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Wednesday, 10/13/2010 7:48:19 AM

Wednesday, October 13, 2010 7:48:19 AM

Post# of 14386
Slight success story; for what it's worth...

I guess since everyone has been posting about how much they lost, I figured I'd just share that I made a little bit of scratch off of this, but I was VERY close to getting hosed.

Being OTC, I knew from the beginning I didn't want to get in as deep as some of the big players. I had a lot to lose, but the financials looked great. I bought about 5000 shares at an average of a dollar around May of 2009. Watched as it waffled from 1.10 down to .80. Then around mid June, started it's upward climb. Got pretty excited, but felt holding was good idea.

After it peaked around 2.20, I was in the middle of purchasing another house and needed some cash. Judging from the charts, I figured I could sell my entire lot fo shares, and buy it back on dip. I was right.

But before I went to buy back, the stock started to tank and all the negative news came out. I figured it was bad luck and waited until it bottomed out. I was ready to pull the trigger at sub 1.00 but something just didn't seem right. In hindsight, I should have shorted it into the ground, but I managed to come away with several thousand dollars, so I'm pretty happy about that.

Having been hosed earlier in 2K9 on some other dubious companies, I felt lucky. EGMI has made me look much harder at any OTC company, no matter how financial and morally sound it seems.

Lord Steinberg was the kicker. I researched him and found him to be quite legit.

I really wonder if he had found out the truth and then just keeled over with the news. That would be the biggest tragedy of all this...

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