To: JOHN WHITE who wrote (15075 ) 3/2/2000 7:28:00 PM From: BlueCheap Read Replies (1) | Respond to of 15313
Web, John White is EXACTLY Correct. Over time I have developed a strategy which has worked VERY well for ME. That doesn't mean it would for everyone. Patience always pays off and if one has a little risk tolerance, buying more shares at a little lower price can become very profitable. Let me tell you about MY first BUY into FNTN in 1997. I bought 10,000 shares at .30, later it dropped like a rock to .14 cents. I picked up 20,000 more at .17. With patience I was given the opportunity to sell those shares at .53, ovwer doubling my investment. I patiently waited for the stock to pull back and it did, then I bought 50,000 at .25 Opportunity came to sell those at almost $1.00 and I was out at .82. Back in at .58, out at $1.21 & $2.06 when FNTN ran to $2.25. Traded it several more times and out for a while. Been back in 3 or 4 times at .12 up to .50. However, IF I am not VERY careful, one of these days FNTN could take off to some impressive NEW HIGHS... In fact I intend to take a position and perhaps I can contain my desire to TAKE Profits and HOLD a CORE. Now let me tell you what it feels like to get LEFT standing at the airport watching YOUR Jet Take OFF. I had traded LGOV since 1995, trading it from .10 cents to .50 or a little more. Late 1999 I had a 30,000 share position in LGOV at .095 cents. It Ran to .40 and as usual I was OUT with a nice profit patting myself on the back once again. It did drop back to .25 but I was going to wait for .10 again, why not it ALWAYS HAD. Well, LGOV took off to $3.90. My $3,000 investment at $3.50 would have had a value of $105,000 or a $102,000 Profit..... This SAME thing happened to me recently in FONX and also in WITD (now EPWN) also in MCTL. Heck I had 50,000 shares of USHO recently at .01 cent and sold the very next day for a little $125 profit because I didn't expect anything. Within two weeks USHO hit .35 cents. My little $500 investment even at .30 cents would had been worth $15,000. So you see, I'm not so smart. Now I am consistant, with very few loses, which can happen. I know because #1. I put TOO much into one in 1996 and had a great profit but I stayed in TOO Long and lost it ALL, $110,000. Now THAT will MAKE you TAKE at least your original investment OFF the Table, which I consider a WISE move for anyone in this penny stock game... Just thought I would share all this and say that John is right. One can make HUGE Profits by Holding a CORE position. These are my Thoughts and Perceptions. Malcolm BlueCheap