Tag Archives: UC

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.


Selling Spree

9 Mar

Rule#1:  Never ever listen thy brother!
My brother has been a money pit.  Everything that comes out of his mouth is worthless piece of crap.  So I sold EPO at a loss of $1075 + commissions in my QT TFSA!

Rule#2:  Never add onto a position of a stagnant penny stock!
I wished I never heard of Noront Resources and UC Resources.  Anyways, I finally managed to sell some of my UC shares @ 9 cents in my QT RSP and TFSA.  I haven’t even calculated my losses yet.

Rule#3:  Sell it or it will come back and haunt you!
I bought CLF and POT and they both had a spectacular run.  I had about a 5-8% gain on those two, yet I didn’t sell them at a profit.  Now, it’s come back below my buy in price.  Still holding it, but I wished I had sold them just a day or two ago…

Bad Seeds

1 Mar

Noront Resources Ltd. and UC Resources Ltd. are a couple of bad seeds in my portfolio.  Yes, I’m holding them still.  I’ve spread the bad seed (UC) to my QT RSSP and TFSA account.  Both of my accounts are suffering based on my bad decision by adding more position at a higher price.  I’ve done the same with Noront…by adding it to my RRSP, but luckily I manage to get out of that one with no real damage.

Current Holdings
NOT:  Original Investment $4300.00 -$2720.00 current loss
Notes:  I watched it go from a profit of $900 to negative $2720, hard to swallow.

UC:  Original Investment $5230.36-$820.36 current loss
Notes:  Volume is very low, I will have a hard time getting rid of my 49,000 shares.

Plan of action:  I might have to take my current losses to make my portfolio stronger as a whole.

Added Positions

4 Jan

In my Questrade RSP account, I sold Husky (100 @ 26.50; 100 @ 26.39) and profited $203.78.  Using Questrade, I’ve made a few mistakes in my order entry.  I wanted to sell 200 shares at once, but I only entered 100 shares.  I lost about $15.95 in error and comissions. 

Questrade’s trading interface is not in its best format.  Transaction is always set at “BUY”.  So yes, I’ve bought stocks when I actually intended to sell it.  These errors are avoidable if I check my orders more carefully.

Today, I added two positions to replace my sale of Husky:

  1. AP.UN (200 @ 21.93)
  2. CSH.UN (100 @ 8.37)

Noteable Stocks:  GQ is still going strong, jumping 26 cents to $2.49.  While UC is still lagging, dropping 1 cent to $0.095.  UC isn’t giving me a run for my money like I hoped.  Maybe, it’s time to cut my losses and move onto more opportune stocks.

Thumb of Rule:  I will not sell GQ, GIX, NOT, UC till December 2011.  They are my junior penny stocks.  GQ and GIX have performed well for me while NOT and UC have been free-falling.  Money has been funneling to NOT and UC which was a big mistake while GQ and GIX took off.  Time will tell which ones will fly or falter unless some drastic measures have to be taken.

Am I crazy?

18 Nov

For believing in UC Resources?  Maybe a little.  It hasn’t done much in the past few months.  But I had just under a thousand in my QT RSP account waiting for some risky business.  I added another 9000 shares @ 10 cents to UC Resources.

This brings me to 49,000 shares… I don’t know exactly what my average price is.  I’ll update later when I get the chance.  I probably got a good $5000 in this 10 cent stock.  Call me crazy, but I’m looking for some fast money here!

Update:  $5,230.36 invested into this high risk penny stock… UC Resources!  I hope this small investment will turn into a small fortune for me one day.  It might go either way…. time will only tell!!

Betting on the Right Stocks

19 Oct

Sometimes you’ll hit a home run, sometimes you’ll strike out.  Know what your risk tolerance is for one particuliar stock. 

Greed got the better of me.  In my mind by holding 40,000 shares in a penny stock can reek explosive gains if it only went up by this and that.  10 cent gain = $4000; 25 cent gain = $10,000; 50 cent gain = $20,000  and so forth.  You get the picture, right?

It was a risky move by adding more shares to my position in UC Resources.  My original stake is at a mere 17% gain versus a more current pick, GIX, that went on an explosive run to 83%.  I am quite disappointed how the initial launch in UC Resources didn’t quite catch on fire.  My second and third position has basically wiped out my gain.  Patience is virtue.  This is starting to wear on me as I have watched a similar junior stock, NOT, I own go down to 43% in which I still own.  It’s quite discouraging to buy in when the stock is rising only to fall back below your buy in price.  All the glitter of a 10 cent stock can be wiped out by a marginal fall of a cent.

Choose your picks wisely.  I did miss out on golden opportunities.  Held onto losers while a runaway stock just slipped through my fingers.  Best to always minimize your losses and follow where the money is.

Pennies @ Work

28 Sep

Adding more to my position in UC Resources:

10,000 @ 8.5 cent 
4,000 @ 10.5 cent 
26,000 @ 11.5 cent

40,000 @ 10.65 cent avg cost

Let’s see how this will come about in the upcoming months.  I am hopeful that this will move up to 15-20 cents by December 2010.  Will this bring me joy or heartache?

Crazy Sells and Buys

17 Sep

Today, I just sold off four stocks to revamp my portfolio.

CHE.UN from my Scotia Itrade – This unit trust had been good to me.  I had a pretty good run with this one, but over the last few months, it’s been taking a beating.  I am sad to let this one go actually.  It had been paying me out consistently at $40/month.  Sometimes, it’s better to sell out before it goes for a free fall.  I had hopes it’ll bounce up, but hit a road block.

CSCO from my Scotia Itrade –  This recent buy has been a little to slow to pick up a rebound. The free up money will either go to pay off some debt that has been adding up for me.

NM from my TFSA Questrade –  Had chances of selling at a small profit.  My mentality back then was to hold and hope for bigger gains.  Lesson learned is to profit whenever and go onto the next best thing.  Held this falling one for a good 9 months.  Really dissapointing.

UCO from my TFSA Quetrade –  Crude oil hasn’t risen as fast as I thought it would for this year.  Another big loss I took to set forth another direction in my trading style. 

Here are my buys to replace my sellers: 

I picked up 2000 shares of GIX.TO @ 35 cents.  It had a good pop up today.  Hoping this one will make a good run out before hitting its peak. 

I’ve added more to my position at UC.TO.  The average cost now is at 40,000 shares @10.65 cents.  This can either end up badly or make me really happy down the road.  Check back in a few months.  

Best Buy (BBY) 100 @ 37.15(USD) is purely for seasonal play.  Waiting on the Oct 5th dividend and the uptick in the spirit of Christmas!  Hoping this one will bring me a good present!

Time for me to let these budding penny stocks to blossom when they are ready!

Impulsive Penny Buy

16 Feb

I couldn’t help myself to another penny stock. 

Ticker:  UC (UC Resources Ltd.)   Shares: 10,000   Price: 8.5 cents

Gossip:  Watch UC Resources over the next 3 months. It may be a 6 banger in that time span … with little down side (risk) from here.

Update the current price on June 16, 2010.  June 16th:  8 cents- not much activity.  Down $50.00.  Listening to others doesn’t always pay off.