I know that at the age of 30 it is tough to pass up a chance to appear a hard realist standing 7 feet tall, especially when it seems someone has pitched you an easy one; but you might want to at least try to comprehend fully what I have pitched first: I did say I know we will all act out of self interest, which is making money, but with any understanding of our common good we should not be RECOMMENDING TO OTHERS to day trade a small float held among a few hundred share holders because that will not be helpful to our common purpose. You may not attach much value to that notion, but, please, that is no reason to condescend to me and tell me to hang out with my church mates instead of investing in the market. I know we can’t all be Arng here but we can avoid taking easy shots, can’t we?
People will always act in their best interest...that much is guaranteed. So when you can't beat the crowd, join it. And in this case, just protect your downside as well as your upside. Just make some money. Because if you don't, someone else will. No one is going to think about others...especially those on a message board.
Michael, I agree that it is smart to buy before being uplisted, but day-trading a stock with a very small float held among so few shareholders adds a great deal of instability to a an already volatile stock. Day-trades are one reason why we get the great news we just got, we see a little pop and then an even larger drop which places AUGT under a microscope and prospective buyers on the sidelines even longer. Daytraders are also a reason why some on this panel sell on a slow day and post bogus negative comments just to create a panic, a drop and a buying and trading out opportunity! I know that I can't tell anyone else what to do with their investment; nor do I think we can even hope those doing it will ever stop it; but it needs to be pointed out that if we acted less out of self-interest and more out of common good, we should at least not recommend the practice to others. More people doing this is not going to be helpful to making our speculative OTC stock anymore palatable to others we need invested in it!
There is definitely a higher risk for otc stocks. But there is a higher reward as well. It is fine to wait for them to uplist but you will be paying a higher share price. How high is TBD. In the short term I expect it to be volatile which is perfect for trading. Hold a core position and then trade the rest and make some nice profit. Thats what it's all about right?
Thank you to all. This seems like a very well informed board and I appreciate all the feedback. I guess I'll have to decide whether the risks are worth the reward for an otc stock. I'll have to figure out whether my broker is trying to scare me out of buying augme to buy something else from him or whether his concerns are real. There does seems to be alot of good news but it does seems strange or odd that they can't get listed on the amex exchange for whatever reason. I'm leaning on waiting till they get a better listing because there does seem to be a higher risk for otc stocks. Thanks to all.
I would agree with you about the OB stock, it will fluctuate a lot more because it simply cannot have the institutional ownership a listed company has. Management seems to have decided that they want a NAS listing, and thats going to take a while. So until we get listed, fluctuations are going to be a way of life.
Long term this is going to be a fine investment I think, but dont fall in love with it. Set some rules and obey them if they call for you to sell. You can always buy it back because that doesnt cost you anything except lost profit, but recovering from a loss is truly expensive.