ATTENTION new SPNG investors
If you have been following this stock, this board, and the strange activity on this stock, please take a moment and read this message for your benefit. Learn from my mistake.
In July during the big runup, as a fairly new SPNG investor, I was excited by the large % gains. In order to protect my gains, I decided to follow the textbook and set a stop loss. Unfortunately, I didn't understand the context in which those stops were placed. Context is important.
This is an OTCBB stock, which means it is much more susceptible to manipulation. I placed my stop at .15, thinking it could never drop below that in one day. As the dump started, I was only a little bit annoyed at the drop, thinking it couldn't continue to drop. So I left my desk in the morning (for the first time in weeks) and went out to coffee with a friend. About half an hour in, I decided to check up on SPNG and found that I had stopped out and the price was now .12. I scrambled home, and wasn't able to fill an order until .17.
I'm a college kid with not a ton of money, so I lost about 1/3 of my shares.
Don't let this happen to you.
My advice (other longs feel free to comment/correct)
Be very cautious with placing stops. I have decided not to place any stops, because I had some shares robbed due to manipulation. I have decided that if there is another attack on the PPS (as I'm sure there might be one last 'hail mary'), I'll be there watching, not leaving my fate up to a computer.
This is just my advice to you, because I know how much it hurts to have even a small amount of my hardly earned money lost to manipulation or just plain bad luck (poorly placed coffee date). So, be careful, place your stops wisely (or don't place them at all).
Long & Strong. Go SPNG. Give em' hell.
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