3SOF

Glycogenesys, Inc. (GLGS). The Group's principal activities are to develop pharmaceutical products based on carbohydrate compounds and related technologies. The Group has developed a drug called GCS-100 aimed at treating multiple forms of cancer.

I'm sure we're going to read many bullish news from GLGS in the next few days, like the one we had on Wednesday: New Discovery Provides Mechanistic Picture of How GlycoGenesys' GCS-100 Targets Malignant Lymphoma Cells And Induces Cell Death (http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=1902317&guid=%7B38B26338%2DE787%2D4CD6%2DB1C4%2DCA1D459D4834%7D&symb=)

This company needs to be listed on the Nasdaq, its survival and prosperity depend on it. The Nasdaq Exchange has this rule: «Nasdaq Marketplace Rule 4310(c)(2)(B), which requires listed companies to have (i) a minimum of $2,500,000 in stockholders' equity, (ii) $35,000,000 or more in market value of listed securities or (iii) $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.»

Nasdaq wrote a letter to the company saying that as of June 30th it must have at least $2,500,000 in stockholders' equity in order not to be delisted. Checking GLGS's 10-Q we can see that the company had just $613,702 in stockholder's equity in 31 March 2005, when it was quoted at $0.77 a share.

With simple math we can conclude that GLGS needs to get to $3.13 a share in order to have the desired and obligatory $2,500,000 and needs that stock price until June the 30th.

That's why, I believe, the chart looks like this:

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=1112;image)

Insiders and current shareholders are pushing the price up to meet the Nasdaq's requirements as of June 30th. I think they're gonna make it, they just got a lot of money:

GlycoGenesys, Inc. Closes Second Tranche of a $6,500,000 Equity Placement to Institutions and Accredited Investors; Second Tranche Represents $4,500,000 in Gross Proceeds (http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=1902317&guid=%7B1ADB6948%2DD8DD%2D4674%2D9114%2D9F70C4C7D0CE%7D&symb=)

Every news from the company will be bullish in the next few days ... expect a lot of euphoria  to hit shares, as insiders and specially actual shareholders (that certainly don't want the company to be delisted) will search for help in this task ... and I'm going to help them buying  GLGS at tomorrow's open.

Everyday I will analyze GLGS after the market close until I sell the stock. I always tell I'm going to sell before I actually take action. You just have to follow the answers to this post.

Everyday our team scans and filters 11000 stocks to come up with the 3 best stocks to buy on a short term basis. We run a diversified public portfolio which is up 114% since May 2005 (http://www.3stocksonfire.org/closed_trades.php). We have great traders in our community which take advantage of short term opportunities in stocks.

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Glad I took position in it on Friday. With RSI at 91, you can expect the kind of momentum it showed. No doubt about its forward climb.

20 up days in last 25 days. Friday volume explosive 2023% the average.

Hi Dave

   i am curious, how does a company shove its shares higher? I can thinks of a few ways, (dont know if they are right) like offering higher bids on the stock, are their any other ways, limiting stock, buying more stock , lots of news like you mentioned ? Then my next curiosity is why they would not do that in the first place? I guess i cant figure out the mentality of the market and it kinda bugs me.    thanks   tonyg

They can do it on a short term basis, not long term or there would be no purpose for them in being a publicly traded company.

They can buy back shares, insiders can buy, make optimistic press releases to attract buyers ...

Check the IIJI post where there was a similar situation (although for different reasons).

wow David u are amazing, how did u find out the subtle story behind it?  :o
would this become a pump&dump after the end of the month? would they get investigated for the jump of price?
Thanks !  Love your advice !

Quote from: eagerlearner on June 19, 2005, 07:18:43 PM
wow David u are amazing, how did u find out the subtle story behind it? :o
would this become a pump&dump after the end of the month? would they get investigated for the jump of price?
Thanks ! Love your advice !

Lol, not amazing, just spent some hours reading things about the company ... off course, the chart had to be right or I wouldn't even look at it, it wouldn't show up on my technical filters. And remember, there are no sure things in the stock market, this analysis can be wrong. But there are plenty of reasons, technical and fundamental, to speculate on it.

«would this become a pump&dump after the end of the month?»
Shares will probably fall after the end of the month.

«would they get investigated for the jump of price?»
After what I've seen in IIJI, with the stock rising from $2 to $13 because of an IPO that never existed, with the company misleading investors (but in a legal way), I believe anything can happen ... manipulation has been in the market for centuries  :)

David, can you please change the program so it quits posting TODAY.  No way to tell anymore when TODAY is   I find some two weeks old. Please just have it post the current date.  Thank You , Bob

Quote from: bob839usa on June 19, 2005, 07:58:14 PM
David, can you please change the program so it quits posting TODAY.  No way to tell anymore when TODAY is   I find some two weeks old. Please just have it post the current date.  Thank You , Bob

Hi Bob,

When you are on the topic list, the date is the date of the last post on the topic, I mean the date of the last reply to the topic.

This board is working with NY time, but if you are on another time, you can ajust it to your time, going to your Profile, then «Look and Layout Preferences», then change the «Time Offset:» to your local time by adding or subtracting hours.

I hope this helps ;)

best regards,

Thanks Ramsburg, I understand that.  But for the sake of continuity why not have it just post the date?  Huuuum?  Bob

hey bob,

wanted to say I think the current design(for the date) is very intuitive and efficient but if you are saying that maybe an overall start date should be visible...then that might be a great idea  ;)

GLGS is showing massive positive moneyflow.  It was on my screens as well ;)  Looks like an excellent pick David.

Goodtrading  8)

I've heard the term "moneyflow" several times before.  What does that actually refer to, and how is it calculated?  What is the significance of moneyflow to a stock?

When I use the term moneyflow it means that these indicators look good: MFI, ACC/DIS, OBV, CMF  (for definitions and how to use: http://stockcharts.com/education/IndicatorAnalysis/index.html)  This is not the case for every trader.

chart:

Going in MKT or putting a limit order??, seems to be bidding higher.

Bought GLGS @ $1.85

OK I bought also, I like the story behind the action.  Nice volume start and cruised past the 200ema resistance without many issues. Resistanc around $2 to $2.1 area which I hope will turn into support during the days action.
Mike

bought at 1.93 :o

Kiss of death here.

Got in at $2.04 to watch it brick back down to $1.90.

I know it's short term but it always puts a knot in my gut to see a stock do that each and every single time I get involved.

:-* :'(

Quote from: kressad on June 20, 2005, 10:44:59 AM
Kiss of death here.

Got in at $2.04 to watch it brick back down to $1.90.

I know it's short term but it always puts a knot in my gut to see a stock do that each and every single time I get involved.

:-* :'(

No problem... I was out of the office, and got it @ 2.05 for my personal portfolio ;)

Theres no such thing as kiss of death ;) not in the stock market ;)

Entered this morning at 1.85. Stiff Resistance below $2. If it can get thru that has a good chance to fly.

Kressad,

I know how you feel -- it seems that the moment I buy a stock, it drops 10% within minutes.  (exaggeration)

I got in at 2.07  :-\

David,
when you buy at the open, do you put in a market order?  Or do you place a limit order?

Bought at 3 points: $1.8, $1.98 and $2.01 ($1.93 avg).

Guys the resistance is at 2.1 and not below 2. What you are seeing is a modest profit taking. The volume is 'twice' as strong as yesterday and it seems that it may transfer into like 50% intrday move. Goodluck all.

Thanks for the support guys.

Based on Randolph's track record with these types of plays (see IIJI) I know this is a short term loss but honestly, right now if it wasn't for BRVO I'd be wondering if there was a point to my financial existance.  ???

QuoteDavid,
when you buy at the open, do you put in a market order?  Or do you place a limit order?

I usually buy and sell at the market. But I usually don't like to buy on a gap up (a gap up occurs when the open is higher than the previous day's high), but at $1.85 there wasn't a gap up.

I said yesterday I was going to buy this stock at the open today, the stock traded on the pre-market at $1.62-$1.65. The open was at $1.85 ... but many of you guys that actually liked the story just bought above $2, which I find strange, why the wait?

Anyway, as clearly said in the analysis, I expect $3.13 by the end of the month in GLGS. Just be cool, diversify your portfolio and pay little, if any, attention to the intraday moves - I practically don't watch the intraday, that's a prejudicial vice I've left some time ago ...

Have a nice day  :)

In @ 1.83  & more on the pullback @ 1.94

Your good and Donation is coming soon

Hey David hope this goes to the moooooon!
filled at 1.90 and 1.92
looks very good so far

How about some input on next buy pt.  I missed the pre mkt of 1.65 and mkt of 1.85 and looks shaky here.  So not sure if it will still run.  Bob

QuoteHow about some input on next buy pt.

What do you mean by «pt» bob839usa? I'm sorry, english is not my mother language  :P

Quote from: TRUNK on June 20, 2005, 02:18:22 PM
In @ 1.83  & more on the pullback @ 1.94

Your good and Donation is coming soon

We've just received it ;)

Thanks a lot TRUNK !

As said I don't like to analyze the intraday, but I've been a day trader in the DAX futures for many years, so I know some tricks ...

Let me tell you this one: if a stock is up a lot in the short term and there's profit taking in the intraday, but the stock holds at or close to previous resistance (now support) and then starts clawing back by the end of the session you got a pretty good clue that the stock will make a new short term high ... that is, if a pullback doesn't turn the trend it just makes it stronger  8)

The higher the buying point the lower the percentage taken out of a sale at the estimated $3.13 end of the month target.

Of course, nothing is 100% guaranteed in the stock market, but market action is corroborating my fundamental views on GLGS.

Mr Dave,
I missed out on buying on Monday... would you suggest still getting in. And at what suggested price?

David, English is not your mother tongue; WHAT IS?  Pt=Point= Price.  Simple

Between GLGS and BRVO.ON. Which one will have a better short-term gain ?

Come on guys...  :)

This is a Portfolio Trading Strategy... Not a stock contest ;)

We disclose a lot of our strategy on each «Stock on Fire», David said his target, his reasons and even a specific time-frame for this trade... He (we) can't do much more then that... otherwise we'll have no time to find 3 stocks everyday and to check all the nice picks our members are posting on the other boards ;)

Please, take a look at this post and my reply about this subject on the Feedback board, where we disclose a bit of the philosophy behind the 3SF project:
http://www.3stocksonfire.org/trading/index.php?topic=769.0

best regards and good trades !

Now I get it.

So I will wait for David's update then  ;)

Quote from: goformoney on June 20, 2005, 10:00:50 PM
Now I get it.

So I will wait for David's update then  ;)

No problem goformoney  ;)

Quote from: aussietrader on June 20, 2005, 09:58:46 AM
OK I bought also, I like the story behind the action.  Nice volume start and cruised past the 200ema resistance without many issues. Resistanc around $2 to $2.1 area which I hope will turn into support during the days action.
Mike

Closed above 200ema, closed in the $2.00 to $2.10 resistance zone. Resistance is now support.

Quote from: Ramsburg on June 20, 2005, 09:48:21 PM
Come on guys...  :)

This is a Portfolio Trading Strategy... Not a stock contest ;)

We disclose a lot of our strategy on each «Stock on Fire», David said his target, his reasons and even a specific time-frame for this trade... He (we) can't do much more then that... otherwise we'll have no time to find 3 stocks everyday and to check all the nice picks our members are posting on the other boards ;)

What a great point Ramsburg has here. 

This is strategy(trading).  This is warfare(portfolio management) made up of these tiny battles(individual stock plays).  The battleplan is laid out and constantly updated.  The general will move his troops(equity) with precision because of enormous skill gained through   
experience. 

The track record is out there for all to see. :o  Learn as much as you can from a talent like this(David Randolph).  Especially when it is out there for free!  :o

I know that my trading skill has gone way up since finding out about this site.

Lets kick some ass(together)! and lets let the general do his thing!  8)

Amen eliteG! A-friggin-men!

There is a mountain of talent floating around on this site's boards. What I'm finding difficult is finding a way to soak it all in.

QuoteThere is a mountain of talent floating around on this site's boards. What I'm finding difficult is finding a way to soak it all in.

I agree kressad...with this site there is a wealth of knowledge and so I remember this quote(do not recall source):

" To attain knowledge, add things everyday.
  To attain wisdom, remove things everyday. "


Just found this joke...had to post:

A college teacher reminds her class of tomorrow's final exam. "Now class, I won't tolerate any excuses for you not being here tomorrow. I might consider a nuclear attack or a serious personal injury or illness, or a death in your immediate family but that's it, no other excuses whatsoever!" A smart-ass guy in the back of the room raised his hand and asks, "What would you say if tomorrow I said I was suffering from complete and utter sexual exhaustion?" The entire class does its best to stifle their laughter and snickering. When silence is restored, the teacher smiles sympathetically at the student, shakes her head, and sweetly says, "Well, I guess you'd have to write the exam with your other hand." 

David, I believe I called attention to glgs first for us in the stock picking June 17th :-* How bout the recognition ;D

Quote from: Ramsburg on June 20, 2005, 09:48:21 PM
Come on guys...  :)

We disclose a lot of our strategy on each «Stock on Fire», David said his target, his reasons and even a specific time-frame for this trade... He (we) can't do much more then that...
best regards and good trades !

Very well said, Ramsburg, and thanks to you and David for this fine site!

Let me start by recognizing that rocket88 was the first to bring out GLGS on our Stock Picking Board and I thank him for that (I'm not yet organized enough to participate in all 3SF boards, but I will, someday).

Considering GLGS I believe the stock will reach $3.13 before the end of the month and my money had to be where my mouth is. Off course I'm keeping the stock.

Seems a little weaker today that past 2 days. Consolidation or weakness???

ouch , a huge pullback of 30% ... it doesnt look healthy to me ...
what happened? ???

I guess the board is back up.  GLGS is taking a big hit today.  Any thoughts ?

Is it profit taking place or there is any bad news behind it?

I checked the news sources, but the general market action suggests its profit taking. Those guys will be back tomorrow at higher prices, I assume.

But remain on guard.

Where is the stop price?

anybody buying the dip??

i am sweating watching it freefall ... damn forgot to put a stop .
hope we didnt fall into a pump&dump by the MM's.
and i really wonder how they can reach $3+ after such a setback.

opinion?

Thanks

Hopefully just a shakedown.. I bought the dip.. Doubled up at $1.74

Today is only June 21th. It would be hard to be at $3.13 at June 30th without many shakeouts along the way. We were too close to target and too early on time. I wont even look at the stock until the end of the month, the potential reward is 70%, the risk is no more than 10 to 15% ...

Good afternoon !

thanks a lot for ur insight again david.
i feel much better now .  :D

I should have listened to my gut and sold this morning. It still may well get to $3, but I don't like holding for a .45 shakeout of my position.
Oh well, my fault. I had a mental stop in place and was too busy watching my rear on DSTI when the huge crash happened. Guess i should go back to hard stops, my carelessness screwed me this time.

Thanks Dave. You confirmed my sentiment as well.

The only thing that perhaps is looming is an engulfing candle today. Perhaps it will not confirm tomorrow. Like Dave says the deadline for compliance is still a week and a day away.

Can't wait to read David's analysis of today action...eom.

I don't see the wisdom behind the holding of GLGS, when it was very obviouse the stock had a short term pull back comming...  For those who bought at the open on Monday you had 10% to 20% on the table...now you are looking at a loss if you sold at today's close.

Could someone please tell me the wisdom behind the "hold" rather than the sell and buy it back or sell and go else where?

Well, I don't care as long as it reaches in the neighborhood of $3. I panicked (more so because I could not get on the forum) and sold at 1.76. Then bought back in at 1.86 and then it closed at 1.72. Boy, was I looking for Mylanta bigtime today. ;D
Any way Good luck to us all with GLGS ;)
P

I feel lucky to have picked some of GLGS up at 1.70....hopefully in a week I'll feel even luckier.

I feel like an idiot for not selling at 2.15 or above. i could see that the momo was fading, and even more so when it started to lose it. Unfortunately DSTI was going all over the place so my attention was there. I'm thinking there will be a recovery of sorts back around the $2 level, and if it doesn't hold, i'm out. Hopefully i'll be able to break even or better. I ebtered at 1.85. This stock could go under $1 as easy as it could go to $3.
I hope David is right on this one. His logic is sound and i respect his reasoning, but the market doesn't alsway respond to those trhings.

I have not seen a letter from NASDAQ about a deadline for more stockholders' equity but have known about this with other companies. From the latest 10-Q we see:

Total assets                 $ 3,227,191
- Total current liabilities      2,613,489    
                                            ____________
Total stockholders' equity          613,702    

The company then has to increase assets or reduce liabilities so the most common way is to sell some shares. I do not know if they have enough issued or if they will have to issue more if they take the route of selling more shares to increase their equity.

If they do have to issue more shares the stock could take a short term fall as is common due to dilution. If they have available shares then there is no dilution.

Just be aware that this could happen as I have seen this before. Also if they make a private placement it would likely be below the market price.

I only mention as several on this board are hoping for a move higher and it may happen if their recent news is so good but be aware that if they did receive a notice form NASDAQ that they will have to resolve it.

Does this 6.5 Million equity placement count towards GLGS Total assets and thus gives them much more than $2.5 Million Shareholder equity and makes the $3.13 Price Point moot.

http://biz.yahoo.com/bw/050523/235922.html?.v=1

Not an accountant so I'm confused  ???

Sorry - of course I did not read that notice - I see that the date of the note about the private placement was the same as the filing date of the 10Q so the company likely did it in part to increase equity so are probably now already in compliance. You could just call or send a note to investor relations and ask if they are now in compliance. The company note about earnings on May 23 mentions the $6.5M as being in the first quarter so not sure if it was added to equity at that time or not but not hard to find out. As far as the stock price I have no idea where you got the $3 requirement as that is for new listings - for current listing you only have to stay above $1 as you can see by the tons of stocks that trade below $3. 

"If the Company's closing bid price is at least $1.00 for a period of at least 10 consecutive trading days, the Company will have regained compliance with the Bid Price Requirement."

Metro...here is the delisting notice and the related 8-K on GLGS.

http://biz.yahoo.com/e/050412/glgs8-k.html

After the close of business on April 7, 2005 GlycoGenesys, Inc. (the "Company") received a letter from the Nasdaq Stock Market indicating that based on its Annual Report on Form 10-K for the year ended December 31, 2004, the Company does not comply with Nasdaq Marketplace Rule 4310(c)(2)(B), which requires listed companies to have (i) a minimum of $2,500,000 in stockholders' equity, (ii) $35,000,000 or more market value of listed securities or (iii) $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years. The staff of the Nasdaq Stock Market is reviewing the Company's eligibility for continued listing on the Nasdaq SmallCap Market and has requested that the Company provide its specific plan to achieve and sustain compliance with Nasdaq SmallCap Market listing requirements.

Please read the rest of the news by going to the website I mentioned above...

Hi guys ,

I don't understand too why the stock should be at least $3.13 till June 30'th , 2005 otherwise it will be delisted .
I cannot see how the delisting issue is related to stock's price ...

But let suppose that there is something behind it and the stock should reach $3.13 till June 30'th , otherwise they will be delisted ... In this case don't forget that the company got this announcement at April 7'th , so , I cannot see any reason why the company hasn't started to try to reach this price already from the beginning of April and waited till last week to start its rally to the $3.13 target ...
Any ideas ?

From this reason , I won't be surprise to see an other 25% fall today .
I've bought it at $1.75 yesterday but I'm afraid that the direction today will be far south , at least at the beginning of the trade . We'll see !

Good Luck to all ,
DJ_Broker

I see a lot of debate going on around GLGS. I read some more information about the company and it seems my analysis was not right:

«After the close of business on April 7, 2005 GlycoGenesys, Inc. (the "Company") received a letter from the Nasdaq Stock Market indicating that based on its Annual Report on Form 10-K for the year ended December 31, 2004, the Company does not comply with Nasdaq Marketplace Rule 4310(c)(2)(B), which requires listed companies to have (i) a minimum of $2,500,000 in stockholders' equity,(ii) $35,000,000 or more market value of listed securities or (iii) $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years. The staff of the Nasdaq Stock Market is reviewing the Company's eligibility for continued listing on the Nasdaq SmallCap Market and has requested that the Company provide its specific plan to achieve and sustain compliance with Nasdaq SmallCap Market listing requirements.

The Company will submit a detailed plan to the Nasdaq Stock Market that will demonstrate that upon completion of the second tranche of the Company's Series D Preferred Stock financing and the required shareholder approval for such tranche, the Company will have in excess of $2.5 million in stockholders' equity on June 30, 2005, satisfying Marketplace Rule 4310(c)(2)(B). In addition, the Company will describe its strategy for sustaining compliance with Nasdaq SmallCap listing requirements, including its planned consummation of a strategic alliance or partnership. The staff of the Nasdaq Stock Market will review the Company's plans and notify the Company if it has any questions regarding the Company's plan. If the staff of the Nasdaq Stock Market believes the Company's plan does not adequately address the Company's achieving and sustaining compliance with listing requirements, it will provide notification that the Company's securities will be delisted. In such event, the Company may appeal the staff's decision to a Nasdaq Listing Qualifications Panel. Such an appeal would stay the delisting of the Company's common stock pending the decision of a Nasdaq Listing Qualifications Panel, which generally hears appeals within 45 days of request. The Company estimates that if a hearing was determined to be necessary, it would be held in the first half of June.»

I've highlight bullish information about the company. I didn't realize that this series D Preferred Stock Financing would have an immediate effect on stockholders' equity: «completion of the second tranche of the Company's Series D Preferred Stock financing and the required shareholder approval for such tranche, the Company will have in excess of $2.5 million in stockholders' equity on June 30, 2005, satisfying Marketplace Rule 4310(c)(2)(B)»

I don't want to read anything more about this company, I'm not a fundamental analyst, I'm a trader. As a trader I need to follow simple rules and avoid getting too complex:

1) Sell at $3.13
2) Sell if I get a close below the 50% retracement level at $1.46.

As a rule I have only 6.66% of my portfolio in any given position. That's why I usually don't get nervous facing losses or wrong analysis. You people probably are not diversified enough.

But I sense many of you bought because of my wrong analysis and I'm sorry  :-\, better luck next time.

Although I find that my fundamental reasoning was not right I will not sell now, I have no technical motive to do it. And this financing, product improvement and this planned strategic alliance may add more legs to GLGS.

Perhaps if it was just me I would sell at the open, but considering what happened I feel I must pay an higher price for this mistake, something larger than 20% (but no larger than 30%, I don't admit that). And who knows if the volume and powerful advance don't have more to it?

Well, good luck to all  :)

This changes little for me. I know David wouldn't have even looked at this stock if his screener and technical analysis of the chart had not found it to be a good candidate.

I'm with you on this one David! If I have to sell at a small loss, so be it. As David said, if one stock can kill our portfolio, we are not likely diversified enough (I'm paraphrasing of course)!

Good trading!

I'm staying with it, too, but with a very short leash.

Its ok dave, we are comfortable with your decision, infact I bought on pure momo and fundamental basis. Will hold the stock.

If you cant have each one post the date then please at least have the latest ones heads up.  (at the top)  Very confusing when you pull up TODAY and it is NOT. Thanks, Bob 

OK guys ,

I'm an old trader and I can tell you from experience that it smells like an "engine heating" ...
I cannot explain it technically ( don't have any indicators for it) but it looks to me that this stock will end the day above $2.0 ...
How much above $2 I don't know , but it looks like the days when there are many buyers at the beginning of the  day ... too many !

Good Luck and check me at the end of the day !

I flushed it this morning at 1.62, for a .23 loss.
I think this is going down big but if it looks like a rebound i may re-enter later.
Too bad I was asleep at the wheel yesterday when this started to tank.

Guys - it will rebound big today . It is now $1.48 and I really thing that it will rebound big time !!!

hope you are right. I am sweating here ;)

Guys,
the 1.48 is due to bad feeling building up (Dave suggested to get out at 1.44 so many disciples here were ready to hit the sell button as soon as we got around 1.50-160
But if bad feeling becomes panic the stocks "vomits" all these weak disciples and their shares...

At this time, if you have BALLS, you collect shares and prepare to celebrate a few hours later...

Dave meant 'CLOSING PRICE' not intraday which he does not care, i assume.

Is there any news coming from the company of a possible cancer therapy, (for CLL) ?

you are right, but when it's money it's money and many people won't wait for the end of the day. They think they are smarter and they sell intraday...

I think they made a big mistake but we'll see.
If we take out the PANIC created by this I think this stock is worth at least 1.60-170 by end of the day (that is unchanged).

Dont know about any news but could be anticipated.

my apoligies to the following for bringing this dead cat to the board. I sold at 1.42 :-[ :'(

looks like it ain't gonna fly.....cut losses is the best stradegy sometimes.

Quote from: DJ_Broker on June 22, 2005, 10:40:04 AM
Guys - it will rebound big today . It is now $1.48 and I really thing that it will rebound big time !!!

On the 5 minute chart, it's put in a triple bottom at $1.42 at 10:30AM, 11:30AM and 12:20PM.  If it can take make a "higher high," and take out $1.55 this afternoon, I'd say you've got a good chance a rally.  A take out of 1.42 wouldn't look so good.

Currently 1.44 BID...1.45 ASK.  Fun to watch  ;)

Believing or NOT

if we take away 2 HUGE panic sales (at 1.55 and 1.44 bottom)
(due to David wrong ANALYSIS. That created PANIC for NOTHING. News could push the stock over $2 already tomorrow...)

today's chart is actually BULLISH !

By the end of the day we should at least stay around $1.70

Agree this is a perfect moment to amaculete! The support at $1,41 is unbreakable.
And we are going to se news probly this week! The big guys know that and that's why i think we are way above $2 pretty soon.

http://quotes.barchart.com/texpert.asp?sym=OXGN&code=BTDY

Tecnical signals looks great!

Good Luck!

Quote from: kosar_legolas on June 22, 2005, 01:29:41 PM
Agree this is a perfect moment to amaculete! The support at $1,41 is unbreakable.
And we are going to se news probly this week! The big guys know that and that's why i think we are way above $2 pretty soon.

http://quotes.barchart.com/texpert.asp?sym=OXGN&code=BTDY

Tecnical signals looks great!

Good Luck!

Kosar, those are technicals for a different stock (OXGN).   Plug in the ones for GLGS.

Thank's alltexan! You are absolutly right! But as you can se this tecnical looks even better for glgs! Overall 88% buy!

http://www.tradingday.com/tbs.html?http://quotes.barchart.com/texpert.asp?sym=GLGS&code=BTDY

I think we will end up above $ 1,70-80 before the bell. All weak hands are shaked out by now.

GLGS do have support around 1.41, though resistance exists at 1.6. Any good news in coming days and you will find this baby shooting to 2.1 [the next resistance,:)]

Agree 100%.

Stock was happily floating in the 1.70-180 area when 3stocksonfire jumped in and pushed it to 2.28...

Now that the temporary news (3.13 target in a week) disappeared we are suffering a little bit (think of people who bought over $2, I can understand them).

But with no news we should get back to 1.70 180 by today or maximum...

I'm not sure what you are talking about here. The stock shot up from 1.04 to 2.29 in 2-3 days according to my charts. It never was "happily floating along" in the 1.70 -1.80 area. This was a quick spike and a hard fall. Very typical of a penny stock like this one. I also think you give SOF too much credit for the move. I really don't think SOF had much to do with the rise OR fall of this stock. We just joined in, albeit a bit late. There is too much volume on this stock for any stock picking site to influence the price movement I believe.
Good Luck to those who still hold, but PLEASE get the facts straight.

Do we have to wait till June 30?
or Is it a long time hold position?
I think all will depend on new news on this stock

dave you are the man, repeat you are the man, but the 6% on the stock comment, and that we are not diversified enough has me bothered.  I have my own portfolio, and i always include 1-3 stocks a week from this site which i enjoy, but with all the great info, I usually put 10% in the SOF stocks, so it stings bad when they dont do what we all think.  I know its a gamble, and I love it, but not everyone has as much as you guys to have 6% in all 15 stocks, and have that 6% actually large enough to make money of a small return.  I dont know now, i just get all excited and then upset when a stock does what happened here.  Im hanging in it thou.
Thanks, keeping me on my toes

Reading through the posts, I could not help but think about market psychology and how our board is probably a very good representation of the market mentality.

When the stocks go up, we cheer! When the stocks go down, we're split. Either we groan and sell. Or we hold and hope. Or we buy more and praise the "panic-stricken" who are fleeing the stock to free it's anticipated ascent.

Guess I fall in the middle category. However, on a technical analysis side, I have noticed Mr. Bollinger is squeezing the 15-min chart, and a breakout is possible!

Hold and hope!  ;)

 I think 6% only works for big player. Otherwise, the small gain will not even cover the comissions ???

I remember David said "Don't look at the intraday". Well, I just follow his suggestions. What happened now is I have to take a 30% loss...... >:(

Just frustrated  :(

Yeah, Dave? How about us small time players, not able to cover all 15 at 6%? Anybody here? given that commissions are $5 each way (lowtrades.com), any rough ideas what should be the minimum to invest on each stock? $300? $500? $1000?  And if we were to pick from the 15, say only top 4-5, should we just joing the bandwagon & shoot for the top performers? Any guidance from anybody will be appreciated. Thanks. Dan ;)

My experience is that its better to invest 3.33% initially and then 3.33% if you feel that your first trade was a right decision [u can know that by the flying butterflies in your belly :) ].

I know paying commission hurts with small portfolio [i too have what they call 'better to invest in mutal fund one then on your own', but who cares, its my money and I will decide].

But being overweight in one stock just to save commission is surely a bad strategy. For me I keep about max of 8 positions [though not a hard and fast rule] with about half a portfolio in cash.

[8 x 6.66 = 53%] Though risky ones or pk/ob I would only invest 3.33%

I guess we all want to find out the next action.  Since we are just a bit higher than the exit level. Should we hold or should we exit with a loss?

We all experience a very furstrating 2 trading days, we can't afford to deepen our loss.

Any idea is appreciated.

Thunderblues,
It's been a painful 2 days, but I'm with stocky on this one....up to 10% in each position, lower in speculative plays, with about 8-10 open positions at any given time, because that's what i'm comfortable managing.....but this is only "right" for me, and only "right" for my high-risk money....we're each responsible for making our own decisions....fortunately there's some great stock pickers and great info on this site to help..

Developing a trading plan and applying it consistently over time will bring the best results - it's hard to block out the dreams of constant 10-baggers, but try this one - forget 100% gains, grab a calculator, start with say $5000 and project a more modest 20% gain, month over month, for 2 years.....that final number after 24 months will make the commissions less painful....i would rather pay $20 commissions on a simple $100 profit than $20 commissions on losses chasing the last one that got away

Hopefully all who post here will continue to do so in the spirit of cooperation and information sharing....learn as much as possible, make buy/sell/hold decisions as best we can, and then move on to the next day's business of making money ;)

I got in with my partial 3.33% and will add to it only if we have some 'NEWS' in the coming days.

Can't say about your. But still the kind of story behind this stock has me bullish. I am staying unless it breaks the 1.41 support and closes below it.

Read this article i found it on Yahoo discussion forum
http://www.msnbc.msn.com/id/8270980/site/newsweek/
May be this will put some heat

Quote from: calguy on June 22, 2005, 03:40:41 PM
I'm not sure what you are talking about here. The stock shot up from 1.04 to 2.29 in 2-3 days according to my charts. It never was "happily floating along" in the 1.70 -1.80 area. This was a quick spike and a hard fall. Very typical of a penny stock like this one. I also think you give SOF too much credit for the move. I really don't think SOF had much to do with the rise OR fall of this stock. We just joined in, albeit a bit late. There is too much volume on this stock for any stock picking site to influence the price movement I believe.
Good Luck to those who still hold, but PLEASE get the facts straight.

calguy, OK I've not been precise. it wasn't  "happily floating along" in the 1.70 -1.80 area. It was a spike but it was around $1.50  when SOF jumped in ($1.85).
Believe me when 100-200 people invest an average of $5000 each all at once, I garantee that can influence the price movement ...
Same thing when 50-100 people pulled back (an average of $5000 each all at once) again we are talking of BIG BUCKS in SHORT TIME.
That can strongly affect a PENNY STOCK behavior. If you we were investing in GOOGLE then I would agree with you...

What I was trying to say was:
GLGS was on its way up between 1.50 to $2 before SOF touched.
Today, after the "earthquake, we are back to last friday night
But some news could put GLGS ON FIRE again.

I've been here before, facing criticism (altough this is the first time since 3SF inception). No man alive can stay at the top playing the stock market and no one is always right in this business.

I've made a mistake and possibly I'll pay a high fee for the education. But one thing you people can be assured: everyday I will be updating my recommendations until I sell, that is, I won't run away from critics, ever. And I'm confident my market knowledge and experience will keep that «Global Portfolio Performance» growing month after month.

Before analyzing GLGS I want to say that I fully understand the thoughts, considerations and problems from our small investors members. I've been thinking about this and I know what it is to start small, having no money to diversify. So the 3 Stocks on Fire team will introduce a super small strategy for us all to learn how to turn a very small account into a big account. This will be a big challenge for me personally but I feel I'm ready for it. Just expect news from 3SF on this subject shortly.

Considering GLGS, it closed above $1.46, the 50% retracement level, so I'm keeping the stock during tomorrow's session. The last 2 days can and should be considered «normal market activity», but I understand the nervousness of you guys that have too much in stake in this stock (as said we will enter an endeavor probably never tried before to issue this - a learning process of turning a super small account, let's say $1000, into a big account). I can't buy the company, and I won't push it up, so I'll just keep going with my simple trading plan, my lifeguard in the market: sell at $3.13 or sell after a close below $1.46.

Good luck to all !

Is 3.13 still reasonable? The target sell price is 3.13 because of the delisting concerns. Is this price still legitimate?

found this from yahoo msg board from a respectable poster:

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS AND PROXY

STATEMENT

To Be Held on June 23, 2005

--------------------------------------------------------------------------------



Notice is hereby given that the annual meeting of stockholders of GlycoGenesys, Inc. (the "Company") will be held at the Park Plaza Hotel, 64 Arlington Street, Boston, Massachusetts 02116, on Thursday, June 23, 2005 at 10:00 a.m. Eastern daylight time.



The annual meeting will be held for the following purposes:



1. Election of Directors. To elect two directors to the Board of Directors, each to serve for a term of three years or until his successor is elected and qualified.



2. Increase Number of Authorized Shares . To approve an amendment to the Company's Articles of Incorporation to increase the number of authorized shares of common stock from 33,333,333 to 75,000,000.  



3. Amendment of 2003 Omnibus Incentive Plan. Consideration of and action upon a proposal to approve an amendment to the Company's 2003 Omnibus Incentive Plan.



4. Ratification of Auditors . Ratification of the appointment of Deloitte & Touche LLP as auditors for the Company for the fiscal year ending December 31, 2005.



5. Other Business . Such other matters as may properly come before the meeting or any adjournment thereof.



Stockholders of record at the close of business on April 25, 2005 are entitled to notice of and to vote at the meeting or any adjournment thereof.



We urge you to read the enclosed proxy statement carefully so that you may be informed about the business to come before the meeting, or any adjournment thereof. At your earliest convenience, please sign and return the accompanying proxy in the postage-paid envelope furnished for that purpose or use the telephone or internet voting system.



A copy of our annual report for the fiscal year ended December 31, 2004 is enclosed. The annual report is not a part of the proxy soliciting material enclosed with this letter.




By Order of the Board of Directors


/s/ B RADLEY J C ARVER
Bradley J Carver
Chief Executive Officer and President



Boston, Massachusetts



issuing new shares doesnt look good ...
any thoughts?

«2. Increase Number of Authorized Shares . To approve an amendment to the Company's Articles of Incorporation to increase the number of authorized shares of common stock from 33,333,333 to 75,000,000. »

Authorized shares is different from shares outstanding, this doesn't mean they will sell more stock, it means they will be authorized to do so. Companies are always making this, it's no big deal, I believe.

Anyway, I'll stick to my trading plan and not to pay much attention to news or research for GLGS (been burned already  ::))

goformoney  - $3.13 as mentioned earlier was a mistake as shareholder equity is not based on share price so not a figure to care about.

As was sugessted the sompany will increase the number or shares authorized. Does not mean they will sell them right away but will have them available if needed. This was expected as it is needed for the company to raise additional funds in the future.

As was mentioned by David, the 50% retracement of of this move is at $1.46 so may be a pullback target as it is also close the the 9-day EMA. A 62% retrace still would not take away from the bullishness of the chart and it is at 1.27. I personally prefer a 3 day pullback with a move back up on the third or forth day.
I put some notes on the chart for things to watch when playing any move but especially on momentum plays. It is easy to get carried away with super fast moves so remember to take some profits along the way up.

Here is the chart

http://tinyurl.com/bq3yb

David, thanks for the clarification. :)

Hi David,

QuoteIs 3.13 still reasonable? The target sell price is 3.13 because of the delisting concerns. Is this price still legitimate?

I think that goformoney posed a good question here. As a trader, do you simply stick to your trading plan, even in light of new information, when you realize your target was based on erroneous info? Or do you reset your target based on the new info?

This actually reminds me of a question from a member several days ago (sorry, can't recall which) who asked about how you know when to sell. You have made several comments that selling is much harder than buying (and I completely agree), and believe you also said you would post some guidelines about knowing when to sell.

I can't speak for the other members, but I would certainly be interested in your thoughts on when to sell (on both the up and down sides). Do you have rules, guidelines, gut feelings, or strictly following technical signals?

Thank-you.

MONEY MANAGEMENT FOLKS!!
Every time I take a loss on a stock I didn't have to take, I always look what went wrong and what rule did I ignore? In this case I didn't set a hard stop on my trade and when things went sour my attention was on another stock.
Think about this, virtually none of us should have taken a loss if proper stops would have been set. The trade was looking very good the first day, and as soon as we were in the profit zone we should have moved the stops up to break even, and trailed it up as the price went up. If we would have done this, the market would have taken us out of the trade with a small profit ans NO losses.
Stops losses are an important part of trading and money managhement, but I have to admit I don't always do it and each time I don't I end up paying in the end. I promise myself to never ignore putting a stoip on any trade in the future. I know I'll do it again, but if I remember my mistake it will make me a better trader in the future.
Hope this helps.

Speaking from my own bad experience at SNDK Yahoo Message Board about a year back, I will very strongly recommend fellow 3SF members to avoid 'Yahoo MBs' all together where ppl pump and dump and in the end you only get twisted facts. Thats the most crooked place I can imagine :)

GLGS coninuing to fall, but on very low volume.

iS THIS A SELL AT THIS POINT?  sTRATING TO REALLY GET AWAY FROM US, PLEASE ADVISE.  tHANKS

IMO it was a sell just after the bell yesterday when it failed to make any attempt to make up the huge drop from the day before. That's when I pulled the plug at 1.62 and took a loss.
I would say this fall won't stop until the $1 level or below, but that's just my opinion.
Good Luck to All

One thing could change everything: NEWS

Since beginning of May they have been releasing news EVERY WEEK.
This week nothing for now. Could be tomorrow, could be next week. There's a new lymphoma conference at the beginning of July...

keep in mind we bought for an event, the event was false, now technical is breaking, you have to keep a sell discipline or you violate evrything

I think a smart idea would be to stay in (if you can) till next news are out (hopefully not more than a week) and then see from there.

Holding long might be OK if you don't mind taking a 10-15% hit each day until news MIGHT hit.

Now let's not panic. My plan is to patiently wait until the close, then carefully study the day's chart. Only then will I confirm that I'm the dumbest lemming on the planet!  ;D

Good thing I put that stop loss in - oh wait....  :'(

Rest easy i just sold at 1.30 i'm sure that's the bottom.  It's no one's fault stuff happens, i just think a good rule of thumb is you buy for an event, and good or bad, you sell if the event does not happen.  30% loss too much to take in technical analysis, and too hard to make up.  oh well, does anyone know something about to go up 60%? :'(

fucking on fire alright.  burnt a hole in my back pocket, cant seem to find my wallet anywhere.  has any one seen my money? anyone?  What the #%$# !!! im not baiming anyone but me, but Im sure getting pissed of at me alot lately.  I need a win.
sorry venting...

Try this link for some good advice:
http://www.hardrightedge.com/wheel/hrerules2001.htm

puenthouse:  Please keep this board clean with the language.  Let's not make the 3SOF boards look like Yahoo boards.

Thanks

Guys,

Please calm down !
This website is a T2T project... From traders to traders...

Losing makes part of this game... Otherwise, the world would be full of «Bill Gates»'s

Looks like GLGS is going against our plan... Looks like a lot of people is losing a lot of money... But it looks to me that a lot of people are over-reacting at this point.
We are here not only giving stock picks, but trading in real time with an open portfolio. Well.... Real portfolios, get some real Losses along with real winnings...

It's really hard to run this project, if people start to behave like they are doing right now on this Topic.  I'm really pissed off with this GLGS loss on our records, but I'm even more with this topic and some of it's messages.

REMINDER: This is NOT Yahoo or RagingBull messages boards !!!!!

I'm sorry if I'm being rude, but I had to write this post.

Best regards to all Traders !

I'm buying at this cheap prices since i belive the stock is way undervalued. The company have promised a partnering Q3. Trial result's is waiting around the corner. I think you are making a big misstake if  you are selling now. The support at 1,28 is huge. I think we have find the bottom.
With good news we will se $3 in minutes. And remember news is around the corner!!!

BTW, thank's to the moderator  STOCKSONFIRE.COM is greatso far!

regards

Hey Ramsburg I wouldn't worry about it so much. You really can't stop some one loading up on 1 stock 100% and be the first to complain on any losses. This is an open message board and as such, unless it is restricted by some means you will not be able to prevent opinions good or bad.  Ultimately people should realize this is all risk, and if you follow any pick its on your own risk. Hey I took a hit not once but its part of the game, no one can bat 1000%

Best of luck to all!  ;)

Comon guys, losing is part of the game. I too took some big losses in MTDX and minor one in GLGS. But I have two choices, either quit or learn from it. And I am sure those who lost big wont be running away, and neither am I.

that's the spirit stocky, market is here to stay and so am I  ;D

If your going to play this game,,expect losses.Make the trade with the thought in mind "What is the worst case scenario if i am wrong"?And only trade $ that you can afford to lose on a given trade.And review each losing trade to see where you went wrong.A losing trade is never a fun thing but what is worst is to repeat the same mistakes time and time again.Remember also there has been some great trades posted here"IIJI",etc. :)

Ramsburg
You are great dude. I have learnt a lot from you.

Winning and loses are the part of this game.

Quote from: calguy on June 23, 2005, 03:10:30 PM
Try this link for some good advice:
http://www.hardrightedge.com/wheel/hrerules2001.htm

applaud for the link.

Quote from: netman on June 23, 2005, 05:30:09 PM
Ramsburg
You are great dude. I have learnt a lot from you.

Winning and loses are the part of this game.

applaud for the 'pic' [literally]

I got some today just to get on board but will wait to add until I see it reverse which should be tomorrow as the vol was way down today and the stock stayed exactly above the 62% retrace so still in bullish mode as is a "normal" pullback at this level.

Usually it is not a good idea to add to a position at a lower price to "average down" but with a tight stop and good timing it can make up for a loss. As an example to buy close to the 62% retrace and give it only a couple of cents on the downside could work out with minimal risk.

I posted this chart earlier to show the 9-day bounce point or the 62% retrace point and so far the 62% is holding so we will see how it does tomorrow.

Chart

http://tinyurl.com/dhwwm


(the ranking system is interesting - I noticed I had 121 until I posted the note about the $3 target was based on a wrong idea - then it fell to under 10 - gee - don't blame the messenger --)

anyway the market made a nice correction today down almost to the 32% retrace and to the 200-day EMA so a bounce is expected short term. Will be fun to watch and here is the chart --     http://tinyurl.com/aedsj     

I sold GLGS near the close for a whopping 28% loss. With 6.66% of portfolio invested in it I lost about 1.9% of global equity. On «Trading for a Living» from Alexander Elder it says: «Not risking more than 2% of total equity in any given trade is a sound money management rule».

The stock closed below $1.46 which was my selling threshold so I did sell it. This trade will stand on record as the worst trade in 3 Stocks on Fire history, at least until now, I hope forever.

Of course the stock was to be sold immediately after perception of a wrong analysis (I told I would do so if I were alone in this stock). I bought at $1.85, then found out I was wrong and the next open was $1.72. I could have lost just 7% had I sold at that open. But as anyone here I'm learning, and I know that in order not to forget big lessons I must take a good size charge. Off course, seeing so many of you guys hooked up on this because of my analysis made me go down in sympathy ... the captain is always the last man to leave the sinking ship.

I've lost $4,240 on this trade, so no one is more upset with this than me.

Now, what should a speculator do after something like this happens? Take the lesson, pay the tuition fee and move on to another speculative venture.

I'm not asking anyone to follow my analysis, I'm just a trader with a public and open portfolio. Here you can see how I pick stocks, what is the reasoning behind the trades, and hopefully, together with your comments, we can learn something about the stock market.

Taking on a suggestion made on this thread I will start a Sticky Post with some clues about selling, a much harder task than buying a stock ...  and that's all to it, good night.

David & Frederick,
You are doing a great job. I am learning from your open analysis of the stocks. I appreciate your generosity.

Puenthouse please observe civility and read the forum rules!

Thanks.

David its ok. We understand your decision. Looking forward to your exciting 1million board picks. That may be something which small traders like me could be happily trading. 

Quote from: David Randolph on June 23, 2005, 06:10:33 PM

I sold GLGS near the close for a whopping 28% loss. With 6.66% of portfolio invested in it I Of course the stock was to be sold immediately after perception of a wrong analysis (I told I would do so if I were alone in this stock). I bought at $1.85, then found out I was wrong and the next open was $1.72. I could have lost just 7% had I sold at that open. But as anyone here I'm learning, and I know that in order not to forget big lessons I must take a good size charge. Off course, seeing so many of you guys hooked up on this because of my analysis made me go down in sympathy ... the captain is always the last man to leave the sinking ship.

Gosh, David, I sympathize. 

You chose to play The Sacrificial Lamb in this trade, and it wasn't necessary.  It's a "Phantom Sacrific,."  especially if your Body Of Work isn't taken into account, and appreciated.

Life deals us enough pain.  We don't need to administer pain to ourselves.  You admitted that your analysis was wrong.  At that point, everyone is on his/her own.  In addition to having great insights into the market, you are an extraordinarily kind, generous man. Almost to a fault, but I don't mean that as a negative criticism.   :) 

If there's anything for YOU to learn about this trade, it isn't about money, in my opinion.  Don't give yourself away so completely that it drains your energy.  You are taking FAR too much responsibility for the mistakes of others. 

Thank you for creating this wonderful forum, David.  I applaud you.

David & Frederick,
You guys had a great ideal when you came up with 3StocksOnFire.I'm proud to be a member.Thank you.
Thank you...starfire,for your comment.Let's do be civil.We are not here to bash each other.As Frederick Ramsburgh has said,T2T.I would hope that we all could learn from each other.There are good stock heads here.I know I have learned things already from other members.I welcome the opportunity.
If I make a decision to follow another member's recommendation and buy a stock,that is my decision.If the trade goes sour and it becomes evedent that this trade is going to be a loss.Then I am not going to come back on you and bash you with foul words.It was your decision to make your buy, and it was my decision to make my buy.The other member did not twist my arm and say here you must buy.We must accept the outcome on any given trade, win or loose.
I hear talk on the topic boards about the business of average down in your buying.I would never take this approach in buying stocks,and never would advise any trader to do so.I am 50 years old,no need to hide my age.I have been interested in the stock market since I was a young teenager.I have been trading in stocks since the age of 20,I have built a nice portfolio over those years.I say ,I have learned things from other members here.It is true, I have.We never are to old to learn new tricks.I have read a number of business and investment books over the years.The best one IMHO was called "How to Trade in Stocks"by J.Livermore.From this book I adopted his method of averaging up,or pyramiding.I always in my trading average up...."not down"..
This is a great website with some very knowledgeable stock pickers.So if a trade goes red,let's not take to the underhanded tactics of those other message boards. We all can learn from each other and extend help to our fellow member,I know we each have a little to offer.
So let's be civil and make 3StocksOnFire even better than it is.
Best Regards....and good luck in all your trades.

Hello David and Frederick,

I have been lurking on this site for quite sometime and have been amazed at the level of talent here.  I am now ready to follow some of your trades with real money.  I have 2 concerns...

1) I'd rather stay away from penny stocks due to liquidity reasons.  6.66% is a great idea but often times I am afraid it would require me to purchase a massive number of shares that I am afraid would be hard to sell when it comes time to do so.  Do you think it's wise if someone follows only your non-penny trades?

2) I think a big part of good trading is to do so in the context of the broader market.  Would it be possible for you to comment from time to time what your thoughts are on the overall market.  I read nearly every posts made here each day

I understand that the biggest things one can take away from your 3SF portfolio is the trading strategy and the importance of diversification, not necessarily each individual picks.  However many of your picks are golden and quite impressive.  Please keep them coming  :)

Thanks for your wonderful forum.

Hi netfishmademerich,

Our strategy is based on a 15 stock portfolio, where we mix a majority of regular stocks, with some pennys... the result is based on this... not only the pennies, and not only the big board stocks ;)

I don't personally recommend anybody to follow our picks, but I think our trading ideas and strategies are the best asset we do have to offer.

About the broader market, yes, you are right, we should make more regular analysis on it... I used to be an active NDX Futures trader, and I can start making some analysis on the index. I'm sure David will also post some comments on the indices.

regards !

short term gains newsletter alert-GLGS
mention in a recent bulletin at greenbackers com.....June 22, 2005 3:01pm es


attracted to:


not much movement from prior mentions, however FNSR and DFIB are trading solid, and have refused to pullback at all.
dfib - 1.05 0.05 100 + 1.05 1.06 17 X23 1.08 1.01 782,147 NASDAQ NMS
fnsr + 1.11 0.03 100 + 1.10 1.11 342 X718 1.11 1.08 1,979,129 NASDAQ NMS

2:21pm est

frankly just about all the risk has been taken out of FNSR.....it might take a while to rebound, but it is a good least downside risk candidate for the more defensive porfolios....


GW has actually upped about a nickel from prior in fairly steady fashion, so there is going conviction 7.15 will hold......stock had run up to 8 recently.....so entry at 7.20 does represent a 10% pullback on this oil drilling provider play......suggest review of their prior qtrly 10q rpt...excerpt from it:



time to take notice of NMGC recent uptrending....it's for real.....to .70 into the month a reasonable target....explosion potential.....go back and review their earnings..


although only seeing slight upside in CMGI daylong, the stock is acting considerably stronger then it has been in over a week.....don't think we're going trading in 1.80 range any longer......growing confidence it will see a rally back above 2 into the month....








best upsides


failed to mention DCEL as best upside mention prior......solid uppng into the afternoon also...
At 12:16PM ET: 4.35 0.34 (8.48%)






20+

unocal stock watch...recall cramer bullish input yesterday.






5-10



recall buy on dips below 9 for MLNM and 7.20 for GW.....updates
gw - 7.21 0.06 200 + 7.20 7.21 65 X47 7.32 7.16 1,852,100 AMEX
mlnm + 9.15 -0.16 1000 - 9.14 9.15 127 X33 9.43 8.88 6,885,718

2:12pm est








2-3


EXXA has been upping from 1.60 to 2 in thelast two weeks.....a colleague of ours John Soria has been pounding the table on them along the way...comments below



noteworthy news from earlier we failed forward
InPlay: Therma-Wave retains Needham & Company as Strategic Financial Advisor to review strategic objectives
Briefing.com (Wed 8:30am)





1-2



SVVS afternoon pullback support at 1.10 is 14% off of intraday highs
svvs + 1.11 0.08 100 - 1.10 1.11 140 X51 1.26 1.05 2,020,979

2:39pm est






GLGS two day extreme pullback following runup to 2.35
GLGS 1:25pm 1.45 -0.27 -15.70% 1,167,244 78,871 1.72 1.42 - 1.88




under 1


NMGC seeing another pickup......stock has been in a three week uptrend from .40 since bullish earnings...recall pullback support comments at .50 last week..
nmgc + 0.64 0.06 1000 + 0.63 0.64 3 X346 0.65 0.58 666,075 NASDAQ NMS


6/22/2005 2:51:31 PM (EST






gb porfolio:

we unloaded the rest of our ZAPZ position ast 1.66 earlier.....topping out yesterday became increasingly evident after lack of follow through into today...


we re-entered GW at 7.23 within the last hr. buy/hold strategy for swinging back to upper 7 range....... stop loss at 7 / initial target 7.60.

I could be wrong but my opinion is that selling now doesn't make much sense (except if you absolutely need the cash).

This company is coming up with news every week. It's as simple as this:
we bought on a high (not very smart but we have been fooled) and now we are selling on a low.!??!

The only reason to sell is if we think GLGS  is a complete scam. If you don't, they could come up with an update on their GCS-100 even today (or next week). That would bring the price up in no time. Then I would sell if, again, I think this is not a company for me.
But why selling on a low? (also check the other 3SOF stocks, the market in Summer is always in trouble, so switching quick to something else could not be very smart either)

Hi Frank,

I hear (er, read) what you're saying. But how do we know where the bottom (low) really lies? Therein lies our challenge. I've been hurt by the downward spiral where I've assumed the stock cannot go any lower - and it does! Maybe it will come back later. But if it continues to drop, and you've already taken your lumps (loss), you can always go back in if you want at a later date. In 90% of my post-mortem analysis, I find that if I had sold the stock at a disciplined stop limit, I would have made more money on rebound stocks (assuming I re-purchased at a lower low).

I am a great believer (now) in putting in stop losses and sticking to rules. I've lost waaaay too much money hoping for rebounds....

Thunderbunny, at this point I would do some chart analysis.
Last Friday's news pushed up the stock from $1.25 to about 1.75 where the mess began. Now we should stay in the 1.20-130 area till next news (if they don't take too long).
But if you don't keep an eye on this one (and you sell at 1.25) when you'll try to get back in it will be already too late.

If nothing else, the selling appears to have slowed.  Hopefully we're finding a bottom.

Hi Frank,

I think you're absolutely correct about selling at $1.25.

I bought initially at $1.80 (2k shares). So if I sold at a 7% loss, say about $1.67, I'd lose $260 (plus commissions). If I then decided to buy back in at $1.25, and the stock jumps back to $1.80, I will have made $840 ($1,100 gain - $260 loss). If I just held on, and the stock goes back to $1.80, I will have made nothing (and still be out the commission).

Make sense?  ???

Looking at my screen in the last few hours, many smart people bought 12K, 10K, 15K, shares at these prices (while the small guys were selling)...

The market perceives the value of GLGS is $1.23 and here is why:
BOSTON--(BUSINESS WIRE)--May 23, 2005--GlycoGenesys, Inc. (Nasdaq: GLGS - News), a biotechnology company focused on carbohydrate-based drug development, today announced that it has closed on the second tranche of a total $6,500,000 equity offering to institutions and accredited investors. The Company issued 4,500 shares of convertible, redeemable Series D Preferred Stock, currently convertible into 4,500,000 shares of common stock, and warrants to purchase 4,500,000 shares of common stock currently at $1.23 per share for gross proceeds of $4,500,000. The terms of the Series D Preferred Stock and warrants were described in a Current Report on Form 8-K that the Company filed with the Securities and Exchange Commission on March 8, 2005.

That was true 4 weeks ago (May 23rd).
After that, there have been 4 very bullish PR. That's why I would think today's price is a must buy.

Frank, buy more of it if you must, but you should remember that only 8 days ago this stock was .88, and a short month ago it was .71. The price and volume looks to have peaked on June 21. My gut tells me this goes back under $1 within a few trading days. I hope i'm wrong, for your sake, but trying to buy more of a stock gone bad to me is like throwing good money after bad. Sure, once it a while it can pay off, but in the long run it is a losing stradegy. Better to flush a bad trade ASAP and try to make it up somewhere else in my humble opinion. I always remember a quote from one of my stock study books, "Last one still in the pool gets to swim with the turd"

Calguy, thank you for your suggestion but the important thing is the time frame. While it's sure by the end of today it won't get back to $2, it may by next week...

If your temporary loss is too big for you, you're right. If you can hold off on it, wait, eventually it will go up (if the company is not a scam, and again, I believe it's not).

If you look at the recent history (last 3 years GLGS had many spikes up and down sometimes very close one to the other), GLGS trend is unpredictable.

I have reached my end on this one, and see little reason for it go substantially higher.  Seeling off my holdings.

Frank, If GLGS goes back up to where you can make a profit, i'll be the first to congradulate you. Good Luck, hope it works well for you.

thanks, good luck to you calguy.

All I can say, is in troubled times as the market is having right now, have sell disciplines.  Through years of investing you learn quickly that if you lose 50%, you need to double your money to breakeven.  Doubles are certainly hard.  Every person needs to impose there own tolerance.  I like this site as there are a lot of good minds, however some cconstructive criticism, is that there is not enough guidance as stocks are dropping.  Hand holding is always welcomed

Quote from: Adam on June 24, 2005, 02:55:12 PM
All I can say, is in troubled times as the market is having right now, have sell disciplines.  Through years of investing you learn quickly that if you lose 50%, you need to double your money to breakeven.  Doubles are certainly hard.  Every person needs to impose there own tolerance.  I like this site as there are a lot of good minds, however some cconstructive criticism, is that there is not enough guidance as stocks are dropping.  Hand holding is always welcomed

I think it would be a good idea to include stop loss suggestions along with Stock calls. I know David must use them, so it would be nice to include them as part of any recommendation.
I think some of the newer traders need to be reminded constanlty the importance of risk management, even when buying a stock an 'expert' suggested they buy. We all need to take personal; responsibility for all our OWN trades, no matter who brought them to out attention.

For those who bought on David's advise.... David if you are still reading these posts... what do you see going on with this stock now... will it continue to fall, level off, or perhaps start a gradual climb? I hope... ???

GLGS filed a prospectus today, too bad my stop was reached today, the impact of this prospectus might have some interesting effects on monday

http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001193125%252D05%252D131042%252Etxt%26filepath%3D%255C2005%255C06%255C24%255C&symbol=GLGS#D424B3_HTM_TX83800_2

China,
I can't get your link to open... whats it saying?

Quote from: Adam on June 24, 2005, 02:55:12 PM
....  I like this site as there are a lot of good minds, however some cconstructive criticism, is that there is not enough guidance as stocks are dropping.  Hand holding is always welcomed

Amen! I for one would appreciate hand holding advice on the way down. While at the same time, I do realize the trade is my responsibility. But I am sincere when I say that the more I make from trades advice from 3SF the more I will be more than willing to contribute to keep this fine site working. I have searched for two years of a site of this quality. All this is growing pains which will make a great site even greater.

At the same time I must say that I appreciate all the hard work which is obviously being done to get 3StocksOnFire working and ongoing. 

You can try this, but it's not much help either - sorry.

http://www.pinksheets.com/quote/news.jsp?symbol=glgs

You might also want to take a look at the yahoo message-board:

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=13247489&tid=safs&sid=13247489&mid=34012

I dont have any GLGS myself.

I'm still holding. News out.

GlycoGenesys, Inc. GCS-100 Cancer Drug Candidate Subject of Abstract in The American Society of Hematology's Annual Meeting Abstracts Book 
12/15/2005 8:30:01 AM 
BOSTON, Dec 15, 2005 (BUSINESS WIRE) -- GCS-100's Target, Galectin-3, Widely Expressed in Multiple Myeloma

Multiple Myeloma Clinical Trial Enrolling at Several Sites in US

GlycoGenesys, Inc. ( GLGS ), a biotechnology company focused on drug development, today announced that its cancer drug candidate, GCS-100, was the subject of an abstract published in Blood, the official journal of The American Society of Hematology, in connection with the Society's 47th Annual Meeting.

The abstract entitled "Expression and Modulation of Carbohydrate-Binding Protein Galectin-3 in Multiple Myeloma Cells by Combined Treatment with GCS-100 and Dexamethasone", was authored by researchers at the Dana-Farber Cancer Institute, Harvard Medical School, Boston, MA and GlycoGenesys, Boston MA.

As background, Galectin-3 (Gal-3) is a carbohydrate-binding protein that is one of the targets of GCS-100, a complex carbohydrate drug candidate that is currently in clinical development for treatment of multiple myeloma, solid tumors and a clinical trial for chronic lymphocytic leukemia is planned to initiate before year-end. Gal-3 is an important protein involved in multiple cellular processes including growth, differentiation, adhesion and programmed cell death (apoptosis). It is known to play a role in the transformation and metastasis of tumor cells. Previous studies have shown that Gal-3 expression inhibits the mitochondrial release of cytochrome-c, a key protein involved in the induction of apoptosis, or programmed cell death.

The abstract shows that Gal-3 is widely and differentially expressed in a variety of multiple myeloma cell lines and patients' cells. The authors' reported that GCS-100 binds to Gal-3 and can trigger apoptosis in multiple myeloma cells as well as enhance the anti-tumor activity of the conventional agent, dexamethasone. Additionally, sub-toxic concentrations of GCS-100 and dexamethasone were shown to markedly decrease the expression of Gal-3 in multiple myeloma cells and lead to the release of cytochrome-c. This new data suggests that GCS-100 and dexamethasone can overcome the inhibitory effect of Gal-3 on cytochrome-c to cause programmed cell death. In conclusion, the authors propose that inhibition of Gal-3 may augment the anti-tumor activity of therapeutic regimens.

In previously published papers, GCS-100 has been shown to induce selective programmed cell death in multiple myeloma patient cells, including those refractory to traditional chemotherapies such as dexamethasone, Velcade(R), and Thalomid(R).

Bradley J. Carver, CEO and President of GlycoGenesys, Inc., stated, "Recent publications including this ASH abstract continue to support the design of our current Phase I/II clinical trial, which is evaluating GCS-100, alone and in combination with dexamethasone, to treat patients with multiple myeloma. Since Galectin-3 is widely expressed in multiple myeloma cells, its inhibition by GCS- 100 may increase the anti-tumor activity of existing therapies. We look forward to reporting on our clinical trial results next year."

Abstract #4447 appears in Blood, Volume 106, issue 11, November 16, 2005

Keywords: Glycoprotein|BCL2|Experimental therapeutics

Wednesday, November 30, 2005

http://www.abstracts2view.com/hem_ash05atlanta/view.php?nu= HEM05L1_3831

(Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

About GlycoGenesys, Inc.

GlycoGenesys, Inc. is a biotechnology company focused on carbohydrate drug development. The Company's drug candidate GCS-100, a unique compound to treat cancer, has been evaluated in previous clinical trials at low dose levels in patients with colorectal, pancreatic and other solid tumors with stable disease and partial response documented. The Company currently is completing a Phase I dose escalation trial to evaluate higher dose levels of GCS-100LE, a low ethanol formulation of GCS-100, at Sharp Memorial Hospital, Clinical Oncology Research in San Diego, California and the Arizona Cancer Center in both Tucson and Scottsdale, Arizona. In addition, GCS-100LE is being evaluated in a Phase I/II trial for multiple myeloma at the Dana-Farber Cancer Institute in Boston, Massachusetts, Roswell Park Cancer Institute in Buffalo, New York and Emory's Winship Cancer Institute. Further clinical trials are planned 2006. Further information is available on GlycoGenesys' web site: www.glycogenesys.com.

Safe Harbor Statement

Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, risks of product development (such as failure to demonstrate efficacy or safety), risk related to FDA and other regulatory procedures, market acceptance risks, the impact of competitive products and pricing, the results of current and future licensing, joint ventures and other collaborative relationships, risks relating to raising sufficient capital to fund the Company's operations, developments regarding intellectual property rights and litigation, and other risks identified in the Company's Securities and Exchange Commission filings. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE: GlycoGenesys Inc.

GlycoGenesys Inc.
John W. Burns, 617-422-0674
Senior Vice President and CFO
or
Rick Pierce, 617-422-0674
VP of Business Development
or
The Ruth Group
Investors:
John Quirk, 646-536-7029
or
Media:
Janine McCargo, 646-536-7033


Copyright Business Wire 2005

Bad news!

GlycoGenesys, Inc. Announces Chapter 11 Filing, Reduction in Work Force and Senior Management Changes 
2/3/2006 8:00:37 AM 
Company Significantly Reduces Expenses To Pursue Strategic Alternatives While Maintaining Multiple Myeloma Clinical Trial

Feb 03, 2006 /PRNewswire-FirstCall via COMTEX/ -- GlycoGenesys, Inc. ( GLGS ), a biotechnology company, today announced that it and its subsidiaries have filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the District of Massachusetts. In addition, the Company laid off over half of its work force and effected senior management changes to allow it time to pursue strategic alternatives including a sale of the Company. As a part of this effort, the Board of Directors appointed John W. Burns, the Company's Senior Vice President and Chief Financial Officer, to the additional positions of Interim Chairman of the Board of Directors and Treasurer and Frederick E. Pierce, II, the Company's VP Business Development, to the additional positions of Interim Chief Executive Officer and President.

Bradley J. Carver has stepped down as the Chief Executive Officer, a position he held since June 2000. Mr. Carver will continue to provide services to the Company as a consultant and remain a member of the Board of Directors.

Dr. Burns and Mr. Pierce, together with other retained employees, will utilize their extensive backgrounds in healthcare and finance to pursue strategic alternatives for the Company while in Chapter 11. Through work force reductions the Company has recognized an immediate reduction of over 40% of its payroll beginning February 1, 2006.

"We are concentrating the Company's efforts on significantly reducing and containing monthly expenses in Chapter 11, maintaining our multiple myeloma clinical trial, and securing a strategic alliance or other alternative to enable the Company to emerge stronger from Chapter 11," said Mr. Pierce.

Dr. Burns has been the Company's Chief Financial Officer since January 2000, a Senior Vice President since March 2001 and a Director since June 2002. Prior thereto, Dr. Burns was the CFO/Senior Vice President, Finance & Business Operations for South Shore Hospital, a regional healthcare services provider based in South Weymouth, MA, from February 1993 to February 1999. From January 1989 to December 1992, Dr. Burns was the Vice President/Treasurer and a subsidiary CFO/Vice President, Finance for Eastern Enterprises, a NYSE company. Dr. Burns has also held corporate finance and treasury positions with Allied-Signal, Citicorp Investment Bank and International Paper. He began his career with Ciba Giegy (now Novartis) as a biostatistician. Dr. Burns holds a Master of Business Administration in Finance from New York University and holds a Doctor of Philosophy in Mathematics from Stevens Institute of Technology.

Mr. Pierce has been Vice President of Business Development for the Company since August 2002 and Vice President of Finance and Investor Relations since June 1998. Prior to joining GlycoGenesys, Mr. Pierce was at Lehman Brothers, where he was the New England private client services liaison to healthcare investment banking. In addition, Mr. Pierce had over seven additional years experience at Kidder Peabody and Merrill Lynch. Mr. Pierce received a B.S. in chemistry from Hampshire College.

About GlycoGenesys, Inc.

GlycoGenesys, Inc. is a biotechnology company focused on carbohydrate drug development. The Company's drug candidate GCS-100, a unique compound to treat cancer, has been evaluated in previous clinical trials at low dose levels in patients with colorectal, pancreatic and other solid tumors with stable disease and partial response documented. The Company currently is completing a Phase I dose escalation trial to evaluate higher dose levels of GCS-100LE, a low ethanol formulation of GCS-100, at Sharp Memorial Hospital, Clinical Oncology Research in San Diego, California and the Arizona Cancer Center in both Tucson and Scottsdale, Arizona. In addition, GCS-100LE is being evaluated in a Phase I/II trial for multiple myeloma at the Dana-Farber Cancer Institute in Boston, Massachusetts, Roswell Park Cancer Institute in Buffalo, New York and Emory's Winship Cancer Institute, Atlanta, Georgia. Further information is available on GlycoGenesys' web site: http://www.glycogenesys.com.

Safe Harbor Statement

Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, risks that the Company's securities will lose all value in a Chapter 11 bankruptcy, risks relating to raising sufficient capital to fund the Company's operations, risks of product development (such as failure to demonstrate efficacy or safety), risk related to FDA and other regulatory procedures, market acceptance risks, the impact of competitive products and pricing, the results of current and future licensing, joint ventures and other collaborative relationships, developments regarding intellectual property rights and litigation, and other risks identified in the Company's Securities and Exchange Commission filings. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE GlycoGenesys, Inc.

Rick Pierce, Interim Chief Executive Officer, or John W. Burns, Sr. VP., and Chief
Financial Officer, both of GlycoGenesys Inc., +1-617-422-0674

http://www.prnewswire.com


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