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unloaded some at 0.02 a while back, now have my remaining shares offered for 0.01, hoping the rally in gold might might it happen, but probably not...
i have not an idea why it popped to half a cent yesterday... when it hit 0.0001 three weeks ago i figured it would stay there...
just a dream, was pretty good dream though, all of us here were celebrating huge profits beyond our wildest expectations! he!... :)
ya, i also take some consolation from Jesse Livermore at the moment, he lost his fortunes more than once, but he carried on and is remembered for his successes :)
hey :) ya, guess i should be glad to have sold a few at 2 cents. still have most of them now valued at .003, i mean 002... he.... had dream last night that there was a surprise takeover bid and the stock shot to 1.40, gosh i was not happy to wake up! :)
yup. might as well take the lesson and move on. just bugs me, cause i got to the position to large where the down side was not acceptable to me, and i should not have been there :)
glad i'm not alone, don't mean to rub salt into the wounds :) ...
glad i'm not alone, don't mean to rub salt into the wounds :) ...
sold 3 more shares at 2 cents, bizarre :)
it's too late for me, i curse myself for averaging down just before this BK news hit
only partly successful, but i think i will modify the order and maybe offer the remainder for a bit higher bid... not much to loose at this point :)
yes, 4000 sold at .02, but i was offering 20000
i just at a partial fill at 2 cents, only about 1/4 of them i had offered
i see some trades have gone through, last trade .02, i still have no bid/ask info though
here in Canada it was halted at 9 cents, but was then de-listed from the TSX all together, my broker told me i could follow it on the US side over the counter market, but as far as i can see i'm following a stock with little vale :) i don't think this is the usual stuff, i guess some traders trade a lifetime and don't get stuck with this shite! :)
i think this forum should have a like button :) i made two good trades on it, started to think i could not loose, but those penny stocks are addictive when you see the profit go up %30 in ten minutes that is when they go to zero i guess... :)
i did read a lot about it, and also thought they had perhaps hit bottom, could have even taken an exit with profit a couple of times, and yet i decide to wait even though there was writing on the wall i guess, with the lay offs and the poor grades but this seemed to be part of a restring BUT i must say there was no mention of chapter 11 (just restructuring and sales of assets etc) in any their reports until the actual filling of it, but in hind sight i guess i should have known what they were doing
i try to make myself feel better, maybe i did learn a thing, but i must still hang my head in shame :( i really did know better, i was overcome with excessive optimism and wound up being the fool :(
if there is any upside to this, after this horrible trade i went and made some defensive adjustments to my portfolio which have turned out to be a very good thing so far :)
i've read many times about the risks of trading this kind of situation, a stock under a dollar and a questionable future, but somehow i did not learn the lesson, i have learned it now that is for sure :)
this is now a problem in physics, how close to zero can we get without actually hitting zero?
oh! this is no doubt my worst trade ever. i will pay somebody $10 to please take this away! :(
if they were to announce an unexpected increase in the gold produced at Pan i expect that would happen after coming out of chapter 11
i was trading MDW in on the TSX, i've since had it journaled over to MDWCQ on with hopes for some over the counter trade on the US side, but by the time all the paper work was done, MDWCQ stopped also, not many options left from here...
Pagaso i do feel a bit hoodwinked by this outfit, they published optimistic plans for restructuring and did not mention that chapter 11 was part of it, clearly as many have pointed out, if there were value left there should not be a chapter 11 :)
it might be that there is no action we can take until things are settled and Midway "Emerges" from the legal process as either a new or non existent company, and then there is probably small hope of the common shares being given any value -- but i'm keeping an eye out cause if there is a chance to recover a bit of it i'd like to be there :)
me neither, some if it is beyond my wildest imaginings :) .... it was listed for me under PINX last week, but i see it has since changed to PINX-GM :) what ever it means i probably does not help us much at this point, but it's good to know i guess :)
hardtogetnewalias i had not noticed, but i see that on my platform now... thanks!
steamed_turtle that is very close to my story on this trade. was NOT my plan to trade a bankrupt stock. about half of my loss was gain from trades on this same stock (which went well), and the remain half from other trades this YTD -- no matter how i cut it, it sets me back six months -- but at least i did not wipe out my trading account and live to trade again with more experience on bankruptcy proceedings :) lol....
yup. me too it seems :) oh well... lessons learned... and i suppose miracles do happen from time to time :)
from what i understand they could dump Pan and the existing shares, then emerge out of a chapter 13 issuing a new set of shares on the more profitable reserves, those might turn out to have value, except they would not be ours, they would belong to the senior lenders for the most part
100K shares, ouch! i'm holding 20K. started with 10 and then doubled down, so i lost a couple of grand almost for sure
looks as if it will be up to the courts over the next months to decide what if any value is given back to the common shares
i'm not too hopeful, even if the fair value estimates are correct the legal expenses will chew up few millions that are left
but i learned a LOT from this trade, several mistakes and errors in judgement i will NOT be making again any time soon! :)
my broker has been responsive, i have the thing sitting on my platform ready to sell on PINX if it ever starts to move, last trade .017 no bid or offer or volume yet -- maybe never, or maybe so lo it's not with the trade fees... who knows... maybe the moon :).. lol...
ya... things take longer and longer the closer you get to canada's east coast.. :) lol... i must say i will be paying more attention to the short interest in the future :)O
chewing my nails like everyone else here - i've not been told why a company which has a successfully negotiated a restructuring plan with it's lenders would file a chapter 11 unless it want's to make dumping the old stock part of the 'plan', i sure hope i am wrong... :)
ya, if these things are in fact done to protect me, "the investor", then they fail to do that job for sure! the stock dropped to nothing before any haulting was done anywhere when by rights all the issues including the Pan failure, lay-offs, restructuring and possible insolvency were priced in at seven cents :) at least that is my 2 cents :)
as a shareholder i feel very much in the dark about the whole 'restructuring plan' but i would at this point guess that they are leaching the remaining stuff they dug up at Pan then declaiming a chapter 7 and giving the undeveloped properties over to the lenders leaving me with nothing :) when it halted on the tsx it started over the counter for a short time so i requested my shares journalled over from the canadian side to MDWCQ, just in case there is some slim chance of recovering a small percentage, but by then trading had stopped there too -- i would like to be very wrong about their intentions, but i'm very worried i'm not :)
the OTC trade was stopped with code U1 because it was halted on the TSX which is considered a "major foreign exchange", typically that is a 10 day halt, but there is no guarantee it will continue, it could be permanently de-listed on the OTC for a number of reasons, including if the company converts to a chapter 7, i am holding some if it with very faint hopes of getting a small bit out of it