Archive | 2.33

Goodbye BGEM

4 Nov

I finally let go of this dead penny stock:  BGEM trading on the Pink Sheets.  It was a classic pump and dump offered by free penny newsletters.  BGEM was featured as the hot stock to be in.  In the matter of a few days, I did have a 100% gain at one point.  I decided to hold on as I had dollar signs in my eyes.  But I got caught in the hype, then it came crashing down.  Before I could pull the trigger it was too late and at a loss.  I figure I’ll hold it till it comes back up… that never transpired.  The outcome has taught me a valuable lesson in the fast pace penny stocks.  It can turn on you in a second!

Walked away with just $93.76 in my pocket after my inital investment of $690.55 dated on Dec 31, 2009.  Took a loss of $596.79.  I could have waited longer to see a turn around, but I rather use that money to buy food.