Replies to post #6853 on Cannon Exploration Inc. (fka CNEX)

[Carnac]

What do you base this on enzo, 1 PR sent it over 02 the last time. Is this statement based on charts? I'm curious, don't get me wrong I am no pie in the sky person but I would rather base an assertion on fact.

[Jitterbug]

I made my investment a while back in CNEX, lost the money, and that's all part of the game. I'm not lingering on my losses or crying about them or bashing the people around me that maintain a more positive focus since we have all had different entry levels here with CNEX. These different entry levels can warp a person's perspective. As with the many people who bought this stock on Wednesday must be claiming that this is the best company EVER, since they are definately UP. It's all a matter of perception.

To lose a few grand here and there is part of the trading world, as long as you make it back tenfold elsewhere, and if CNEX is the only stock you have ever played and you got burned, that's crappy.

It would take quite a bit of a PPS increase for me to ever break even here, so, please don't take my positive outlook on a good day as a cheerleader chant, good days are far between at times. Would I buy more shares at this time? No. Am I still invested in this company's positive news and gains and possibilities? Yes.

[Sola Fide]

You posted your average was .0034, when it popped the other day to the high .002's why didn't you lighten your position?
That would have been an opportunity to re-instate discipline, varies from trader to trader and with stock volatility, but a 20% stop loss can be prudent.
You could easily have sold @ .0028 - .0029, and either waited for a pullback to rebuy some back lower to lower your ave, or just hold the remaining balance to see how its going to play out.

If you are trading, it is rather important to have some chart reading skills (you would have anticipated the stop @ .003) and closely follow L2 action.

I suspect you'll have another opportunity perhaps monday or leastways next week. Shouldn't be surprised by Fridays' action, profit taking and end of week position closeout...some folks use strict discipline.
It was low volume and low drop, add in mms' were stepping on it...they are short some on their books.
Chatter on other boards, twitter, and the BM's indicate many eyes on this, if it gets news or starts to move with volume, especially above .003, imo....its going to go fast and I don't think .004 will be tough to break, good chance to .006.....course this is just my opinion.