GGR: GeoGlobal Resources Inc [was GEOG was BOWG] (2000 + )
- Hu
- Whirlwind
- Hu
- Kirk
- Kirk
- Wendell
- Kirk
- Hu
- Whirlwind
- Whirlwind
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» Hu - Re: Re: 2/19/03 Market Close Comments
In response to message posted by Whirlwind:Today I "re-adjusted" a number of GTC (Good 'Til Cancelled) buy and sell orders for trading this little dowgy, along with doing some ponderous reconsideration of the pro's and con's of the old "core position" in my account. (Some of which might surprise a few of you.) Perhaps I haven't been alone. But, there were so many variables that can, might or should be considered... I really did crack up with Kirk's Dragonfly post. After reading it several times, I'm still at a bit of a loss as to "the direction" it might be indicative of. (And it had no particular significance or influence to any of my decisions earlier in the day.)
And, being that it's trading in a price range that I've both bought and sold in at some point in time past, I suppose I'm not much in the mood to speak or say much yea or nay. It will go where it will go, with or without me.
-- posted by Hu
» Kirk - Re: Re: 2/19/03 Market Close Comments
.In response to message posted by Whirlwind:
Kirk, Now that you have followed this stock for so long you are familiar enough with it to trade it to the hilt.
Perhaps I have gotten a good feel for when to buy and sell or just running a good period of luck now. It is nice to have an 11.5¢ per share cost basis now for my newsletter portfolio where I am on record for all buys and sells.
This is an interesting chart:
<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=570>
I've appreciated your comments on penny stock trading over the years and I sure take your advice to heart. Perhaps you could post it again here as it is great for people to see who get all wet over a stock that is already up 10x rather than excited when it was selling for half its cash value (or less) a couple of years ago.
-- posted by Kirk
» Kirk - Re: Re: Re: 2/19/03 Market Close Comments
.In response to message posted by Hu:
I really did crack up with Kirk's Dragonfly post.
The goals here are to educate AND entertain. I am glad to be successful with the second. 
After reading it several times, I'm still at a bit of a loss as to "the direction" it might be indicative of.
Good! This means the lessons I have been taking from Sir Greenspan are paying off. He is a pro at giving out good information but leaving it to the reader to decide what to do with it. Since the beginning, I've tried to keep this place for sharing information and for members to give their interpretation of the data. To offer something of value so I can keep moderating this site, I try to keep my actual interpretation of the data (Buy and Sell levels) in my newsletter.
I look at my role here as to moderate the discussions (toss out the trouble makers and encourage helpful posters such as yourself and Alan) and to facilitate finding and sharing information which has included recruiting experts to help us such as Lita and Lakshman.
I'm sure glad to have you back posting as I always enjoy reading what you have to say.
-- posted by Kirk
» Wendell - LITTLE PUPPY
Bowg, you are doing just fine. Take your time, I am in no hurry to see you work yourself up to the lofty perch on which you once sat. You can yoyo back and forth for a few more days as long as you don't go into sleeper mode. It is amazing the steps you have taken the past few weeks but, as usual, we are not satisfied. Don't get disheartened Bowg, you have a great silent majority following your every step and hurrahing your every upward move. Take your time, we will be here when we need you.-- posted by Wendell
» Kirk - Charts Through 2/21/03
.Looks like a few weaker hands were shaken out of the tree early this AM. 20% volatility in a day is not unusual for a penny stock but it isn't typical!
Smart bulls will pay attention to what happened.
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>
5 Day Chart
<img src=http://cbs.marketwatch.com/charts/int-ad... width=452 height=366>
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
» Whirlwind - Re: Re: Re: 2/19/03 Market Close Comments
In response to message posted by Kirk:Notice the nice basing action on BOWG in the October-December range. Went crazy once it crossed over its 200 day MA.
I posted the pennystock rules on January 27 but I'll repost here again. emember my Zappa stock? It fell as low as one cent Canadian this past summer. Current price....13 cents Canadian.
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.
-- posted by Whirlwind
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