Magellan Energy, Ltd. (MGLG)

[Dolly Llama]

Not a dumb question. My guess is that many traders did exactly what you did today - they sold and bought back in at least one time. I believe many bought into this stock on Friday in anticipation of the numbers coming out in a PR today. Once the update came indicating that the numbers will be out at a later date, many believed the pps would decline, and sold. Many of those probably bought back in later in the day at a lower pps. All this trading is reflected in today's volume. I believe many who sold today and did not buy back in will do so at a later date in anticipation of the PR containing the numbers.

You are to be congratulated for successfully "flipping" shares today. It is generally considered a very risky thing to do. Typically I'm a holder. I sold the majority of my shares at .0002, making a profit, and leaving myself with free shares that I continue to hold. If I'd held all my .0001's I'd really be sitting pretty. But as a rule in penny stocks it is wise to get back your initial investment, and that is what I did. I'm not worried about the decline in the pps today as I think Magellan is a real company with real earnings, and I expect to see the pps rise when the numbers come out.

As for the opinions expressed on the boards, expect the full gamut from buy to sell, with a big dose of "scam" on the side. Half the fun is trying to figure out what people are up to.