Post by mightyspuds on Oct 12, 2011 9:58:24 GMT -8
OK,MGH has been on a downwards trend since I sold. Money sitting in a Money Market Acct earning 0.001 % interest. Im serious,thats what the IRA/401K money is doing.
Start of Oct decided to buy MGH again as Ive made money there twice,buying in at .88 and .82 per share.
Bought 17,500 shares at average costs of 81.5 cents/share,14,267 dollars worth.Bought over 3 days as price fell,hitting a bottom of 71 cents and actually got a 2500 share buy at the price,next bid was 80!
It has gone up since to .97 a share today,up almost 20% in a week approx. If it rollercoasters again to the 3 dollar level,at 2.40 I will have tripled money,at 1.62 its a double.
Then I will sell again and watch it go back to 80 cents and play it again.This is my third play on this stock,all money invested is profit from the last stock plays.
Gotta do something with it,sitting there another 5 years before I can pull it out and not be killed in taxes,playing with paper profits,I like that part.
Future farm money or all a paper game I'll never see a dime of,dont know,but TODAY Im happy.2 more plays on this stock,a double and a triple,both happened in the last couple years before,and thats serious farm cash.....if the whole game doesnt implode.I got almost a triple in a nine month play last time......
Post by mightyspuds on Oct 12, 2011 13:16:29 GMT -8
Sure hope it plays well again.I dont even care if they ever produce a single oz of metal,just that others want to play this silly paper game,thats my only criteria in this type of play.
Other plays,like the Fastenal,was a solid company,no debt,constant growth,solid dividend,thats a very good stock too,just slow and steady,Im rolling dice for big bucks on the metal stock,and since its 'free' money nothing to lose with a potential killing on the upside.
Not getting greedy tho,just hungry,I dont try to pump it for every last cent,just when the profit is good,I'll take it.When it hit 3 dollars I rode it all the way down to 2.29 then sold.Clear to me the run up was well over.
Others said its down so much,no way Im selling now.They rode their profits all the way down to losses.Got greedy,wouldnt take a profit because before it was more,only saw a paper loss from top when they could still have taken a profit from their buy in by selling at 2.29.
Its these folks that make this stock profitable for others who dont marry a stock,but can sell when the gettins' good,that me.I dont need ALL the gain,I'll takes less of a gain,thats still good money.If there is such a thing.
"Make it your ambition to lead a quiet life, to mind your own business, and to work with your hands, just as we told you, so that your daily life may win the respect of outsiders and so that you will not be dependent on anybody."