GGR: GeoGlobal Resources Inc [was GEOG was BOWG] (2000 + )
- Kirk
- Kirk
- Hu
- Whirlwind
- Hu
- Hu
- KLR
- Whirlwind
- Whirlwind
- Kirk
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» Kirk - 2/17/03 BOWG Charts and Comments
.BOWG since 12/1/02
<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=469>
BOWG since 10/1/2001
<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=469>
YTD Graph:
<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=570>
Here is my guess. Deleted… I prefer to not speculate here at this time. I think it is far better to make sure all understand the rules for penny stocks. Lets figure out this shorting issue first.
If others want to speculate, then what would an oil and gas IPO be worth in a World where Saddam is still in power and the US and UN are still debating to go to war 3 months from now? As it is, I'm paying about $2/gallon for premium which is within 10% of an old high. What if the US invades and Saddam ignites his oil fields? Is that already reflected in the price of BOWG or will this news be "pumped" after share volume dries up? (not a bad pun there... 
)
BTW, I've taken profits… substantial profits that come from buying thousands of shares for as low as 12.5¢ a share. It is foolish to not take profits after a huge gain unless you are an insider and know something. My actual targets to buy a dip or sell a rally are in my newsletter where I can give a full disclosure and proper warning about the risk in this speculation.
-- posted by Kirk
» Kirk - Re: Can You Short BOWG?
.In response to message posted by Whirlwind:
Alan says Interactive Brokers at http://www.interactivebrokers.com/index.... allows you to short a penny stock. How does that work? I thought one of the reasons for the $5 rule is to prevent gambling and large losses on speculations like a penny stock? Companies are delisted and become penny stocks because they don't follow the rules or meet all the liquidity requirements. If a company is too small, then it is much too easy to jerk it around and manipulate the price, especially by the insiders who don't have to follow the rules since they have been delisted.
My advice is don't short stocks unless you are a professional trader even for listed companies. It seems insane to think you know more than the insiders of delisted companies who make their money manipulating stock prices.
<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=366>
The idea of shorting a penny stock that has a history of trading from 8¢ to $1.30 in just over a year and from $11 to $1 as well seems pure folly unless you are a professional meaning you understand how to limit losses for stocks that don't follow the rules to be listed on the NASDAQ.
-- posted by Kirk
» Hu - Re: 2/17/03 BOWG Charts and Comments
In response to message posted by Kirk:"If others want to speculate, then what would an oil and gas IPO be worth in a World where Saddam is still in power and the US and UN are still debating to go to war 3 months from now?"
Way too difficult to speculate on. (But, it just might be about the only sort of IPO that would interest me... if it were valued right!) It's this last little rise that has me drumming my fingers on the table. ('cause a remotely similar pattern has happened here before.)
-- posted by Hu
» Whirlwind - Re: Re: Can You Short BOWG?
In response to message posted by Kirk:Agreed Kirk. Shorting by an individual is actually worse than doing the casino. Shorting only makes sense for the little guy if he owns the stock and expects volatility, thus limiting potential losses to $ of stock owned.
On the other hand, if you get an A&P type directing a cadre of shorters to hit one company, the stock price will collapse.
-- posted by Whirlwind
» KLR - Re: Re: Re: Can You Short BOWG?
In response to message posted by Whirlwind:...Shorting only makes sense for the little guy if he owns the stock and expects volatility, thus limiting potential losses to $ of stock owned...
If you short stock that you already own you are "shorting against the box". You have effectively locked in whatever profit or loss you have in the stock and will not be affected by volatility. Profits/losses in the short/long position are offsetting.
SAB is often used as a hedge to protect extisting profits without actually selling the stock.
BTW, I checked out that broker link http://www.interactivebrokers.com/index....
and could find nothing regarding possible shorting of penny stocks but couldn't find much. Can you give me some guidance here?
-- posted by KLR
» Kirk - 2/19/03 Market Close Comments
.BOWG since 12/1/02
<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=469>
BOWG since 10/1/2001
<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=469>
YTD Graph:
<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=570>
Three knocks at $1.30 with rejection. Today a dragonfly doji candlestick... http://stockcharts.com/education/what/Ch...
after a small pullback.
BTW, I've taken profits… substantial profits that come from buying thousands of shares for as low as 12.5¢ a share. It is foolish to not take profits after a huge gain unless you are an insider and know something. My actual targets to buy a dip or sell a rally are in my newsletter where I can give a full disclosure and proper warning about the risk in this speculation.
Good luck!
-- posted by Kirk
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