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Posted: 5/23/2003 12:40:24 PM EDT
Do you have any attractive picks right now? I just made out alright on Abraxas Petroleum. I bought it a few months ago at $0.42 per share and immediately put an open order to sell at $1.00. It finally hit that mark today, and it sold. I think it's still looking pretty good. Any other stocks you like?
Link Posted: 5/23/2003 12:45:13 PM EDT
Not under a buck (but close) - I'd short SIRI down under $1 right now.
Link Posted: 5/23/2003 1:03:44 PM EDT
Just made a couple of easy hundred on SIRI this week. I got nervous today and got out but it looks like it could keep climbing. I'll try to get back in on the next bad trading day.
Link Posted: 5/23/2003 1:27:43 PM EDT
Originally Posted By NoVaGator: Not under a buck (but close) - I'd short SIRI down under $1 right now.
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[url]http://www.forbes.com/2003/05/22/cx_ah_0522tentech.html[/url] I don't think I would short it. It's gapped up two days in a row, on high volume, and Forbes just ran a positive article on it. I think I'll buy a few thousand.
Link Posted: 5/23/2003 1:35:25 PM EDT
Link Posted: 5/23/2003 2:50:00 PM EDT
Originally Posted By RLR:
Originally Posted By NoVaGator: Not under a buck (but close) - I'd short SIRI down under $1 right now.
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[url]http://www.forbes.com/2003/05/22/cx_ah_0522tentech.html[/url] I don't think I would short it. It's gapped up two days in a row, on high volume, and Forbes just ran a positive article on it. I think I'll buy a few thousand.
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Today's gap was on significantly lower volume than yesterday's. This stock may very well be $5 before the end of the year, but I think it will come back to $1 first.
Link Posted: 5/23/2003 3:11:24 PM EDT
CITN.OB
Link Posted: 5/23/2003 3:36:03 PM EDT
Link Posted: 5/23/2003 4:13:34 PM EDT
ADSX
Link Posted: 5/23/2003 4:47:37 PM EDT
SLPH Sulphco - they make a portable desulpherization machine - takes the sulpher out of crude oil. Its either gonna make money or it isn't. Not much inbetween. Right now its in the 40 cent range.
Link Posted: 5/23/2003 6:45:10 PM EDT
Want to gamble, buy Healthsouth. It will either go into bankruptcy and you will lose it all or it will survive and go to $10 per share. Currently at $0.42 per share. Was at $0.08.
Link Posted: 5/23/2003 8:14:05 PM EDT
BTT
Link Posted: 5/23/2003 8:52:07 PM EDT
Originally Posted By Wolfpack:
Originally Posted By BenDover: CITN.OB
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Is that CT Holdings, Inc.?
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Yep. I've made money on that damn thing about 40 times.
Link Posted: 5/23/2003 11:54:38 PM EDT
Link Posted: 5/24/2003 1:37:38 AM EDT
kmart ? they just got out of bankruptcy
Link Posted: 5/24/2003 6:21:31 AM EDT
Originally Posted By Wolfpack:
Originally Posted By BenDover:
Originally Posted By Wolfpack:
Originally Posted By BenDover: CITN.OB
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Is that CT Holdings, Inc.?
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Yep. I've made money on that damn thing about 40 times.
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How long do you hold on to the stock usually before you sell?
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My threshold is 30% gain.
Link Posted: 5/24/2003 7:01:28 AM EDT
Hmmm...
Link Posted: 5/24/2003 7:35:28 AM EDT
Do you think Level 3 is something to keep an eye on? I know its over the $1 mark but I know it was a very strong stock in the past. Its also backed up by Warren Buffet and Walter Scott, some guys from Omaha (where I live!).
Link Posted: 5/24/2003 8:08:23 AM EDT
Gambling on these stocks is OK, i guess, but there's often a really good reason why they're so low. It seems like a good idea to decide ahead of time what fractioon of your investment money will be in speculative activity, and the rest in other, diversified investments. I really would not have a lot of money open in a short position on a low-priced stock. Isn''t the profit potential limited by its being so close to the bottom? Then on the off chance that the stock makes a big move upward, you're wide open, though I suppose you can use a limit order to keep it from getting too bad. It will be interesting to see what happens to HealthSouth. I expect them to try to spin off some of their profitable operationns. On the other hand, there is the SEC, HHS, FBI, and shareholder suits to be concerned about, and it's not clear to me if all that gets in the way of such a move. My ex bought the stock of some company that had hit the tubes, thinking that with some help it might become profitable and take off. However, while they did find a new investor to put a pile of money into the company, in the process a new class of stock was issued (or was it bonds convertible into a new class of stock?) Anyway, the new stock essentially had rights that wiped out any hope of the existing stockholders ever seeing any rise in their stock. So her investment was worth zip. She also was on top of the bubble and complained to me once, "I lost $10,000 last week." My friends lost 60 or 70% of their 401(k). They are being very cautious now, maybe too much so.
Link Posted: 5/24/2003 8:26:43 AM EDT
You might could get an old beat up A1 stock for under a buck... [}:D] What about the Aussie whorehouse stock it's around a dollar... TS
Link Posted: 5/24/2003 8:49:47 PM EDT
Whatever happened to MCI/Worldcomm stock? Is it still available? GunLvr
Link Posted: 5/24/2003 8:54:58 PM EDT
I like United, it isn't $1 anymore, but I think it has alot of upside. I bought a couple thousand shares at a buck.
Link Posted: 5/24/2003 9:16:57 PM EDT
OK someone want to tell me what a short is? Im not a stock trader but I always watch these threads wondering if I sholud throw down some money and play. Anyone know a good site to learn the basics of trading? How about day trading small amounts?
Link Posted: 5/25/2003 12:28:58 AM EDT
Shorting or selling short is when you sell shares of a stock that you don't own. In doing so you are betting that the price of a stock is too high and is about to go down. The idea is that you will make money when the stock tanks and you buy it back to cover your short position. Some online trading companies don't offer short selling as an option. It can be risky if the stock suddenly takes off on you while you weren't watching it, this is why many experienced traders will put in stop limit orders to keep thier loss minimal. For basic info on trading stocks you can look at the NYSE website and practice trading on MSN investor software or use the VSE website to create and manage a stock portfolio(Virtual Stock Exchange).
Link Posted: 5/26/2003 4:40:47 PM EDT
Originally Posted By OregonShooter: Anyone know a good site to learn the basics of trading? How about day trading small amounts?
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Even some of the basic sites like [url]finance.yahoo.com[/url] have some useful little tools for learning. Go to Yahoo's stock screener, and learn about all the criteria you can use to screen stocks. As a beginner (which I also am for the most part) I don't recomend shorting stocks or playing with options. I like to stick with the low dollar stocks if I'm intrested in playing and always bug out when I get between 30-50% gain. Above 30% is a little bold (or stupid), but with the amount of money I invest per company, I don't stand to lose more than a few hundred dollars. Just make sure you keep your play money apart from your living money. I have an E*Trade account that I use for this. Once I get myself together, I'll start puting a little money into it every month so I can play more. Oh yeah, and when you're figuring out when you should bug out of a stock, don't forget about trading fees. I try and write that into my selling price. If my cost is $20 per trade, I add fourty dollars to what I paid for the stock, decide on my selling price with that in mind, and immediately put an "open till cancelled" oreder to sell at that price. It prevents me from holding off on a sale when I should really be taking my money and running like the wind.
Link Posted: 5/26/2003 4:57:53 PM EDT
Oh sheesh.... As if the ATF, CIA, and KGB watchin us wasnt enough.... Now you guys are inviting the SEC & the IRS... While Im here, if its under a buck is it a penny stock? I know, I know, follow the links....
Link Posted: 5/26/2003 5:19:02 PM EDT
Originally Posted By Chimborazo:
Originally Posted By OregonShooter: Anyone know a good site to learn the basics of trading? How about day trading small amounts?
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Even some of the basic sites like [url]finance.yahoo.com[/url] have some useful little tools for learning. Go to Yahoo's stock screener, and learn about all the criteria you can use to screen stocks. As a beginner (which I also am for the most part) I don't recomend shorting stocks or playing with options. I like to stick with the low dollar stocks if I'm intrested in playing and always bug out when I get between 30-50% gain. Above 30% is a little bold (or stupid), but with the amount of money I invest per company, I don't stand to lose more than a few hundred dollars. Just make sure you keep your play money apart from your living money. I have an E*Trade account that I use for this. Once I get myself together, I'll start puting a little money into it every month so I can play more. Oh yeah, and when you're figuring out when you should bug out of a stock, don't forget about trading fees. I try and write that into my selling price. If my cost is $20 per trade, I add fourty dollars to what I paid for the stock, decide on my selling price with that in mind, and immediately put an "open till cancelled" oreder to sell at that price. It prevents me from holding off on a sale when I should really be taking my money and running like the wind.
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If you following the message boards on a particular stock, be very careful of what other people say and don't let it influence YOUR investment. Watch out for people that mindlessly pump up (inflate) or bash (deflate) share price on a stock. They don't have your interests in mind even though they may seem to. Many use fear and scare tactics along with outright lies and deception. People are actually paid to manipulate the price like this so they can buy on the cheap and dump the stock on artificially inflated high. People then buy on the hype and then are left "holding the bags" as they say on a plummeting stock. Your best bet is to avoid these types and do your own research and remember what your goals were when you bought the stock and what you are willing to lose. Message boards aren't always bad and you can gain some good information from them, but be aware. Here's a little good reading: [url]http://www.messageboardfools.com/bashers.htm[/url]
Link Posted: 5/26/2003 7:03:39 PM EDT
[Last Edit: 5/26/2003 7:04:56 PM EDT by Chimborazo]
This is very true. I remember a few years ago people were going out onto message boards and doing this with fantastic results (for themselves). Didn't some people get into some hot water for this? I don't remember the details, but be careful. maddog71 is absolutely right...do your homework, and take what others say with a grain of salt. Even the big dogs (eg: Prudential Securities) have gotten in trouble for this sort of thing. If you blindly follow what people say in threads like these, it can be great fun. However, only use your Vegas money for such endeavors. And hang on for the ride. Note: There are people here who you should follow. You just need to figure out who they are. EDIT: Sometimes, bending over isn't always a bad thing. [:D]
Link Posted: 5/27/2003 11:36:21 AM EDT
Just put in a very low bid for CITN.OB. Waiting....
Link Posted: 5/27/2003 11:52:30 AM EDT
Full disclosure: Shorted SIRI today at $1.39 with a target of $1.10. Stop at $1.46
Link Posted: 5/27/2003 12:04:27 PM EDT
For $.043 a share, you can buy a bunch and play around with it. I've seen it jump from 20-30K shares traded in a day to over 250K shares traded in a day for no apparent reason at all. Last time it went 250K shares traded, it only added like $900 in market cap. [:D] Whadda ya want? It's a fricking penny stock.
Link Posted: 5/27/2003 12:06:32 PM EDT
None.
Link Posted: 5/27/2003 12:54:26 PM EDT
Originally Posted By BenDover: For $.043 a share, you can buy a bunch and play around with it. I've seen it jump from 20-30K shares traded in a day to over 250K shares traded in a day for no apparent reason at all. Last time it went 250K shares traded, it only added like $900 in market cap. [:D] Whadda ya want? It's a fricking penny stock.
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Hmm.. What does .OB stand for?
Link Posted: 5/27/2003 12:56:20 PM EDT
Outta' Bucks [:D] It's the ticker designation for an over the counter stock not listed on NASDAQ.
Link Posted: 5/27/2003 10:35:53 PM EDT
I also got in on United (UALAQ), it's gone from .75 to 1.91 in a month, hurray. Of course I also have some shares with a cost basis of 16.00 - that sucks.
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