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Non-Tech : Barginstocker's Thread - Just small potatoes -- Ignore unavailable to you. Want to Upgrade?

To: Ernest R. DeSaye Jr. who wrote (34)	3/2/1999 11:29:00 PM
From: scang	Read Replies (1) \| Respond to of 73

Some thoughts on LMKI (and penny stocks)..... I have a rather large stake in this company and am in it for the long haul. Here's why.... 1. It's fun to venture into a small start-up company (I can't call Bill Gates and ask him how sales are going, but Bill Kettle will talk to me for 20 minutes!) 2. Once they start reporting, I'll bet they are more sound financially than Amazon.com. 3. I would hope that most people investing in penny stocks have their retirement money spread amongst all types of investments both large and small (and in this case, micro) 4. I believe in getting a stock as cheap as possible, however: if you are like me, looking at this as a $1.00 plus stock, you need to do the math...... 5000 shares........if it gets to a buck price/cost / profit .09 / 450/ 4550 .15 / 750/ 4250 .20 /1000/ 4000 .25 /1250/ 3750 .35 /1750/ 3250 .50 /2500/ 2500 you get the picture... My point is, if you are in for the long haul.. and set a target price, a few pennies here or there are meaningless. I do my dd and pick a target price that I feel is attainable, then I accumulate. Yes, I sometimes miss but... I've won a lot more than I've lost. I am not advocating buying too high, I'm just saying don't get wrapped around the axle over a penny or two IF you have a significantly higher expectation for the stock. If you are a day trader then none of this applies. I have missed long term winners because I tried to get in at .01 under the ask. Happy hunting and my apologies if this doesn't make sense... I could sum it up this way....If you think a penny is going through the roof, then pay the ask (within reason). If you are buying for the long term and are trying to save a penny, you probably shouldn't buy the stock in the first place because you don't have confidence in your long term target price.