thank-you for those encouraging words, I appreciate it.
cixtrix, sorry I have been very busy with school. A few weeks ago I received a booklet full of information including rules, regulations, investment advice and the investments that are available for me. Last night I read the booklet from front to back and did some reading about saving for retirement. I was foolish to believe that I am too young to start saving for retirement. In fact I am grateful to be given this opportunity from my employer.
I want to be able to live comfortable and have financial freedom when I retire. Even more so, because I believe my generation will not have social security that I will have paid into all of my life. So I am excited to start saving for retirement. Plus my employer matches what I put in to the fund. Which is even more of a reason to take advantage of this offer.
KING_TRADER$, thank-you.
Does anyone have a good AIG and BAC lawsuit article that includes from when it began to the current situation? Meaning, how it started and the timeline since then.
Thanks, Gulley
Great little run today!
ignorebad, Dugas has though.
nemo_bad, they confirmed that the Fed is no longer buying bonds?
elanfox, it seems you have lost your shirt. Get out while you still have your shorts, socks and shoes. It looks like me and a couple of others here got out, right on time.
IMO
Good luck fox, Gulley
cintrix,
"Did your company give you the names of any financial advisers who manage their 401k? Most of them get paid through the actual fees from the investments. I know when my daughter got her job there was about three or four different companies she could invest in and she called one of those guys and went with him and he allocated her weekly contributions."
I was not given this information. My employers tend to lack in providing employes with knowledge about benefits. I will be sure to ask at work today.
cintrix,
"Your 401k should give you a list of what funds you can invest in - do that - put them in mutual funds - don't try and trade them yourself."
I don't plan to trade my financial benefits from my employer. I wasn't aware trading mutual funds was possible or profitable. I was under the impression I would distribute a fixed income each paycheck that would go towards that investment(s).
"If you want to trade, then do that on the side with other money. Not with your 401k money. I am really not sure what you are talking about when you say I plan to keep 401k investments separate from stock investments - if you are in mutual funds, a good deal of them are stock funds. Some are bonds, but those are the more conservative funds and you are young so I would suggest you put more in the stock funds. Maybe you mean your trading account. That is fine. Put whatever you can afford to lose in that and trade and get a feel for it and you can even compare how well you are doing vs your 401k."
I'm sorry for not being clear. I meant keeping employee financial benefits separate from trading benefits. Good idea about coming the two investments though.
"Usually when a company allows employees to buy stock at a cheaper price there are restrictions on when you can cash them. Some companies do matches - say for every 20 you buy they give you 5 - but you usually have to wait until they are vested to sell - probably every company has their own time period."
I'll be sure to ask my employer today at work.
Usually when a company has a savings plan they have a representative you can talk to regarding how to allocate your money.
Because our company is small, but growing quickly. There is not human resources nearby. I would have to reach them over the phone.
"And please watch this: