GLGS

[frank_mazda]

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...

[calguy]

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.

[netman]

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

[puenthouse]

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

[Thunderbunny]

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! 

[goformoney]

 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 

[thunderblues]

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

[stocky]

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%

[goformoney]

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.

[strp609]

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

[stocky]

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.

[netman]

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

[frank_mazda]

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.

[David Randolph]

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 !

[goformoney]

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