RE: Re; Pump and dump1... BLZBub25k shares at a penny is real money and it doesn't take much to do that 3 or 4 times a day and some days my $230 turns into $5,000. It's great to not be greedy in this market. For years I always dreamed of hitting the big one, but that is truly dense. With CBS I have never had to invest $1 of my own money because I always sell before the days out. In the past couple of weeks I have made about $12K off this stock. I don't care if it goes through the roof or not, what would be the best scenario was if it just continued to do what it does.
The funny part is is that the first time I bought this stock it was at .34 and I bought 25k shares. That would have cost me $8,500 and today I guess I'd be down a little. Instead I don't have $8,500 of my money sitting there but I have an extra $12K in the bank. And don't even think that $230 is dense profit because I'm not ashamed to do a flip for $20. I do still have some holdings in my portfolio but I have finally realized where the real money is to be made. Greed is a monstrous entity in this market, especially the Venture exchange. No matter what bullboard you go to, everyone there will believe that their stock will soon go through the roof. I have clung on to many stocks hoping for that ARU type run. If it ever did happen I would probably dump most of my shares for a 100 to 200% profit and miss out on the 10,000% percent gains like most over there did.
Now with CBS I have already made a 150% profit off my initial investment that wasn't even my money. My point to all this is that taking a $230 profit is far from dense. I don't own CBS for a future jackpot. I own CBS because it is a very good stock to make money on just the way it is. And by the way on Friday I bought 18K at .335 and sold them for .34 for a profit of $70 after commission. CBS is my favorite stock at present because it's the easeist to read. I also do the same with others but they are not as reliable as CBS. But every day I watch for the next big story to come out because there is always another one just around the corner. I just hope and pray I never get caught up in the belief that it will go through the roof because at that point I give my control away. With TTQ I bought in at .48 after the halt and immediately put a sell order in at .62, next thing I knew I started getting a bit excited and pulled my order off the board hoping for god knows what. Then it goes right to .62 and starts coming back down. I ended up selling at .56 because I got caught by the dream.
I think the greatest weapon one can have in this market is to not get caught up in any of the dreams and stories because they are endless and most never turn out the way we had hoped. But that dreaming will never stop because the markets are run on greed and as long as people are dreaming it's a lot easier for me to do my dense trades. Learn to be happy selling your whole position for a .01 profit and don't care if it does go through the roof without you, there will be another story just around the corner that will be the exact same.
Keep a core position and enjoy when they do well. But keep your eye open for the next big story like TTQ and learn to walk in and walk out in one day never caring what happens to it in the end.
I have been in resource stocks for about 7 years and I have heard and believed so many stories, and as time goes by I'm learning to not get attached to the story and the less I believe the more money I make. I don't think it would ever be possible to be fully rid of greed, but to let go of it at every chance I get makes me a better investor and the best part is, is that I don't have to hope my stock will go through the roof one day because that is just dense. The venture exchange is amazing because these high volume penny stocks usually swing 5% to 10% per day.
P.S. I'm not here to pump or bash CBS. I just love this stock the way it is. One day soon it will slowly fade into the background as most do and someone new will come along to take its place. Try flipping a stock for .01 it's a lot better for you than you might think.
Then start doing that with about 5 stocks a day. Put a bid in a couple cents lower than the close and if it gets filled than sell for a penny and run. You'd be surprised how fast the money starts coming in and if the market looks bad hold off and wait for a real low entry because that turns into the best opportunities. Also once you set your bid don't worry at all if you don't get filled and the stock starts to really move without you, just move on to something else because the venture is just filled with them. The other thing is if the stock continues to go down get out as quick as you can. Take your loss and move on. The more you know about a stock the easier it is to read it, but if you begin to believe the dream you'll soon begin losing your money. My point in all this insanity is to learn to let go of greed, because once you do you will be seeing things more clearly and you won't be bothered whether a stock goes up or down. I always believed it was stupid to trade in and out because I would miss out on the BIG RUN UP. Go to any bullboard and read their posts, you wouldn't believe how many are waiting for the next big run up. Greed sets their target to the moon so as long as your happy with a small run up, you stand a much better chance of making some money.
I hope no one thinks I'm getting preachy or something. I just don't read much on these bullboards about greed and it is the driving force behind this whole thing, So that's why selling for .01 isn't actually dense at all. It is the movement away from greed and towards reality.