Stock is going nuts...what to do?

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Stunt

Stunt

Diamond Member
Jul 17, 2002
9,717
2
0
My buddy has been following this stock; told me about it way back in March or something (6cents). It's a speculative gold exploration company with properties in peru and ecuador.

The stock is going nuts; people think the news coming Thursday or early next week will be good. I think it'll have good things to report as well. All the indicators are saying buy and the thing keeps going up. This could be a $3-$10 stock.

I bought at $0.88...currently at $1.20.

Should I take the 50%, wait for the news, put a stop loss or go long on the thing?
What should the stop loss be set to?

Thanks.
 
T

ThaGrandCow

Diamond Member
Dec 27, 2001
7,956
2
0
Sell enough to get half of your original investment back. If the stuff hits the fan you can cash out and probably make the rest back, but worst case, it's an acceptable loss.
If it skyrockets, you've still got a massive profit :)
 
Kadarin

Kadarin

Lifer
Nov 23, 2001
44,296
16
81
Or the buzz on the stock could be indicative of a scam in progress. Be careful.
 
D

DaveSimmons

Elite Member
Aug 12, 2001
40,730
670
126
Hmm, this reads like classic pump and dump stock promotion (secret insider infor that will "explode" the stock price), so if you'll just switch to the black guy avatar we'll know that you're in on the scam :)

Odds are very high this is a p&d scam, so safest is to get out now before the dump phase crashes it back to 0.20
 
E

everman

Lifer
Nov 5, 2002
11,288
1
0
Smart people know when to get out, pigs go to the slaughter. At least cash out to guarantee 25% gain imo.
 
Miramonti

Miramonti

Lifer
Aug 26, 2000
28,653
100
106
Originally posted by: Stunt
My buddy has been following this stock; told me about it way back in March or something (6cents). It's a speculative gold exploration company with properties in peru and ecuador.

The stock is going nuts; people think the news coming Thursday or early next week will be good. I think it'll have good things to report as well. All the indicators are saying buy and the thing keeps going up. This could be a $3-$10 stock.

I bought at $0.88...currently at $1.20.

Should I take the 50%, wait for the news, put a stop loss or go long on the thing?
What should the stop loss be set to?

Thanks.
Click to expand...

:roll:
 
C

chambersc

Diamond Member
Feb 11, 2005
6,247
0
0
OP beware what you say. You could be investigated real soon.

Oh yeah, quoted for posterity.
Originally posted by: Stunt
My buddy has been following this stock; told me about it way back in March or something (6cents). It's a speculative gold exploration company with properties in peru and ecuador.

The stock is going nuts; people think the news coming Thursday or early next week will be good. I think it'll have good things to report as well. All the indicators are saying buy and the thing keeps going up. This could be a $3-$10 stock.

I bought at $0.88...currently at $1.20.

Should I take the 50%, wait for the news, put a stop loss or go long on the thing?
What should the stop loss be set to?

Thanks.
Click to expand...
 
Miramonti

Miramonti

Lifer
Aug 26, 2000
28,653
100
106
Originally posted by: chambersc
OP beware what you say. You could be investigated real soon.

Oh yeah, quoted for posterity.
Originally posted by: Stunt
My buddy has been following this stock; told me about it way back in March or something (6cents). It's a speculative gold exploration company with properties in peru and ecuador.

The stock is going nuts; people think the news coming Thursday or early next week will be good. I think it'll have good things to report as well. All the indicators are saying buy and the thing keeps going up. This could be a $3-$10 stock.

I bought at $0.88...currently at $1.20.

Should I take the 50%, wait for the news, put a stop loss or go long on the thing?
What should the stop loss be set to?

Thanks.
Click to expand...
Click to expand...

This alone doesn't qualify as illegal.
 
T

TheCanuck

Senior member
Apr 28, 2003
373
0
0
Back in the mid 90's everyone in my office was buying a gold stock that one of our older marketing guys was talking up -- he said we'd be dancing in the streets when news came back on the samples they assayed. Apparently they thought they had found a large gold deposit.

Well the first guys to get in were in at around $1 a share and sold at about $2 a share...I and some others got in around $1.60 a share and thought we'd hold out for the good news. The samples ended up coming back as worthless and the stock dropped quicker than an ATOT member getting hit by a roundhouse kick from Chuck Norris!

Just make sure if it tanks you won't lose more than you can afford. Luckily I only lost $500...but I still felt like an idiot when I lost the cash.
 
Stunt

Stunt

Diamond Member
Jul 17, 2002
9,717
2
0
Originally posted by: jjsole
Originally posted by: Stunt
My buddy has been following this stock; told me about it way back in March or something (6cents). It's a speculative gold exploration company with properties in peru and ecuador.

The stock is going nuts; people think the news coming Thursday or early next week will be good. I think it'll have good things to report as well. All the indicators are saying buy and the thing keeps going up. This could be a $3-$10 stock.

I bought at $0.88...currently at $1.20.

Should I take the 50%, wait for the news, put a stop loss or go long on the thing?
What should the stop loss be set to?

Thanks.
Click to expand...
:roll:
Click to expand...
The property they own is right beside ARU. ARU's stock price is ~$28, although PLE has more outstanding shares.

Exciting needless to say. Stop-loss at $1.09.
 
Stunt

Stunt

Diamond Member
Jul 17, 2002
9,717
2
0
Originally posted by: everman
Smart people know when to get out, pigs go to the slaughter. At least cash out to guarantee 25% gain imo.
Click to expand...
Quoting Jim Cramer? :p
 
JulesMaximus

JulesMaximus

No Lifer
Jul 3, 2003
74,574
972
126
Originally posted by: DaveSimmons
Hmm, this reads like classic pump and dump stock promotion (secret insider infor that will "explode" the stock price), so if you'll just switch to the black guy avatar we'll know that you're in on the scam :)

Odds are very high this is a p&d scam, so safest is to get out now before the dump phase crashes it back to 0.20
Click to expand...

Did someone say black guy avatar?:p
 
GasX

GasX

Lifer
Feb 8, 2001
29,033
6
81
Anyone buying a penny stock based on a forum post DESERVES to lose money (as does the person making said post...)
 
rh71

rh71

No Lifer
Aug 28, 2001
52,844
1,049
126
<-- wonders what the rate of success is on gambling with stocks. Anyone care to share their personal experiences ? Investment my @$$cheek. ;)
 
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