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Microcap & Penny Stocks : GTCI - get in before the news hits -- Ignore unavailable to you. Want to Upgrade?

To: ksuave who wrote (181)	12/31/1998 1:35:00 PM
From: Jay Hardy	Read Replies (1) \| Respond to of 1541

It is easy to buy. The thing is to sell when it goes up. I think the steady risers are good and you can count on it selling at the bid/ask. The days, however, that the bb's explode is when it's hard to cash out. For instance. When the stock opened at 2.1/8, I had placed a sell order of 5K @ $1.1/2 the previous night and that was never filled. The same has occured several times on other BB's for me. I know JEM has traded out with luck and I have too but it is a guessing game to sell not being able to rely on the bid/ask. I'm expecting this stock to hit $3 early next month, but I think I'll have to put a sell order in at $1.5 to insure that it gets filled (this is if it's a one day runup). Of course on a daily gain of 10% or so you'll be able to cash out but the fun and excitement comes from those big days where it's exhilarating to skewer a 3-5 bagger. Those days the MM's get all the gravy (I think anyway). On the big board in all three markets when the stocks explode you can always get within 90% of the posted ask. This year I was lucky to be in 3 blowout stocks the days they went up and down 300% or more. In each of those stocks I was able to questimate a sell price before the market and place and order and they all executed. With both PLFM and INNI the orders I placed prior to the market opening and much below the days high never executed. (Yes, JEM, Marshall, Bob, Chris, and Yongzhi I'm into those two because of you all and glad for it; next year I owe you a couple good ones, like Real Networks and Amazon from my area in Seattle). That doesn't settle well with me and warns me about what can happen- which is nothing. It's a warning, that's all, that on day that the stock explodes you can't count on participating in the jubilation. To those that have had success selling BB's on those kind of crazy days I'd certainly like to here about it. So, in ending, I normally calculate what the next days peak spike price is going to be following a big first day. I determine this by looking at the general market and calculating what the slush of speculative money is for that week. I guess what percentage of that money will go into the stock. I than look at the float of the stock and come up with a chart that looks like a bell curve and fit that amount of money within the area under the curve. That will adjust the peak price. I than place a sell order for X shares at a price 10% below that price peak. That has always worked for me on the three stock exchanges, it has yet to work for me on BB's. So I'm thinking I'll have to adjust from 10% under to 30-40% under the peak price estimate. Enjoy the New Year, I'm going back out into the woods for a week.