GGR: GeoGlobal Resources Inc [was GEOG was BOWG] (2000 + )

» Kirk - Today's Charts

The highest price I sold yesterday was $1.21
I was debating if I should put in my limit at $1.27 or 1.26 when the bid was 1.26 and the ask was 1.28... greed. While debating with myself, the stock started to fall so I took the $1.21.

<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=469>

I thought the shares might retrace up to 62% of the run from any level, which now would be back to $0.65 (on a closing basis). I have no idea if TA works with penny stocks, but with the high volume we are now seeing, it probably has some effect.

So far, today we seem to see higher volume than yesterday at this time and we seemed to hit the uptrend line at $0.95 and turn higher.

<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=469>

Talk about a high risk video game with real money!

Good to see Wendel and Hugs posting again.

Hugs, remember people laughed at you for picking this at $0.65 in the stock picking contest? You have a double now. Those of us that DCA'd all the way down to 12.5¢ (my cheapest shares - I still hold some too) are having the last laugh.

-- posted by Kirk

» Hu - Re: Today's Charts

Too busy to be too concerned or very interested. But, ressurections from the dead do have a way of getting one's attention. Seems there's enough credibility to recent events, that it brings to mind how swiftly the perceived value of a company affects the value (or cost) of ownership...

-- posted by Hu

» Whirlwind - Re: Re: Today's Charts

Kirk,

In hind sight, every price that excited me where I held out for more was a wasted selling opportunity. If you are excited, it's toppy!

Pennystock Mentality...
So what type of investor trawls pennystocks?
1. He's willing to buy a 9¢ stock that's 9¢ because nobody else wants it.

2. He's willing to wake up in the morning and find his 9¢ stock now 4¢, or his 50¢ stock now 28¢ and still enjoy his breakfast profusely, because he knows he's picked a winner.

3. He's willing to average down from 50¢ to 9¢ and will buy heavily at 9¢ so the great majority of his stock is purchased at the cheaper level. Hey, he believes in the stock. Of course, the stock slips from 9¢ to 6¢ but that is of little consequence--he knows he's gotten in near the bottom and nobody hits the exact bottom anyway.

4. He loves his pennystock, but when he has a double, he sells half no matter what. And he's invariably happy in the end by his tactic.

5. He finds while doing his DD that one of his tech stocks he just bought a load of is spending more money on plane fares seeking capital from Europe, than it is developing its product, so he dumps it all immediately even though it just dropped 25%. And he figures he's ahead of the ballgame. The stock has a 5 for one reverse split and he celebrates the fact that he sold his remaining little stake at a 75% loss instead of the 95% loss that would happen just a week later.

6. He gets bored with his pennystocks and ignores them for a few weeks and looks at his statement one day and finds a 70¢ stock of his that had lost half its value over a period of 3 years now is over $4 a share and his hand is shaking as he calls his broker to sell. The same stock is $12 a share a few months later. Then $1 a share a couple of years later.

7. He buys a 2¢ stock because he knows that the shell alone of any pennystock is worth 2¢ a share for companies trying to avoid the hassle of starting a corporation from scratch. His 2¢ stock goes into a 100 to 1 reverse split.

8. Surprisingly, his portfolio rises slowly over time and pennystocks are still better that no stocks at all.

Hey people--I am not a sexist here. I use the pronoun "he" only, because I'm speaking for myself here and anyway, I just know that the girls are too smart to invest like me.

PERIOD Total Returns   Kirk’s   W5000  S&P 500 Nasdaq
                         NL     VTSMX   VFINX   ^IXIC
1 Year to 3/31/04      +70%    +40%    +35%    +49%
3 Year to 3/31/04      +37%     +8%     +2%     +8%
5 Year to 3/31/04     +102%     +2%     -6%    -19%

 

Total Return:
                           Kirk   W5000 S&P500 NASDAQ 
5 Yrs 3/31/99 - 3/31/04   +102%   +1.6%  -6.2% -19.0%
Annualized Annual Return +15.1%   +0.3%  -1.3%  -4.1%
 
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-- posted by Whirlwind

» Whirlwind - bowg chart

The shares you sold at 1.21 coming off the spike Kirk--nice.

-- posted by Whirlwind

» Wendell - QUANDRY

-- posted by Wendell

» Hu - Re: QUANDRY

A stop limit "converts" to a market sell order, and it'd probably be hard to invent a more sure way to sell at the very bottom of a sudden drop on a fast moving, thinly traded stock like bowg. Why? Because there's no guarantee of execution time with most brokers on an otcbb stock. In other words, if the stock is moving fast in price, plan on calling a 30 minutes delay in the execution of a market buy or sell order a good fill. At least it's still measured in minutes and not hours. So if and when it does happens to bounce, your order stands about a 99% chance of being executed at or very near "the extreme" of any particular spike.

Perhaps it's partly all those long boring days of near death that makes this latest run seem so explosive to some. But, having partaken of the good, the bad, and the ugly of the bowgy merry-go-round in years past, this lastest zing seems just a walk in the park.

Sell a little when it goes up. Buy a little when it goes down. It's not rocket science, by any stretch of the imagination. Resist Fear. Resist Greed. (Same ol' stuff Kirk preaches.)

-- posted by Hu

» Kirk - Re: QUANDRY

I agree with Hugs on this. A limit order for a sell they will just pull the buy orders and let the bid drop down to your sell stop and trigger it just to get the cheap shares that they can turn over 5 minutes later for a quick sale. Sounds illegal? Yeah, but this is a penny stock. I do think using limit orders to sell on the upside work well.

If you want to sell some, pick a price and watch for it then put in a limit order there when it gets close. I'd never trust a market order either.

-- posted by Kirk