WLSF-Undervalued?

[wallstreet]

Savage,

Intra-day most definately.. Close/Open is for longer term stops..we are traders and I look at just a flat level for where I want in or out.

I am happy to see no testing of that low of the day. If it starts making intraday lows near the close, then get worried. Right now it is in a middle of its range, volume has slowed..doesnt look horrible.

I would use a 15% stop, so based on that I would take a percentage off the table if the stock got below 1.25 or so. With the action this stock has, your stop has to be very wide..very wide.

Keep me updated.. You see TASR??? crazy!

[savage1]

Thanks Wallstreet, but how did you arrive at $1.25 based on a 15% stop? you are not using the $1.69 that stock hit yesterday as the point at which the 15% shoudl be taken.
I hope you own tsar, as I do not;the Cabot Market letter to which I subscribed until 3 months ago or so was high on that stock at one time.

[wallstreet]

Savage,

I was saying about 15% from these levels. Also that price point is probably a spot where I might think it goes much lower if I owned it.

Of course a 15-20% stop has to be determined by the owner..so if you base 1.70 as the figure, then 1.40 or so would be the sell stop.

My point is that whatever target you decide..10%, 20%,30% whatever, use it and dont look back. You are booking profits and you never get it 100% right. You can always buy back in higher if you want, but if it goes lower there is never another chance as you well know.

Its hard for me not to regret..but if I am using a philosophy that protects profits and limits losses it is the correct way to invest the way we do.

If we wanted to be really specific, I would pull up a 3 month chart..overlay the 20 and 50 day moving average...if the stock went below that, it would be trouble. Anything above from a chartists point of view it is not worth selling. The problem is that level is about 1.00.

I think the mental stop is the best call on this stock.

[savage1]

Thanks for the very sound advice!

[savage1]

Wallstreet-the stock gave back most of yesterday's gain.
Do you think this is normal profit taking and/or do you think that some support levels have been breached, or would you say that tomorrow's action will let us know more?

[wallstreet]

Savage,

Looks ok today, keep that mental stop in place and let the market tell you what to do..

Sorry about CLN..dont know what to say than average out, but we can discuss that another day..

[savage1]

Hi Wallstreet-wlsf is holding its own for now.
Cln SUCKS as usual.
snvbf is up to 3.50-alas I purchased only 1000 shares at 3.36.
I suppose I could cash and use the $100 profit or so after commissions to try a nice 4 team parlay for tonight.:D

[wallstreet]

Let me give my plays, just go the opposite and you will cash!!

[savage1]

Wallstreer-Here is another hyped stock whcih I just received in another newsletter I got today. FNGC-all kinds of promises and optimistic predictions in writeup.
I didn't buy any it yet-check it out.

[wallstreet]

Bad symbol?

FGNC came up with nothing.

[savage1]

Oops-I meant fngc.

[wallstreet]

Savage,

How can I say this...

YIKES!



No earnings, no revenues, I dont see any assets or legitimate cash on hand.

I see a stock split 5 for 1 when the stock was 2 bucks?

This might turn out for you if there is a reason to think they are going to start having business, but just from the 5 minute check, this stock is a very very very speculative gamble.

I have to wonder the source of this pump and what relationship they might have with the company.

Cant say I would even give this one a 100 buck try, but hey this might turn out to be a big time winner..I just dont see it.

Let me know if you get in and I will try to watch it for you.

[savage1]

Wallstreet-I probably won't buy it. I already have another one of these type of stocks GPTC(mining), that I have taken a bath on(nowhere near as bad as cln but still in the red).

[wallstreet]

Savage,

Read this-

http://biz.yahoo.com/e/040823/fngc.ob10qsb.html

It is about that stock. They have several going concern issues, the stock is a shell for Falcon who for some reason cannot become a traded company, which happens..a company reverse merges with another where the previous company has nothing to do with the merger. In this case the stock was an aquestrian magazine which didnt make it, then this Falcon company comes and buys the shell and takes it over as its trading entity.

Now why it does this is to get capital and people to have interest in the underlying company.

I dont like what I read..but before you buy one share, read the whole thing... It could be a huge pump and dump and I dont want you to get taken!

[savage1]

Wallstreet-I read about 1/2 of it;that was all I needed to decide that this is not a stock I want to buy.
Like you say, it might be pumped for a while, but on the other hand, maybe it has already been pumped, and is ready for a decline;in any event I am not interested-I don't care how high it goes(because of my bad experience with gptc, which appears to be another pump and dump, I probably wasn't going to buy it anyways).
Just keep me posted on wlsf, as this appears to be a nice winner at least for now.
Thanks for linkand advice.