I know that no one can predict the future, (although some have tried), but has anyone been through this kind of crash before? What kind of game plan do you take into it? I realize I should have sold earlier. That I get. But now that I'm sitting here with stocks that are worth significantly less than when I purchased them what should I do?
If I sell now I realize some large losses. I don't sell because I want them to go back up so I can break even at least. Then they go down some more. Does this type of drop eventually pass and the stocks return to previous and grow again or does the market turn back up and leave those stocks behind and grow on different companies?
I guess what I'm asking is from someone who has been through something like this before; am I screwed or is there still hope? My wife is not aware of the magnitude of my losses, yet. It will not be a pretty discussion but as time keeps marching on the inevitible approaches.
I own MRKL, HQNTE, ONEV, MBAH, IRSN, MEM, and JENSX.
You are right . The symbol on Yahoo is ezy_pa
Read the article for yourself. This is the buy of the century. It is for sure that Easy Gardener will fix this problem and I would say in record time. If they keep deferring the interest on ezy_pa, then they have to repay it with interest and that would be stupid.
Odds on they will get new lenders and new terms in which the compliance structure will be much more leniant.
I have been posting about this stock since July 22 and I have been right about it every trading day.
My gut feeling is that it is new the low and this would be an IDEAL time to buy. When they announce that the mess is fixed, you would be holding a stock that would soar up to it's over $20 value( check historical prices out) and also you would get .1958 on every share a month div.
This is an opportunity to buy if I ever saw one and I am stocking up. Read up about it and I would love to hear from others on this stock.
you sound like a very nice aldy. to tidy up your posts for easy gardener on all the other boards and here, i might suggest you refer to the symbol as ezy_pa. i wouldn't have been able to find it until you referred to company name and did symbol search. not knitpicking, just trying to help your cause.
I do own mrkl and I do agree that davidiam or whatever he calls himself pumps and pumps on Raging Bull.
But, for some reason, I am having trouble posting to raging bull. I was really writing here about the ezy.pr.a. It went down another $2.00 today. This stock is such a GREAT buy. Easy Gardener is being forced to defer the div because of compliance rules from their lenders. Easy Gardener is a great company and they will fix the problem asap. In the meantime, at this low price, it affords people to buy the stock and when the div. is resumed, they will be getting 25% on their money plus the stock will soar to $20 overnight. Don't forget you heard it here first.
i think stealth's advice is very sound and sincere. seems like only other possibilty, which i'm sure you've considered, would be to try to average down, but i wouldn't recommend that for a few weeks and reconsider then. plus, sounds like you're currently pretty well spent. i've seen MANY NON-OTC/PK stocks that have dropped even with SOLID but not great earnings recently, so you're not alone in your frustration. everyone looking for short-term gratification, and when not achieved, panic. one approach has been to sell BEFORE earnings. even with good news and a good bump, daytraders dump in a hurry, and you can usually buy back cheaper fairly soon after OR sit on cash for market rebound(that sounds like an oxymoron right now, doesn't it?). i realize that doesn't recover existing losses, but can stop the bleeding. this in mind, i'd definitely put a STOP-LOSS in irsn for monday/earnings day, right? imho, that's a real dog and unless they announce a MAJOR MAJOR MAJOR contract or $$$$$$, i don't think that will get back to where it is for a long, long time. you should read the message board there. pretty crusty, but pretty straight up! as for the others, i think you realize your strategy doesn't fit the portfolio, or, you didn't execute it. only you can answer that.for now,i can only suggest patience for the short term, and not knowing your $$ and share positions, suggest you take advantage of any +nickel/dime days to sell off pieces at a time until you see a trend, then reconsider overall market conditions for your next step, remembering the type of stocks you're dealing with! as always, do your own homework. the reality, imho, is that 90% of any board is MOTIVE, not MESSAGE. good luck.
It seems like you fell victim to the pumps on this crappy board, as I did. Fortunately, I only hold two. SPSC and HQNT. I sold MRKL for break-even. I bought SPSC and HQNT near their highs and I have ALOT of HQNT.
I can give you advice on two. MRKL- Their bomb detection future is non existent. If they were a player, they would already have contracts other than the small navy contract. Other governments and agencies are not buying from MRKL, they are buying, however. I believe that a division of GE got the big contracts....why would anyone think that MRKL could beat GE in this????
MRKL is a money pit with no cash and lots of debt. Personally, I think it will go under. But they have announced other contracts lately. I don't know if it is enough to keep them around. You could wait for the next "PUMP" but I'm not sure there will be one with MRKL. Nothing seems to move it up anymore.
HQNT- I've lost a ton of money on HQNT.....bought right in he middle of the "No Debt" release and the "Largest contract ever" release. HQNT, if truthful, is profitable and has no debt. They have been around a long time and have seen these lows before. They are not in danger of going under. They seem to be getting good long-term contracts. The stock price is down on some scandal worries and unaudited earnings. If you look at the chart for HQNT, you will see that you will probably make your money back, but who knows when????? It has been as high as 7 bucks a share. It has made several runs to the 2-3 range. Business seems good. I would hold it if you can, it certainally seems to have found a bottom at the .70 range. It will get "PUMPED" again.
I do not foillow your other choices but would look to unload anything that has a bunch of debt and no earnings.
My other holding, SPSC, has profits and hit 58 cents a few weeks ago.....it has climbed back up to more than double it's low.....I suspect HQNT will eventually do the same.
I don't think MRKL is dead by a long shot. The company has too much money and time invested in trying to becaome a real player in the homeland defense arena. Their new acquistions WILL pay off and at .44 a share, it is a far better gamble than a lot of other stocks being pumped.