3SOF

i have the same bad habit of catching falling knives. I thought GV at 2.25 was too good to pass up. I'm going to hold GV and hope that when gold prices rise, it will bring in some people who havn't done their research on what the company actually does tehee

Off Topic, but is anyone else besides me playing ESCL? 

I saw it last week and put it on my watch list because it got hammered down horribly on an investigation for fraud.  Today they came out with a written statement negating that, and I got in at 7.7 and its now at 10.87.  If it can get back to where it was before the news it would be at 28, but I have never played a rebound that has been this successful, so I dont know where to get out.  All I know for sure is that this is my one blessing in this otherwise crazy ugly day.

Update:  Sold today for a quick $2K profit, have no idea where this thing goes from here...

i get the impression the MM's are just walking this down because there is no buying pressure, the latter i don't understand, it's a waiting game, i think the next thing we might see it an upgrade or coverage which should draw attention here again.

Quote from: netfishmademerich on May 15, 2006, 10:25:15 AM

Quote from: tokyopua on May 15, 2006, 10:11:42 AM
people who actually bought GV because they thought it was a gold stock

You mean this is not a gold stock!?!?  Oh.. the deception!!!

and I just collected another 10K shares thinking it WAS a gold stock.  Oh well...

GV is not a gold stock!
As Always, do ur own DD before buying & selling


GV DETAILS   
Index Membership: N/A
Sector: Industrial Goods
Industry: Heavy Construction
Full Time Employees: 123

The Goldfield Corporation, incorporated in 1906, is a leading provider of electrical construction and maintenance services in the energy infrastructure industry in the Southeast United States. The company specializes in installing and maintaining electrical transmission lines for a wide range of electric utilities. Goldfield is also involved in the development of high-end waterfront condominium projects on Florida's east coast

I think we just got off on the topic of gold stocks because it was brought up about the yahoo  MB posts.  I'm sure everyone here knows it is not a gold stock.  Although, it has a nice name for a gold stock   (slap me)

Anyone think  people are afraid of this stock because of real estate exposure (they are doing well there currently)?

This sell-off is way, way, ridiculously overdone to say the least!   

I would be willing to bet that many people trading this stock actually think that it is a gold stock, judging from the name of the company.  A 30% drop after reporting record earnings makes absolutely no sense.  I will continue to ride this stock up and down because I think it will eventually trade for what it's worth.

Leaira

An upgrade would be really nice to bustout to a new high.....

Quote from: Leaira on May 15, 2006, 04:57:09 PM
This sell-off is way, way, ridiculously overdone to say the least!   

I would be willing to bet that many people trading this stock actually think that it is a gold stock, judging from the name of the company.  A 30% drop after reporting record earnings makes absolutely no sense.  I will continue to ride this stock up and down because I think it will eventually trade for what it's worth.

Leaira

Buy the rumor, sell the news? The stock did almost triple in a 6 week period.

I'd bet a lot of traders of this stock are technical traders who don't know what the company does nor do they care.  They bought the breakout and sold the breakdown. Also momo-riders who bought high and sold higher. I think there were probably more of these types than traders thinking it was a gold play. JMHO!

update GV:

Well GV is not making it easy.. this has been a 50% pullback on its run and we are expecting support to come in.  The market may not have support in mind so we need a stop just in case something is going on behind the scenes.  We'll start off right around our entry and hopefully get to move this up soon.

------
Position: bought GV @ 1.475 on 4/20/2006
Order: Hold
Exit: STOP @ 1.55
Target: n/a
------

update GV:

Well GV is not making it easy.. this has been a 50% pullback on its run and we are expecting support to come in.  The market may not have support in mind so we need a stop just in case something is going on behind the scenes.  We'll start off right around our entry and hopefully get to move this up soon.

------
Position: bought GV @ 1.475 on 4/20/2006
Order: Hold
Exit: STOP @ 1.55
Target: n/a
------

unfortunately with my stupidity and some bad luck and poor choices i have managed to loose 35k on this stock, last week i was up 38k when the stock was trading at 2.80, i was going to sell but decided not too, i went out to shop came back 10 mins later and it had dropped to the 2.20 area, in my wisdom i bought another 60,000 at 2.25, the money came from my broker allowing me (T3) 3 days to settle, the stock rebounded to the 2.50 area but i still didn't sell, another stupid move, then the market crashed when i was out shopping, I have now had to cover the borrowed money as the 3 days where up, my broker is being unforgiving and is forcing me to sell some 80,000 shares at to cover the 151k i owe them at an average price of 1.84, i shifted most of them yesterday as the stock moved down and down, I have another 40k to sell today................total loss approx 35k from being up 38k a week ago a swing of almost 90,000 dollars


yes this is a nightmare and has caused me great pain, I have nobody to blame but myself.

you can all imagine i am devestated right now, how can anyone be so stupid.


my only hope is that the stock will go up slightly today allowing me a litte loose change, but when you put so many shares up for sale it has the effect of driving the price down, the MM's when not helping either, every time I placed an order they dropped the price down below it with a couple of hundred shares, I keep hoping I'm going to waken up from this nightmare.

I screwed up

just thought i'd share


PS I wouldn't have been worried if it had been my own money, I'd have just held and waited for the rebound, but my broker wanted their money back after 3 days

so if anyone would like to drive the price up a little today, it would be very welcome


PS PS, I also think the AMEX traders are crooks lining their own pockets, i believe they somehow new my predicament and played me, i placed orders yesterday at 2.03 when the level 2 bid and ask was 2.04 and 2.05, my 2.03 never got filled........go figure


sorry for the long post but i just needed the share my stupidity with the world.

any possibility of an update with charts on this stock to give me a better idea of where it's at today, it seemed to have strong support at around 1.75.

This is a cruel game and lessons seem to be learnt only the hard way. I am sorry for your loss.

Take it easy on yourself

uc.

Quote from: gharknes on May 17, 2006, 08:41:14 AM

sorry for the long post but i just needed the share my stupidity with the world.

Gharknes, if you are still in the market following this situation I suggest you read up on position sizing and risk and money management. Look at Alexander Elder Trading for a Living he details a very good money mangement approach. Also re-read some of your posts as I remember earlier posts of yours detailing how many shares you had bought and how much money that was in terms of profit etc etc. Basically you were trading with big position sizes which were an extension of your ego (a very common thing for private traders, hey me included every one gets seduced by that dark side). That is always a recipe for disaster in the market.

Well good luck.

not sure what you mean about my ego, my original order got filled at 1.52 just under 50k



i held a total of 97100 shares as of monday, still own 44k, the figures in previous post where off the top of my head (which is in my ass right now hiding from the world

i will come out of this still holding around 20,000 shares