Only oil I'm holding is:
GLRI and
ROYLthey have good potential for long expecially
royl history of having 8 splits. No kidding. They must be doing something right to have that many splits. Whoever holding that bag for the first split is sweet right about now.
My bio tech
AMRN which I sold for profit got a win in their court case today. Stock rises to the news. I sold since I did not have the patience to see a dripping faucet. I knew they are going to win but the waiting game just killed me. Been watching her daily for any news about this court case while I was holding onto her. Had to let her go to free up the funds to play elsewhere.
What I learned about the biotech industry (penny stocks) and this is my check list before the buy
-Is there any pending clinical trial that you know you are going to win. What is the date on it?
-Is there any buy out, hedge funds looking into an investment? Once again, future date is important
-How much revenues are they generating vs the debt ratio? Can they continue to still be in business for going long?
-Delisting coming soon? How volatile?
-Are management crooks?
-Now to see if management are crooks or not, look into their history of having a reverse splits. Usually 80% of the time (roughly in my head speculations), a reverse splits stock does not benefit the shareholders. Dilution is our worst nightmare.
there are other factors too that I look for like average volumes and market cap, insider investors (if insiders do not believe in buying their own stocks, why should I?)
I have made a tons of mistake by chicken out and sell early with biotech but what I should have done is get them dates and just check my stocks on them dates. These daily swings are there for day traders to make their pennies and run while scaring you off for that auto sell so they can pick up some more. Nevermore. With biotech, go for long and once it is met, it will then be ok to put your auto sell loss limit down. It is then you can run with no remorse because you run away with profit.
With that in mind, my new biotech lover is
GALE bought a couple days ago during lunch time at the pricing of $1.40
We will see how well she do. I have made money with biotech. I'll just stick to what I do know.
Also, I'm waiting for the next reverse split on any stocks and short it for pennies.
Till next time, good skills and luck and may we all make money with this funky and fun hobby. Don't quit your day job.