Investing in the stock market - Discussion

[nuckin_futz]

41 minutes ago, CBH1926 said:

Now it all makes sense, I think Arthur Anderson has been doing the accounting work for LK just like they did with Enron.

I do accounting work, sometimes you forget to carry over few zeroes or you get your numbers wrong by few billions.

Mistakes happen, what can you do?

Hahaha haven't heard the name Arthur Andersen in ages. Blast from the past.

 

Was just reading their Wiki article. Some funny sh** in there ........

 

The indictment also put a spotlight on the firm's faulty audits of other companies, most notably Waste Management, Inc., Sunbeam Products, the Baptist Foundation of Arizona and WorldCom.

 

In his post-mortem of the Enron scandal, Conspiracy of Fools, journalist Kurt Eichenwald argued that even if Andersen had escaped the Enron scandal unscathed, it would have likely been brought down by the massive accounting fraud at WorldCom.

 

*************

 

They had their hand in every accounting scandal of the time. LOL

Edited May 29, 2020 by nuckin_futz

[Warhippy]

REALLY hoping I got in to SNOA in time yesterday.  There's some growth there boys

[NucksPatsFan]

1 hour ago, Warhippy said:

REALLY hoping I got in to SNOA in time yesterday.  There's some growth there boys

Congratulations

[Warhippy]

9 minutes ago, NucksPatsFan said:

Congratulations

Sold the moment markets opened.  Pretty happy.  There was a run on dumping it.  Made some decent scratch 

 

MARK has me clenching my cheeks hard though right now.  My sell order is now set at $3.85 so let's see a 17% return baby!

Edited May 29, 2020 by Warhippy

[Boudrias]

You guys are driving me crazy. I could not resist so bought into PTQ-X at 1.24. With Covid their business is up 24% YOY. Either more M&A or they get taken out. 

[Warhippy]

2 minutes ago, Boudrias said:

You guys are driving me crazy. I could not resist so bought into PTQ-X at 1.24. With Covid their business is up 24% YOY. Either more M&A or they get taken out. 

Honestly, I'm just searching companies with covid related products.  I'm kicking myself over ABIO and short selling yesterday but made $ so it's ok.

 

Now with SNOA I'm kicking myself again.  Short sold to keep my percentages but GD it's flying again.

[yoshiyoshi]

MARK is taking off again. up to 2.86

[Warhippy]

Serious question for the old pros. I have a dog of a book.  It's book value is $838.44 but market value is $388.

 

Max value stock price was $72.74.  average over 5 years $36.19 but currently around $6.26.  big things potentially on horizon.  Not a long slide to current value but two significant drops and it's hovered under $10 a while. 

 

My question is, how long do you hold in to your dog's before cutting your losses?

[NucksPatsFan]

DVAX claiming they've partnered with a Chinese company that has a 99% effective covid vaccine. . . . . sounds pump and dump, the stock jumped a dollar in seconds

[I.Am.Ironman]

Stop loss on Mark triggered at 2.90 for me.. Sold half of my position. I bought in at 1.96 so no complaints about a 50% profit! Thank you @AriGold2.0

[I.Am.Ironman]

58 minutes ago, Boudrias said:

You guys are driving me crazy. I could not resist so bought into PTQ-X at 1.24. With Covid their business is up 24% YOY. Either more M&A or they get taken out. 

[HI5]

I’ve got a question about orders. 
 

I had an order for 35,000 shares, which was partially filled at 5000 shares. 
 

Now I’m watching people get their orders filled at the same price point. Does partially filled put me at the back of the line now for the other 30,000 shares?

[HI5]

18 minutes ago, Warhippy said:

Serious question for the old pros. I have a dog of a book.  It's book value is $838.44 but market value is $388.

 

Max value stock price was $72.74.  average over 5 years $36.19 but currently around $6.26.  big things potentially on horizon.  Not a long slide to current value but two significant drops and it's hovered under $10 a while. 

 

My question is, how long do you hold in to your dog's before cutting your losses?

I cut my losses and dropped 5k Monday and by Wednesday I made it back. With how the market is now, might not be a bad idea to just cut it cause theirs opportunity elsewhere.

[CBH1926]

Bumpy ride ahead!

[Warhippy]

12 minutes ago, HI5 said:

I cut my losses and dropped 5k Monday and by Wednesday I made it back. With how the market is now, might not be a bad idea to just cut it cause theirs opportunity elsewhere.

I'm debating it, but with a few announcements coming I'm going to hold one more week and see what happens.

[Warhippy]

11 minutes ago, CBH1926 said:

Bumpy ride ahead!

Yay!!

[yoshiyoshi]

Got out of EVFM at 5.5 today, a .54 loss. But looking at where it is now im not feeling too bad about it. I do need to work on cutting my losses sooner though.

Edited May 29, 2020 by yoshiyoshi

[nuckin_futz]

1 hour ago, HI5 said:

I’ve got a question about orders. 
 

I had an order for 35,000 shares, which was partially filled at 5000 shares. 
 

Now I’m watching people get their orders filled at the same price point. Does partially filled put me at the back of the line now for the other 30,000 shares?

Depends on many factors. What stock was it? Was it under a buck? Do you self direct what market center your order gets routed to? Does your broker accept payment for order flow?

 

There's not 1 cue you get in and wait. There's several. Generally speaking getting a partial fill does not put you at the back of the bus. but there are several buses. if that makes any sense.

[nuckin_futz]

2 hours ago, Warhippy said:

Serious question for the old pros. I have a dog of a book.  It's book value is $838.44 but market value is $388.

 

Max value stock price was $72.74.  average over 5 years $36.19 but currently around $6.26.  big things potentially on horizon.  Not a long slide to current value but two significant drops and it's hovered under $10 a while. 

 

My question is, how long do you hold in to your dog's before cutting your losses?

Sounds like you're in love with this stock and it's an abusive relationship. What was the plan going in? Was there a plan? Or just ride it to zero?

 

Rid your portfolio of the non performing dogs. They are dead money. That money could be put to better use. Plus it just plain sucks logging in a looking at that negative sign beside the number every day doesn't it? A constant reminder how you messed up. Take out the trash and make some cash.

 

Plan the trade, trade the plan.   <------------ that simple axiom will keep you out of a lot of trouble.

 

3 hours ago, Warhippy said:

Honestly, I'm just searching companies with covid related products.  I'm kicking myself over ABIO and short selling yesterday but made $ so it's ok.

 

Now with SNOA I'm kicking myself again.  Short sold to keep my percentages but GD it's flying again.

Are you referring to taking profits early or actual short selling?

[Warhippy]

4 minutes ago, nuckin_futz said:

Sounds like you're in love with this stock and it's an abusive relationship. What was the plan going in? Was there a plan? Or just ride it to zero?

 

Rid your portfolio of the non performing dogs. They are dead money. That money could be put to better use. Plus it just plain sucks logging in a looking at that negative sign beside the number every day doesn't it? A constant reminder how you messed up. Take out the trash and make some cash.

 

Plan the trade, trade the plan.   <------------ that simple axiom will keep you out of a lot of trouble.

 

Are you referring to taking profits early or actual short selling?

So regarding this stock, it used to be RTTR, merged with Qualigen.  Now QLGN on the markets.  They currently picked up and hold 2 incredibly promising medicines with exclusive distribution rights in China.  QLGN since the merger tanked.  I am willing to take a 30% hit on the stock but a 64% hit is unacceptable.  I know that there was risk in holding on through the merger and that the stock would dip regardless of performance but it is not a love issue so much as a refusal to accept losses beyond my accepted percentage

 

I am referring to taking profits early.  Just realized how short selling sounded.  Selling early is far more appropriate a statement.  I try to ensure my earnings exit strategy is within 30% growth, I try to keep my losses to within 10% 

 

yesterday and today I lost out on a potential $8300 because I refused to hold on knowing that by mid day or following day the stocks would drop.  ABIO did drop significantly today and SNOA is actually right in the mark of my sale price.  So I made decent money on both regardless but could have made more if I'd have been patient.  Can't complain about earnings but still...a little more steel and I'd be taking the wife to the dr for new...."accessories"