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Yeah, I kinda figured that, like I said in my post, it was for a small amount as well, about 150 bucks. I'm gonna try and get into MRXT tommorrow. My shell collection is up to 18 now. Just a hundred to three hundred per shell. It only takes one though. Also, I think shells plays are pretty good investments if you have patience. Most go for a thousand percent or more, so lets say you have a shell for ten years. That's still a hundred percent a year averaged out. Of course they are boring as hell. I read somewhere PDC has over 200 of them. I wonder how many runners he has had.
Making money off the spread. Soemthing I did Friday that may become a side shell strategy. Some of the spreads on these shells are ridiculous as we all know, well On IMTR the spread was .0009 X .0019 and it was trading on that spread sporadically througout the day. I managed to buy at the bid and sell at the ask. Not a huge amount, but 100% nonetheless. Just wondering if I could do this with more than one shell, if it was worth the effort. Any thoughts?
90% of the volume was on the way up, then it got walked down on mostly 5K blocks. Wonder if our buyer will be back this afternoon.
Looks like the float is gone, moving up on LOW volume, too bad they shook me for half my shares last week.
I got into IMTR at .0015, here's to hoping it runs. Volume looks like it's picking up.
I got in, but they only gave me a partial for 30K at .0036. Was trying for 50K. We'll see where it goes. When they filled me a couple days ago, I WAS the volume for the day.
Yeah, this one is giving me ulcers, even though I'm riding freebies. I got out of CSHD with a great profit and only kept 100 free shares, but they aren't worth anything now. I've never seen a reverse merger play take so long before news or filings were released. There is no doubt that somebody is throwing lots of money at this, so I guess I'll just stick it out and start buying bigger bottles of Pepto.
What the hell bought a measley 6k shares, after the R/S I'll only have 200. Just wondering what will happen. Only 500k shares post split this should move quickly if it gets interest.
Yeah, CNGG. Wonder if soemthings cookin.
What's up with CCNG, I got a partial of 30K a couple days ago and my buy was ALL the volume. Up 31 percent on 355K volume.
B/A .004 X .007.
Yeah them bastards shook me for half my shares. Oh well, still have 30K freebies and my initial 500 bones is now 3000. Can't complain too much.
Well they shook me for some, but not all. Hoping for the best.
I got into AWYI yesterday, lucky me. Wished I would hav got more than a parial.
Usually after a dime, it moves up in penny increments, or at least half penny. With 55K shares still left, thats 550 bones a tick if it ticks a penny at a time. I'm loving it.
RTGV still heading up, where she stops, nobody knows...still no news or filings.
If they are a year old, you should have made a ten bagger by now, I bought mine in March for .006
Gotta love this, the bid this morning is yesterday's close. This think gaps up every morning, then never gets lower than the previous day's close. Real easy to stay in when it does that. Still waiting on merger news. If that comes, this thing should pop. Lower volume suggests that whoever is buying is almost done, and doesn't want to spend more than he has to, maybe the time is near,
Keep trying, I did manage to get in AWYI, that was my buy at .004, unfortunately, it was only a partial. I guess I'll have to take it.
QUESTION FOR SHELL TRADERS:
I got killed on partials today, when trading shells, should you do an AON on the bid? I got a couple partials today, then the bid/ask moved and I never got filled for the rest, now the rest of my orders are expired. Means I have to pay a commission to buy again, or for you guys that use scottrade, If I put a GTC, will it carry over to the next day? Reading scottrade, I don't think it does.
CNGG, My buy of 30K was all the volume. And only a partial fill as well. Also, AVCP, Had a buy order for 60K on the bid, the bastards gave me a partial of only 10K.......Question for shell traders, should you do an AON at the bid, partials will kill you on commissions when they up the bid/ask right after filling you.
We'll see what this week brings. I know from Friday it has huge support at this range. Notice that when this thing gaps up, it drops to fill the gap but never goes under the previous close. Gotta love that.
I agree, I have never averaged down on a penny stock, however I have played bounces using T/A to confirm a reversal. The stock in your article wasn't a penny, that's why I posted the way I did. As for T/A working in the penny market, that's a hot debate. I think they do (not in the case of shells/mergers), but if you think about it, charts are lagging indicators that tell you what has already happened, the chart reader then uses the history to predict the future. Since most charts follow a pattern of some sort, then chartist will recognize them and call it. Some indicators I think are self fullfilling. I.E. The golden cross. A lot of people will jump into a stock when a golden cross happens. Does the fact they are jumping in drive up the PPS? I think so. Just something to think about.
This article shows that most investors don't know how to bottom fish. When bottom fishing you have to look for confirmation signs of a reversal, a good bottom fisher would have made $$ (9.66 to 16) on the stock in this article (That's not me though, I'm OK at bottom fishing, but nothing to brag about). Also, when you believe in a companies fundamentals, you would be averaging down the whole way, waiting for the bounce. I normally don't do this, but have a few times in the past (not with pennies though).
The best site I know of that will teach you how to read charts is babypips.com. It's geared for currency trading but charts are charts T/A is T/A. Same indicators, patterns, etc. Real good chapter on candlesticks and chart patterns, also money management.
Everyone is a "newbie" at some point. I've been INVESTING for years on the big boards making 5-10 percent a year. Investing by following expert advice and not even knowing how the markets work, couldn't even read a chart. Then around christmas 2005, I opened a SCOTTRADE account with 650 bucks and started TRADING pennies as a hobby and to learn how the markets work. I'm at 5400 bucks now (not for the first time, it's been a rocky ride. Lost a lot on FMLY and SLJB). I can read a chart at a glance, I can understand most SEC filings and within 15 minutes of DD (research) of any company, I'll know whether to continue or move onto the next. The best part is that I learned it from experienced traders on message boards like this one for free.
"Average up" LOL, you mean chase?
Yeah, the float for (RTGV) is 40 mil with an AS of 100 mil. There was a rumor of an R/M back in FEB 2006, and it spiked then dropped as nothing happened. The board members were replaced and the company said it was going forward to find a merger candidate. I was stuck with 77K shares averaged at .006, so I just stuck it out. The damn thing is at .06 WITH NO NEWS OR FILINGS. Large blocks were being bought up making several support levels, so anyway, I sold 22K shares at a nickel doubling my 500 bucks and have 55K waiting to see what happens.
RTGV has a float of 40 mil, AS of 100 mil. Great board.
sideways trading on a lot of volume, looks like some sellers today, hope news breaks.
I tried waiting until a nickel, but I couldn't. I sold 12K shares to get my 500 bucks back, but still have 65K shares. Let's see where it goes.
Gapping up this morning, still have my 77K shares from March, if it hits a nickel, think I'll get my 500 bucks back and see what happens with the other 67K shares.
Damn, I've got 77500 shares averaged at .0066 since last march, I knew I should have been averaging down.
I'm on freebies, but had to sell to catch the bounce on SLJB, got in at .02 and back out at .04, now I have more to put into GOIH. I am pleasantly suprised to see the dip. Now I can get more, I sold at .0681 this morning.
Like your pic, GLTA, my only regret is selling 2/3rds of my shares that I bought at .008 for .02. I've been watching a lot of big gains turn into small ones for too long, so I've been getting profit early and riding freebies. I KNEW this sucker was gonna hit at least a nickel, but didn't stick it out. Oh well, I'm still in for the long haul with my freebies now. I said in an earlier post, I was waiting for a dime, now I'm reconsidering. Dime, Quarter, Divvies, Dollar who knows?
LET'S KEEP SCORE AGAIN:
ODCY NOW AT 2.70
WLHO NOW AT 8.50
SPSI NOW AT 4.00
CIRC NOT TRADING YET
NTTE, THINK IT'S PLRO NOW, IT'S STILL AT .501
ODYC trading at 2.10
WLHO trading at 7.00
SPSI trading at 3.35
CIRC not trading yet
NTTE trading at 1.255
Let's see how this goes.
GLTA
OK LET'S SEE ABOUT AN UPDATE.
ODYC NOW AT 2.45
WLHO NOW AT 7.25
SPSI NOW AT 4.15
CIRC STILL NOT TRADING
NTTE DOESN'T SHOW, THINK IT SWITCHED TO PLRO NOW AT .501
2400 bucks went into this today. When we get in the tens of millions of shares, it's all over. What I did like, is the fact that .007 was taken out with no volume. Shares are short, and it's nice to be in the green on this one for a change. I think when we do get attention, it'll be a short ride to at least .015, then a steady crawl to nickel range. Unless they merge with an awesome company, then who knows, LFZA type run (I can only hope).
Looks like something may be up. .008 now. Need some volume and this thing is gonna pop.
He's been there for a while and hasn't got filled. I kinda feel sorry for him, can I like call him and sell some shares in a private transaction?
I prefer the expression, "Close your cock-holster."
I've had a GTC order to sell my measley 1 mil shares for weeks, maybe months. If it didn't sustain a run in July, I doubt if it can sustain one later, not with an O/S of 80 Bil.
I'm done for the weekend, I'm gonna list my picks (some of which the news is a week old), and see how they do next week.
ODYC trading at 2.10
WLHO trading at 7.00
SPSI trading at 3.35
CIRC not trading yet
NTTE trading at 1.255
Let's see how this goes.
GLTA
OK LET'S SEE ABOUT AN UPDATE.
ODYC NOW AT 2.45
WLHO NOW AT 7.25
SPSI NOW AT 4.15
CIRC STILL NOT TRADING
NTTE DOESN'T SHOW, THINK IT SWITCHED TO PLRO NOW AT .501
WELL, IT DIDN'T GO TO BAD...NO TEN BAGGERS, BUT YOU WOULD HAVE BEEN UP.