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And again, I wish you well on your hope-based longterm hold.
But since you brought up numbers:
Instead of putting that same 10k in a stock (any stock) with the hope it'll go to the moon "in a few years",
Competently daytrade it over a year.
2019 has 252 trading days. Averaged out earning of $500/day is $126 000 of earnings in one year + your original 10k. If we average it out to two years, that's over a Quarter Million.
Far more likely than the "buy and hope for a few years" strategy. But that's Me.
GLTA.
This being $20 months or years from now is irrelevant to any of us. Except the longterm holders of course.
To them I wish good luck in that their hope-based trading works out for them.
GLTA
Glad I closed out my position yesterday in the low 1.60s with a small profit.
Lesson to the holders: This isn't the end for you. This is just a strong reminder to NEVER hold overnight. Always get in/get out. Repeat.
Great first-hand experience for you holders today. Nothing to be ashamed of.
I know some of you are 20k+ in the hole..., don't feel discouraged. Gather the remainder of your balance and become a sharpshooting trader: Get In/Get Out, Repeat. And pretty soon, you'll be 20k+ into the green.
GLTA.
Agreed.
I made a quick $140 off this stock in the morning, then ignored it.
In retrospect, I should have stayed longer. But who cares.
In retrospect all is always clear. Happy with My $140 take home pay off this stock today.
As of 3 weeks ago, OS were at ~20.5M....this week they jumped to 29M for some, & 34.38M for Me with My broker.
No doubt the actual OS count is much higher.
Probably 75M.
Company dumped into this pop and will now have one hell of a cash balance to make any necessary payments to themselves and others. Lol.
No wonder the 1.65 ceiling couldn't be broken through, it was made of honey & molasses!
To anyone still holding, I genuinely wish you best of luck for tomorrow.
To many of you holders, this has been a great reminder to never hold - always get in/out.
GLTA
~4.6M warrants to purchase at 1.75 and sell immediately in today's published offering.
So it's likely ~4.6M shares were bought at 1.75 and sold immediately between yesterday and early pre-market today for an immediate profit.
That definitely triggered a whole lot of stop-losses.
PROSPECTUS from 29 March 2019:
https://www.sec.gov/Archives/edgar/data/1659617/000114420419016728/0001144204-19-016728-index.htm
As of 3 weeks ago, the company has 75 Million authorized shares that they could unload onto us at their choosing. That's exactly what happened today. Ignore the 29M OS figure you see. It's much higher now. The updated OS will be reflected in the next filing.
If tomorrow ends up a nothingburger, than the company was smart to dump the hell out of their newly created outstanding shares today.
If tomorrow ends up genuine (unlikely), than the actors involved were not well coordinated and shortsold themselves and everyone else here prematurely.
You're welcome.
GLTA.
Decimus1, you seem like a good guy. I hope it works out for you.
But today's retardation at 1.65 proved to me the company was unloading new outstanding shares. The next filing will show a sharp increase from the 29M outstanding shares it shows now.
Sold when it couldn't successfully break 1.65 on its third try
Sold at 1.63 & again at 1.60 a few seconds ago...average sell is 1.61
Bought in at 1.57 6000 shares...$240 profit, at least its green
This stock is dead to me for the foreseeable future.
GLTA.
Holders from yesterday are highly motivated to let this run. Everything is on what happens between today and tomorrow.
Luckily for them, the trend is their friend. Just broke 1.65...so even if it doesn't run to 3+, it should still run to minimum 1.75-1.88 helping to win back hundreds if not thousands of dollars from their realized losses.
1.75-1.88 today looks very good..., many would not be surprised if it hits 2+...whatever happens, the best thing holders from yesterday should do is let this run between today and tomorrow morning.
GLTA
1.75-1.88 is today's target
Broke 1.65...We're headed to 1.75+ land next
1.63...the RUN UP BEGINS
Let's run this baby straight to 1.88!
Broke the 1.60 ceiling...ASK at 1.61
We're back in business baby! Run this hottie straight to 1.80!
You were a daring SoB...I had 1.40 on My screen live but chickened out and moved over to some other stocks I screened.
Came back here and it already bounced from 1.40 to 1.69 before consolidation at 1.57 before likely hitting 1.75-1.80 today
I like the cut of your style for going in when you did. My kind of trader.
Yeah, 1.75 target looks reasonable. Already bought here at 1.57
Struggling to break 1.60, the price of the offering. Heavy ceiling there.
Hah. You had a good day today you son of a b1tch!
I was lucky enough to set an order for 3000 shares at 4.75...but b1tched out when it came to pulling the trigger.
Saw it skyrocket a bit later, but Man ain't no chaser.
Enjoy your day!
I made my 80 bucks at open.
This stock is dead to Me now.
I have no idea what this company does. I have no interest in finding out. I'm here to make money. This stock happened to come up on My morning scan & fit My criteria for a profitable trade.
No pretension, no moralizing, no high horse riding here.
This is not a problem. This is a problem you've imagined. It doesn't exist as a problem. I am your liquidity.
Longterm holders, including you, need Me. I give you the ability to buy and sell along the pricechart. Without Me, you'd be holding physical share certificates asking neighbors if they'd like to buy certificates.
Now if this beloved company of yours goes down in flames, it isn't because of what I did or didn't do today. It's because of poor management by the company itself, or the rapidly changing industry it's building itself into.
That's all.
Good luck to you in your investments.
Made My ~$950 profit within the first 60 seconds of open.
This stock is done for today.
You seem like a good guy:
Buying with the intent to hold for 2 years is a terrible, absolutely terrible, worse than trash method. That goes for bluechip stocks too.
Buy/hold for 1-2 years = Strategy of Hope
A year ago, MGTI was roughly 1.70...today it's 6 cents. Two years ago, MGTI was roughly 75 cents, today it's 6 cents.
Vast majority of traders here are here to be profitable. It isn't cool to continually lose money, that's what will happen when you adopt the strategy you're recommending.
The most profitable strategy for most stocks is to get in on a catalyst, then get out within the day/hour/few minutes locking in the profit. And do that repeatedly.
You're welcome.
MGTI at 6 cents with BTC still above $5000.
Most BTC stocks are down though, but the Feb 28 filing is what destroyed this stock.
Premature dilution. The guys who run the company don't have any delayed gratification skills.
Letting this stock run to $3+ before diluting would have been the super smart thing to do. This stock had that ability. It's a former runner with a once small float.
Now it's float is slowly growing from 118M to 2.5B
There are bagholders here who are using this as a learning experience. And there are those who aren't:
Never hold. Always have a daily exit strategy, including cutting of losses. Never hold.
I got in the 10s & out in the 10s.
Halted? No trades in the past 5 minutes
Tried getting in, but there's no liquidity unless I use a terribly small position.
How much did you guys profit here this morning? Anyone lock in a thou or more?
Look at the bitcoin chart, it dropped from over $5400 to around $5000 where it's hovering right now.
In that same period, Grayscale Bitcoin Trust dropped from $7.39 to $6.60.
Do you really need anyone to explain to you why there hasn't yet been a dip buyback? Lol
Be in the game, man. Be in the game!
Not at all, actually.
This was a classic "buy the rumour, sell the news combined with BITCOIN dropping over $300 since yesterday.
Was meant to be a quick profitable trade.
Now we just got to estimate an entry on this dip!
I was busy slaving away at the dayjob this afternoon.
Totally missed everything leading up to the FEDERAL RESERVE MINUTES RELEASE
Damn. The trade of the quarter and I was busy at the dayjob making peanuts in comparison.
Oh well.
Tomorrow is another trading day.
MGTI Closes under 0.09, high was barely above 9 and it was as low as 7.5
BITCOIN is over 5300
MGTI AUTHORIZED 2.375 BILLION NEW SHARES (FEB 28 filing)...Total authorized shares 2.5 BILLION. The next filing will show outstanding shares have jumped from 118 Million to who knows how high.
That's the only explanation why this stock is stuck under 9 cents.
The question is, why would MGTI dilute so prematurely? If I were on their board, I'd have told the IT guys to wait until the stock hits dollar land before auto-diluting. They must be broke and desperate for cash at any shareprice smh lol
The spread on this stock means We can't even enter a short position right now.
Useless stock thanks to manbun.
My recommendation for Namaste bagholders is to snap out of your, "might as well hope for the best" attitudes and save the little bit of tied up capital you have left to recycle into some other stocks.
Good traffic in My neighborhood lol.
I'll keep tabs on this ticker for quick trades, but I don't see it going anywhere but down at this time: 2.375 BILLION NEW SHARES ISSUED
Posted at 9:52, did you jump time zones or did daylight savings time come early this year? Because you didn't make a double digit typo LMAO
I was gone just shy of 2 hours. And during those 2 hours if absence, I've saved myself from one hell of a RED DAY.
MGTI IS BEING DILUTED...that guy who pointed to the Feb 28 filing is right.
Outstanding shares soared from 125 MILLION to 2.5 BILLION
Disclaimer: I'm not shorting this stock. Just giving ya'll brotherly insight. We ought to have camaraderie of some sort around here.
Back from the doctor's appointment. Looking at MGTI now, THANK GOD I GOT THE BLEEP OUT. Damn. Would have been one hell of a red day had I left the trade open (Never use stop losses; always be at monitor)
This stock has so much potential to make money for all of us. I'm going to close my trade for today though...have a doctor's appointment and Rule # 1: never leave an open trade unattended. I'm selling into the 10cent range at least.
How'd you get that for free on otcmarkets? I signed up for the 1 month free trial here on iHub
Just got LVL II...anyone else here using LVL II?
It's now dropped below $3
Stop being ridiculous with this stock. I told you twice to get out while you were still with profit.
Serious question, in the past 12 months, are net positive 6 figures or higher? If you are, you can afford following this stock below $2
Boy was I wrong on that $0.15 call for this morning. Doesn't make any sense. There should have been more than enough buzz for momentum buyers to come in and shoot this to 20 cents today.
This stock is retarded. If it dips below $0.09 I'm out. Bought in at $0.102
Told ya. Did you heed My advice or you still bagholding? It ain't too late to sell and get out with the vast majority of your principle. I say bring it over to MGTI, the bitcoin train is revving up again
MGTI is a former runner, and former runners always run again. A lot of new Full-Time traders are going to be created through this stock soon lol. Anyone else here a FULL-TIME trader? #MGTI