Tag Archives: Penny Stocks

Goodbye Great Quest Metals!

14 Dec

Missed opportunity for me to cash out big on this stock.  I could have cashed out at its peak for $10,000.  But this little one didn’t go beyond my dreams of retirement.  Instead, I sold out at $1250 profit.

My hopeful hold out diminished as each day pass by while I cling to this penny stock.  For the past few months, it took a big stumble as the Mali rebels are over taking the region.  

Sometimes, it’s best to cut your losses or profits.  It might just come back to bite you in the arse.  2012 started off well for me, but mid way through, I sold out when I should have held on steady.  I made a few risky moves that cost me dearly.  Lesson learned.  

Time for me to recoup my losses and strike at it another day in 2013!

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.

Geologix Explorations Inc. (Public, TSE:GIX)

6 Oct

Just an update on my budding recent pick for GIX.TO:

Sept 17th:  3000 shares @ 35 cents
Oct 6th:  3000 @ 41 cents

It’s a good 5 cent jump today alone.  For the last couple of weeks, it’s been trading from 32-38 cents.  I was a little worried when it hit 32 cents as it was below my buy in price!  But looks like it’s turning a new leaf.  Let’s see where this one will go!

Update:  Oct 7th:  3000 @ 47.5 cents  (If I had only put more money into this thing instead of UC Resources)

Update:  Oct 14th  settling @ 51 cents.  Losing its intial hype…

Thou Shalt Not Listen to Others

15 Jul

No. 1 Rule:  Thou Shalt Not Listen to Others

Do what’s best for you!  Do not always follow the herd or else they’ll trample on you. 

Greed is my fault.  I got caught up in a hot penny stock.  It doubled in a matter of a few days when I bought into it.  I thought it’ll shoot up even more, but that’s not the case.  After the initial craze, the stock died down and it started to fall… it fell fast!  I didn’t pull the trigger when I had the chance.  I missed out on my 100% gain.  Now I am stuck with a 65% loss.  It’s okay as it was my first crazy loss.  Of course, I’m not that stupid… I only used $639.99 of my own money.  Essentially, I didn’t put my life savings into a crazy penny stock 🙂

Safety is my fault.  I sold out half of my position at a gain of 133% taking back all of my initial investment plus a tiny profit.  The other half of this hot penny stock went on to be a 6x bagger for me.  Instead of holding all the shares, I’ve lost out on the potential profit I could have had.  If I only knew… 😦

A direct comment from one of the fellow forumer at my posting in Agoracom:
Shoulda, coulda, woulda…. There is always another place in the market where you could have made more money, not suffered a loss, etc. etc. Important thing to remember is that it is a continuum. In the end it is all one stock. They all go through winning and losing phases. You could have chosen another stock and your timing may have left you just the same…. it’s not really about the stock… it’s about you….. and the decisions you make.

Penny Greed

19 Jan

Will penny stocks be the ruin of me?  I don’t know what it was that made me do it.  I was itching for some action with a hot penny pick.  Just for fun, I added one more penny stock to my cash portfolio.  Great Quest Metal – 5000 shares @ $0.15.

Today, GQ generated higher than normal in trading volume (5.5 million from the usual 180k in volume), 52% gain in one day… this calls for an uptick in the next day or so.   I have to keep a stern eye on this one.  I want to make a swift and clean exit with money in my pocket this time around.  No more holding and hoping, but knowing myself, I tend to have a hard time letting things go.

http://www.google.ca/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chdet=1263971160312&chddm=1173&chls=IntervalBasedLine&q=CVE:GQ&ntsp=0

Disclaimer:  This is purely based on my speculation.  Please do your own due diligence before playing the stock market.