Trading the stockmarket (NO Referrals)
- Thread starter mcast123
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Because the naive believe that penny shares can only go up. You can suffer horrendous percentage losses with them just the same as £ shares.
The risk is notoriously high with penny share oilers because of their lack of cashflow due to being a non producing oil co. Many are relying on just the one drill hitting the black stuff. The odds really are stacked against them. I know it sounds negative but thats the reality.
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Very true and one of the reasons why I bought shares in MTA as they are drilling an appraisal well instead.
So are the gains still good on appraisal wells, can they become production wells?
I've had a good week, been trading DES, buying when it dips below 88p then sell @ 90+ the SP has been holding around these figures. Made a good bit of money just on a few % points.
The next big movement is going to be on RKH's RNS which will report on the quality and quantity of the oil find. If all is good both will rocket again but who knows as people have mentioned above oil exploration shares are a risky business. New investors should buy something safer like MKS which over the next 12 months will probably rise gradually.
The next big movement is going to be on RKH's RNS which will report on the quality and quantity of the oil find. If all is good both will rocket again but who knows as people have mentioned above oil exploration shares are a risky business. New investors should buy something safer like MKS which over the next 12 months will probably rise gradually.
It certainly derisks the investment but the hope is always that the initial exploratory estimates are conservative and the amount of oil proved up.
A little while back I was going to invest in inchcape but somebody crashed into my car and drove off leaving me with a big repair bill and so I didn't invest, so I did it on bullbearings.
At the time I was looking it was at 26.82p
Look below, its now on 317p - and thats in around 3months.
http://www.google.com/finance?q=inch - 319.90 +287.78 (895.95%)
I'm feeling pretty gutted right now
At the time I was looking it was at 26.82p
Look below, its now on 317p - and thats in around 3months.
http://www.google.com/finance?q=inch - 319.90 +287.78 (895.95%)
I'm feeling pretty gutted right now
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Soldato
A little while back I was going to invest in inchcape but somebody crashed into my car and drove off leaving me with a big repair bill and so I didn't invest, so I did it on bullbearings.
At the time I was looking it was at 26.82p
Look below, its now on 317p - and thats in around 3months.
http://www.google.com/finance?q=inch - 319.90 +287.78 (895.95%)
I'm feeling pretty gutted right now
It's a share consolidation they haven't gone up that much. 1 share for every 10 in issue. So basically if the share was worth 30p it goes to 300p but there are x10 less shares about.
Yes but still doesn't matter, if I had invested I'd be much richer than I am now? Or would the amount of shares I had be cut but increased in value?
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Well, it's a bit of a different magnitude. It goes from being 26.82p -> 317.3p (11.83x) to 26.82p -> 31.73p equivalent (1.183x)!
I still have not had the balls to buy back into the market yet however I think if we see another fall next week I will sell my GSK taking a 5k loss and buy into XTA.
I think I will hold onto DES until they find oil
I think XTA have a big enough margin now for it to be a viable buy. The only thing is I don't really see them reaching 1300p for a while again yet. But the miners are so fickle, and seem to react to everything, so its nigh on impossible to tell. Long term I think they will be strong.
Well Im going in today.
I bought into quite a lot of Yell as they are down 22% today, bought more DES, and some FOGL.
I will buy XTA later today and possible RKH also.
Did you buy in or hold out? They are down again today, and I still have 0 confidence. I'm sure they will bounce, but I think we are seeing retracing as the uncertainty sticks around.
Soldato
At the moment the stock market is purely for gamblers. Some will do well. Others will get their fingers amputated. I admire anyone who thinks current prices reflect anything like fair value in a world propped up entirely by taxpayer handouts. You're braver than I'll ever be.
We continue to live in interesting times! I particularly like the article on Bloomberg today about Goldman Sachs making a fortune while its clients -- following Goldman's own advice -- lost money. Says it all really.
Andrew McP
We continue to live in interesting times! I particularly like the article on Bloomberg today about Goldman Sachs making a fortune while its clients -- following Goldman's own advice -- lost money. Says it all really.
Andrew McP
Yep I bought in yesterday, just a little too early.
Im around 12k down on yesterday after buying DES, Yel, XTA and FOGL
Yep I bought in yesterday, just a little too early.
Im around 12k down on yesterday after buying DES, Yel, XTA and FOGL
everything down today....