Tag Archives: BGEM

Pennies Mistake

5 Apr

Reminiscing… Serious?  Seriously?  This is the first time I have actually tallied up my penny stock losses.  OK, I lost like $6467.37 by trading penny stocks between 2010-2011!!  I’m so undisciplined.   By not keeping  a steady track record of my gains/losses in previous years, it’s all becoming a blur.

What did I really gain by playing with risky penny stocks?  Only one prevailed while others fell flat on their faces.  Even my beloved GQ is stumbling these days due to rebels in Mali where our precious phosphate is being mined.  So really, I’m at a loss with my overall penny trading career.

NOT:  -$3519.99  I did not take my $900 profit off the table.
EPO:  -$1009.40  Never listen to thy brother.
UC:  -$1001.29  Kept on adding more shares and heartache into this dead gold mine.
BGEM:  -$596.79  100% gain, yet I was greedy to only end up with nothing.
RUN:  -$339.90  I have no idea why I bought into this one, wishful thinking?

This is a dark reminder for myself to not go to this destructive path again.  The risks I took was in over my head.  Goes to show that we can’t be right all the time.

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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.

Top Three Winners and Losers

9 Jul

My successes have also been hindered with failures.  Highlighting my current winner and loser holdings as of July 9th:

  1. GQ $2050 +547%         /     BGEM ($390) -62% 
  2. JAZ.UN $409 +48%    /      NOT ($2087) -40%
  3. SBUX $1248 +33%      /      NM ($393) -25%

Consolidation

6 Apr

Some major changes needs to be taken place to consolidate all of my holdings.  I have gone overboard with sporadic buys in stocks without much thought to them.  Borrowing and using margin to make new investments isn’t that cost efficient when they aren’t making money for you.   It’s time to re-evaluate my portfolio.  Smart decisions should be made by selling some losers and winners to clean up what I have made a mess of.

I am hitting myself over with RIM.  I had a gain of over a thousand bucks.  I was told to sell it before the earning release on March 31st.  But I was stubborn and wanted to see more gains.  I held on.  It dropped down to my buy in price… I panicked and sold out at break even.  Today it was up 4%, a profit of $300 if I had held on. 

This is not the first time either.  I did the same thing with BGEM (100% potential profit) and NOT ($900 profit)… now it’s down in the dumps.  I’m too greedy and unwilling to let go of a good thing till it crashes and burns!

I could have made $2500 in the short time span … instead I’m down $1000 of my own money.

This goes to show you that one should take profit whenever they can.  It’s hard making up lost grounds!

At Stake

2 Feb

Update on my Risky Stocks

BGEM- last mentioned share price was at 18.5 cents.  Trading volume is once again skyrocketing for BGEM.  With new PR releases and Superbowl around the corner, they’re set to make their Title Sports Drink a main attraction in Florida.  Today, BGEM gained 20% and is hovering around 30 cents. 

GQ- last mentioned share price was at 15 cents.  Volume is non-existent since I bought into it.  Not like I had anticipitated.  Live and learn.  I bought purely on speculation without much thought to it.  Today, GQ is trading at 12 cents.

NOT- last mentioned share price was at $1.77.  NOT has sunk even further down.  I’m eating my unrealized losses but I’m not too worried as there are great supporters for this stock.  NOT is at an exploration stage where they are drilling for the goods that is buried deep below the surface.  I’ll just grin and bear it for now.  Today, NOT is trading at $1.57.

Risky Stocks

14 Jan

Let’s just say I wanted to make a quick profit with a couple of risky stocks… but greed got the better of me. 

What's your tolerance?

1) I got an alert from Scotia technical about Noront Resources that it was bullish and going up to $4-6 bucks from its current price.  My hands got itchy that day cause I had some money sitting in my trading account.  So I ended up buying 2000 @ $2.15.  For the first week or so, it kept on climbing and I was up $900 in matter of days.  That’s when I should have cashed out.  I kept on reading the forums on how this stock is worth more than its current trading price that it’ll shoot up in 2010.  So I held on watching my profits become negative.  Currently, it’s trading at $1.77 per share.

2) I subscribe to this online pennystock newsletter.  It promoted BGEM when it first came into the scene.  Oh it was a little gem in the beginning for sure.  In a matter of a couple of days, it blossomed 100%.  For fun, I bought in 2000 @ 0.31.  So I had a wonderful gain of $600 in two days.  Oh, I had dollar signs in my eyes as they said it’ll go up to $1.00.  The hype died down after a week and the stock plummeted.  Currently, it’s trading at $0.185 per share.

Notes:  I am still holding these stocks at a loss.  Yet I am still hopefully it’ll bounce back so I can cash out with a profit!

Lesson:  When it comes to risky stocks, cash out when you’re still up!  Don’t hold on for too long, or else it’ll burn a hole in your pockets.  If worse comes to worse, I’ll sell at a loss!