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Spectre’s $500 to $5,000 Stock Experiment - Page 3

post #41 of 662
2/22/07 at 9:57am
Thread Starter 
Alright, for some strange reason, I got half the funds into the account? Not sure why that was. But I've got $250 to play with, and can add the rest when it gets into my account.

I put in an order for METP at .065 "which is a support level" hoping to get in on a dip before the financials come out. Which could be any day, so if they come out before the bell, I might not get filled, but that's the plan for now. "fingers crossed"

Best,
Spec
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post #42 of 662
2/22/07 at 3:49pm
How long do u intend these plays to be long term/ Short term ?
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post #43 of 662
2/22/07 at 4:05pm
I've got a spreadsheet I'm running with a what-if for following this thread... look forward to see how it turns out.


EDIT: out of curiosity, how did you determine support at .065? I'm seeing it at .04 based on the chart....
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post #44 of 662
2/22/07 at 5:42pm
Thread Starter 
Ok, so I picked up 3,380 shares at .071. Yeah, for some reason I raised my buy order thinking .065 might be a bit too low.

Lesson 1, listen to your gut. It's right more often than not.

Anyways, I thought the rest of the money would have been in the account today. I will call E*Trade later to find out what is going on.

Best,
Spec
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post #45 of 662
2/22/07 at 5:44pm
Quote:
Originally Posted by Spectre
I put in an order for METP at .065
was overbought a couple of days ago and needed to breathe so nice pull back and you should be in now...
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post #46 of 662
2/22/07 at 5:45pm
This is an interesting experiment.
Chart
http://stockcharts.com/h-sc/ui?s=MET...d=p76484593425
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post #47 of 662
2/22/07 at 5:46pm
vtpk , Just did rm ito shell only 53,000 os just posted FAs today .
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post #48 of 662
2/22/07 at 7:05pm
Quote:
Originally Posted by Spectre
Ok, so I picked up 3,380 shares at .071. Yeah, for some reason I raised my buy order thinking .065 might be a bit too low.

Lesson 1, listen to your gut. It's right more often than not.

Anyways, I thought the rest of the money would have been in the account today. I will call E*Trade later to find out what is going on.

Best,
Spec
awwh man, you did what i always tend to do, thinking it wont go down more and bought at .071 and then it falls right down to .065 with a bid of .061.

This is the type of thing I really need to work on, let me know what your plans are to make a profit in this situation, I'm really interested.
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post #49 of 662
2/22/07 at 7:14pm
So you've got $240 into METP right now. Are you going to put the rest of the $500 into METP?
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post #50 of 662
2/22/07 at 7:18pm
Spec, how did you determine that .065 was originally going to be the good entering price and support? I still can't see that on the charts. Could you please annonate one for us?

Best,
52
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post #51 of 662
2/22/07 at 7:23pm
Quote:
Originally Posted by back in 52'
Spec, how did you determine that .065 was originally going to be the good entering price and support? I still can't see that on the charts. Could you please annonate one for us?

Best,
52
I would like to know this too. After watching it all day, I agree with the assesment, but I'd like to better understand how you came upon it.
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post #52 of 662
2/22/07 at 7:50pm
wow spec, I'm just amazed when i try microanalyzing this thing. If you think about it and you got in at the right time, you could have made more than $100 profit on just $250, that is just truly amazing IMO.
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post #53 of 662
2/22/07 at 8:17pm
Spectre,
Why is METP got a bid of .02 and a ask of .035 yesterdays close at .09 and last trade at .07?? whats going on?
Spa
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post #54 of 662
2/22/07 at 8:19pm
Thread Starter 
Quote:
Originally Posted by Spaghetti48236
Spectre,
Why is METP got a bid of .02 and a ask of .035 yesterdays close at .09 and last trade at .07?? whats going on?
Spa
Spa, who is your broker? I have my Power E*Trade open and I have a bids at .064 and .065 and asks at .07 and three at .08!

Best,
Spec
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post #55 of 662
2/22/07 at 8:21pm
Thread Starter 
Quote:
Originally Posted by back in 52'
Spec, how did you determine that .065 was originally going to be the good entering price and support? I still can't see that on the charts. Could you please annonate one for us?

Best,
52
Ok. Here is the METP chart as of now. It is not a live chart, so it won't update since I just posted it on photobucket.

Also let me say, I am no chart whiz. Some members such as Amohedas, Guapo, Myopp, Gatortrader, and Dr. Sean are very good with charts in my opinion, and I'm sure at least one will pop their head in here to show me where I'm off.

Ok, the ugly green lines are the mid term trend lines. Each being points of support and resistance. But, what we can see is that the stock is on an Up-Trend. That is good. "I will note that I have made lots of money on stocks in a down trend too."

The blue line is where resistance used to be, the stock hitting .065 twice and failing to break it. Once a stock breaks resisitance and closes above it for more than a day, it becomes a level of support. The longer the stock closes above it, the stronger the support.

Ok, that is just a quick explanation. I encourage you all to check out HSM University to read more about charts and the Gary Witt CD is also a wonderful tool as well that has helped me make money!

Best,
Spec

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post #56 of 662
2/22/07 at 8:22pm
Quote:
Originally Posted by Spectre
Spa, who is your broker? I have my Power E*Trade open and I have a bids at .064 and .065 and asks at .07 and three at .08!

Best,
Spec
Ameritrade
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post #57 of 662
2/22/07 at 8:24pm
When I go to the chart it shows .065 bid and ask .07 I dont know why the streamer shows what I posted.
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post #58 of 662
2/22/07 at 8:25pm
Thread Starter 
Quote:
Originally Posted by Spaghetti48236
Ameritrade
Maybe they are having issues today? I don't use Ameritrade, but I know E*Trade has done the same to me in the past. Pinksheets.com shows the bid at .065 and ask at .07, so I would think Ameritrade is the one with the error.

http://www.pinksheets.com/quote/quote.jsp?symbol=metp

Best,
Spec
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post #59 of 662
2/22/07 at 8:28pm
Its hard to play this game when I cannot see Level II quotes.. Maybe I will call Ameritrade.. AND Find out what their problem is..
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post #60 of 662
2/22/07 at 8:30pm

Thats where you found them..
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