Stocks I like

[savage1]

Wallstreet-I tend to agree with your assessment of overall market.
For nexy few weeks at least if not longer, I see a gradual overall decline in market;personally I don't think there will be too many awful days but simply more down days than up ones and bigger decreases on down days than increases on up days.
Obviously this is just a guess on my part from many years of watching scenarios like this.
Perhaps we should ask Jack Price, Stu Feiner, Ty Gaston, Kevin Duffy, Jimmy the Fixer, etc if we really want to know.
I am sure they have 100-0 systems as they do in their sports handicapping which will tell us with 99% accuracy the second by second movement of the overall market as well as telling us what the "locks" are here in this market.

[wallstreet]

Savage,

Looks like things are going right to plan today. Nothing noteworthy and definately not worth buying. It is a bummer because I wanted to buy and I knew it wouldnt happen.

Lots of green on my screen, not enough worth celebrating about however..

[savage1]

Wallstreet-Yawn. You are correct.
Therefore I am going to take this opportunity to leave my computer do my dutiful 35 minutes on the stairclimber.

[savage1]

Wallstreet-I know that this is not the kind of stock youfollow but I just bought 4000 shares of pjtg at .275. I also have 4000 shares purchasd a while back at .25.
Check it out and the news;there seems to be some promise here.
Obviously today's purchase cost only $1100; thus I just regard it as a speculation only.
If you have time, let me know what you think(ps this is based more on my own dd and reading the news rather than buying on someone else's recommendation).

[wallstreet]

Savage,

You know I will always give my opinion, good or bad based on what I can find.

First glance, this company is a PR machine, 10 PR's in two months. Some companies I follow, you dont get ten in 6th months.

From a press release in November, the company planned on 6 M in revenues for the 2004 year, and 12M in 2005. But they also made a statment that said this assumes more working capital can be found..

Looking at their last 10-Q it is kinda scary..here is what I found:

As of Sept 30 they had cash available of 3,143 and assets of 536k. A total of 578k in negative stock holder equity. They say that more money is needed to keep going.

Also, they are paying employees and consultants with stock....cant say I like that move. It really looks like they are doing anything possible to stay afloat..giving shares away..converting notes for shares etc..

A good thing, revenues increased last year, but general and admin costs increased MORE than revenues.

I am a bit surprised that the auditor didnt issue a going concern statement..but they didnt that I saw. With little cash and increase in costs compared to revenues (total costs were up about 400k from the revenue increases) I imagine they showed the auditors that revenues will keep increasing more than costs or somthing..

One other comment..this stock is a behemuth...since they keep issuing shares for cash, shares for salaries and payments, that means with any uptick people are going to convert and sell..so it will be very very very slow going to see a big return for you. I really look at a balance sheet closely when the stock is a cheapie like this and when capital is tough to come by.

I dont think I could buy this stock..too much supply in the face of any demand..people will be cashing in warrants and shares for a long time to come. If I were playing it, I wouldnt be looking for a home run..more like a single (meaning 10-15%)

Hope that helps!

[savage1]

Wallstreet-What a great and insightful response!
You made me aware of things that I didn't even consider.
You really do know you stuff.
For the few thousand bucks I invested in this company, I think now I will put a mental stop loss at around $.20 and dump most if not all if it gets there.
I agree-I should probably be satisfied with 10 to maybe 15 or 20% tops return here.
Thanks again for what must have been timeconsuming research.
ps Just curious-how long have you been a broker?

[wallstreet]

Savage,

I have been in the markets in one way or the other for 10 yrs or so..I was trading back when I was in college..lol..but got my degree and started working for Fidelity Investments..back in the hay day of the 1999-2000 area..then I went and due to a change in jobs for the Msss..I went to work for a firm back east in Philly (if you have seen my occasional comments about Philly with Trapper and about McNubb etc..that is why) and I went to work for a company out there. I lived in the Philly suburbs and worked in the suburbs..then they decided to move operations into the city..which meant an extra 60 minute commute and a 7% city wage tax..so I said no thanks and left..then I went to work for a market maker in Philly..if one has the Level 2 quotes, the symbol I worked under is ATTN and I was a real market maker..trading propriatary funds..so we were traders for the account of the firm..it was the greatest and the scariest time I have ever had in the market..similar to the experience that Maxell kid is going to have on the forex.. I could trade 50,000 shares at a time if I wanted to..but would average 150k or so traded per day..usually on stocks like ORCL or some others..maybe CSCO back then.. I even traded WCOMQ before it went to the pink sheets..I had that sucker short at a buck..how funny.

Anyway, another job change for the Msssss and we move to PHX..home of the worst broker out there..Chuck Schwab..so I have been doing my own thing, not working for a firm..not as of now..but I am getting the itch again to be a broker for a firm..maybe as a market maker again..my licsences expire in another year hear..but my little business is starting to perk up and it gives me the chance to trade and also do things I need at home..

So thats my background..

Thanks for the kind words..somtimes I might come off as sharp or pointed when I give responses..but I cant give a recco on somthing I dont believe has a fighting chance..and when I see a company that says on the 10-Q (lucky they are a BB stock..PK stocks usually only do reports 1 or 2 times a year) when they say they have 3k in cash, arent sure they will make it, need funding and are paying contractors with company stock, and employees..well I gotta tell you that. And on that other one, they dont even have approval to start studies yet..so that means they are a good 2-3 yrs out from marketing their product..which means they havent even put on their shoes to start the marathon yet..

Did you get any bigger names today? I might have swung a bit firmly on that trade today, but I think I will get 11 on NGEN pretty quick and if I dont I still have a ton of reserve to lower down. I like my basis..its about 10.20 or so..

Hope things go well for both of us quite soon!!!

[savage1]

Wallstreet-Boy you have sure lead an interesting life.
Where exactly do you live presently, and how exactly would you describe your present occupation or is it just trading?Perhaps I missed something.
In answer to your question I pretty much let my managed account buy the real good stuff, and as a matter of fact I just got confirmation today that they purchased 325 shares of Cintas (CTAS) at 45.21 a share.
In short I handle the small and speculative sh-t and they handle the real serious money and pick the more established company.
As stated I am not adverse to buying an in between stock such as pjtg and Cintas.

[wallstreet]

Savage,

Since moving here, I have only been a self trader..I am still a broker though and have my licenses..once you leave a firm you still have them active for 2 yrs..so I may go back to a firm and work within the next year, but I really dont enjoy working for a firm..peddling lousy mutual funds to earn a commission, telling people to buy a certain stock when I dont really want to..cold calling people for assets..it stinks. That is why when I worked as a market maker in Philly...that was close to heaven for me..I wouldnt mind working on the floor at an exchange, but there is no way I would live in NY..and outside NY there are very few market maker jobs or exchange floor jobs..

And thanks for the reminder of the nature of your trading..I dont mind if you have a side fund for crazy stocks..you only live once and better this than other things like options..I think it is great!!!

Cintas is a good company, very sound and a nice "blue chip" company to have in the portfolio..

[savage1]

Wallstreet-So you live in Phoenix or did I misinterpret something?
It doesn't seem with a name like wallstreet that you would be living there.
Options or no options, penny stocks can also be dangerous to your financial health, and I have to be careful, as there are many more "Detroit Tiger Stocks" as opposed to ones which have "World Series potential."

[wallstreet]

Sorry, I forgot to confirm that..yep I live in PHX..

Not the biggest town of stock brokerages..or trading houses..thus the LLC I setup and am making a go of it..

:D

[savage1]

Wallstreet-if you don't have time for this, no problem.
Imnr is releasing some restricted shares today which were to have been released at a later date.
I am reading the news and posts on thread at imnr but am trouble makeing heads and tails out fo it.
It looks like stock goes down in short term anyways;somehow I think there may be more than meets the eye and was thinking of putting in bid at say around $1.37.
Again, only check this out if you have time.
Thanks.
Savage

[wallstreet]

Savage,

No problem at all..

It is funny you mentioned IMNR..I was getting ready this morning, saw it was moving pre-market and I was thinking that you held it and what was the deal.

Strange thing about restricted stock..when companies post this, investors think that the people are going to go out at 9 AM and sell 17 million shares..that doesnt make any sense at all. And you can tell by the reaction back that the first glance was wrong in pre-market.

What it means to me is that the jumps will be muted..17M shares is quite a bit, and it means that people who have been waiting are going to take advantage of profit situations, much like you and I would if we were in that position. If I had shares that were locked up and I couldnt do anything, I would have limit orders in to sell on bounces.. So there will be a handful that take the opp today or on monday, but there will be others who wait..

17M is a ton of shares..so I think you should be patient and pick your spot to buy in..it doesnt mean 2 bucks is here tomorrow, but it means sellers are here and will keep being here on the stock.

Hope it helps..if you get a dump..a big dump..step in and nibble a little..

[savage1]

Wallstreet-thanks.
Maybe you misunderstood me. I presently have 8000 shares of this purchased in past 7-8 months and am somewhat behind.
I did my own DD and Dutton had a price target at one time of late of about $8-10(obviously optimistic).
I was thinking merely of putting in a gtc order at around $1.35 to $1.40 to grab a few thousand more shares.

[wallstreet]

Savage,

I understood you ok, you were wondering about a buy order. My comment was meaning that this thing isnt going to drop heavy like it did pre-market. The reaction was wrong obviously, but my point is that this development means selling pressure on any kind of move upwards..more supply doesnt mean instant dropping of course, but it means muted movement upwards..and if you get a big drop then add accordingly.

My main thought is you have no real rush to get in..even if it drops some I dont think there is as great of chance to move upwards strongly..so it might drift lower and there is no rush to buy, even if it gets to your GTC level.

I cant see 8-10 on this stock..no way no how..with or without the dilution this stock would need a miracle to get to those levels.

Sorry I dont agree with the other person on the stock but it just doesnt happen in my universe..lol