You are better off going with exxon, collect their 3% dividend and look for capital gains 1 year from now.

Drugb posted:

You are better off going with exxon, collect their 3% dividend and look for capital gains 1 year from now.

Bhai

RBC just bought 300,000 stocks. I do not hold on to penny stocks for more that 24 hours, most are bought an sold in less than a few hours.

If you get my drift. Hush Hush.

yuji22 posted:

Drugb posted:

You are better off going with exxon, collect their 3% dividend and look for capital gains 1 year from now.

Bhai

RBC just bought 300,000 stocks. I do not hold on to penny stocks for more that 24 hours, most are bought an sold in less than a few hours.

If you get my drift. Hush Hush.

You must have deep pockets to risk the downside. 

Any stock priced under $5.00 is considered a penny stock.  Invest in a sector fund (mutual fund) like Vanguard Energy (Vgenx).  This fund has an excellent track record with holdings like Exxon and Schlumberger.

Billy Ram Balgobin posted:

Any stock priced under $5.00 is considered a penny stock.  Invest in a sector fund (mutual fund) like Vanguard Energy (Vgenx).  This fund has an excellent track record with holdings like Exxon and Schlumberger.

Bhai

Please read DRUGB posts and you might have an idea on what it takes and how to deal with penny stocks. You do not hold, you are in and out in less than a day or in a few hours.

Anyway, CGX has low volumes and is a waste of time for going in and out at large volumes.

Did some background research on this company and it does not look good for now.  The website is looks like it was designed by a five year old. 

I got excited for no reason. Time to make a play elsewhere.

I thought CGX went out of business.  And even if they are in business, who in their right mind will invest in Guyana?  Buy bonds or take your money and put it under the mattress until the stock market crash.  Then jump in and invest for the long term.

Bibi,

Yuji plays big. In and out in a few hours. CGX is a waste of time to dip big in and out. I was given a tip which turned out to be useless.

I made a mistake on this one, the tip on the stock turned out to be true. I should have bought them yesterday and dumped them today for a very handsome profit.

Anyway, Everyday is not Christmas. Keeping my eyes on this stock.

Is CGX trading on the Toronto Stock Exchange?  So you are a day trader?  Gutsy move there!!

Bibi Haniffa posted:

Is CGX trading on the Toronto Stock Exchange?  So you are a day trader?  Gutsy move there!!

I do my fair share of it. Very risky but if you understand how to do it, the rewards are amazing. Six digits is common.

For example, if someone made a move on CGX yesterday, they would have made $ 5,000 today. Playing with just $ 16,000.

CGX is not a penny stock to hold. Day trading is not for everyone.

Bai yugii, you need to get your math correct at 8 cents a share for CGX, and a average daily volume of 60K shares(4,800), you 16k would garner you a huge loss as you would need 200K shares when only 60K on the market daily. 

yuji22 posted:

Bibi,

Yuji plays big. In and out in a few hours. CGX is a waste of time to dip big in and out. I was given a tip which turned out to be useless.

Did you get that tip from Django? I notice you two were chummy last weekend chatting bout real estate and suh. Don't ever take tips from Django, bai. 

Gilbakka posted:

yuji22 posted:

Bibi,

Yuji plays big. In and out in a few hours. CGX is a waste of time to dip big in and out. I was given a tip which turned out to be useless.

Did you get that tip from Django? I notice you two were chummy last weekend chatting bout real estate and suh. Don't ever take tips from Django, bai. 

Dat Chap owes me big time. I lost a day's pay (4K). I will drop some good licks on him.

Drugb posted:

Bai yugii, you need to get your math correct at 8 cents a share for CGX, and a average daily volume of 60K shares(4,800), you 16k would garner you a huge loss as you would need 200K shares when only 60K on the market daily. 

Bhai,

As I indicated before, that stock lacks volume and as such not worth playing.

Here was my initial plan:

200,000 stocks trading @ .075 $ 15,000

Stock went up to .095 x 200,000 $ 19,000

Gross $ 4,000 in and out in one day.

The problem with that stock is volume, only 65K (Average) stock is traded each day. Not worth the risk. 

Look at where it is today:

Someone is reading my posts at GNI, This is my final post or discussion on any stock: