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starboy

04/24/05 4:59 PM

#1363 RE: Cutting Corners #1360

Cutting Corners, I hear you. Being a newbie is not easy in this game. I heard about GTEL from my broker, who keeps my IRA in dividend paying equities, then did DD & saw that core business was increasing with their innovative programs, & that the Strat could propel the company to an exalted position were the technology to prove itself. So I opened a Scottrade account just for GTEL.
Then found IH & started looking at charts & lurking here to absorb the TA angles, but, when I went to the unveiling April 12th, not knowing about the delay, I could do nothing to protect my 'enthusiatic overinvestment' in GTEL as the next a.m. it nosedived; although holding at what appeared to be a first resistance level of .24. Then as the charts started to go further south & most other TA I understood with them, I woke up groggy & a little late for this last Friday's trading session, saw we were a few ticks away from .20 secondary resistance level & fearing the worst, ( a drop to teens or single digits) sold half to protect what resources I command for this enterprise. Ugh!
So my loss, (having bought at higher PPs), was the gain for those well positioned in cash to buy more down low. Live and learn...If the Strat goes well they are rich, and myself only by half; if not I saved some money. Seems not much will happen until the actual test launch is finally a reality, because the charts are not pretty currently.
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wolfrun

04/24/05 5:46 PM

#1364 RE: Cutting Corners #1360

OT: That does happen all the time Cuttingcorners, and as you experienced, not safe either. Problem is, some folks can't watch the market on a minute/hourly basis so they feel theres no alternative. As for Starboy's query, all they have to do is put in a sell limit order to protect themselves if actual stop losses aren't allowed by their brokerage firm. In pennyland, even 20% is in their strike range.