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Bought 6300 shares of VRNG ... anybody making a similar move?

Discussion in 'BlackHat Lounge' started by wasted, Sep 5, 2012.

  1. wasted

    wasted Jr. Executive VIP

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    Hey,

    I'm not a big stock player but have a few friends that are, over labor day I overheard them talking about this stock. Started to ask questions, basically it is a typical speculation. The background is that Google may buy them out or settle in their lawsuit.

    Here is a decent explanation of the situation: http://seekingalpha.com/article/844551-vringo-what-has-happened-and-what-i-think-will-happen

    Anyways, the gamble is on Oct 16th is the start of the trial...
     
  2. wasted

    wasted Jr. Executive VIP

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    So far so good, up $7,000 on this spec stock...
     
  3. Inquestor

    Inquestor Newbie

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    Nice;

    I play in the penny stock market. Made a few thousands last year but missed out on POTG :(

    You probably already know this but my advice is to be an indian giver. Take your initial investment back. This way no matter what happens from here you are not out of pocket and if things go well you make money with no risk.

    The only thing that is difficult with this method... to overcome the greed :)
     
    Last edited: Oct 4, 2012
  4. mil0x

    mil0x Power Member

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    Hear hear. Greed made me broke. Got into a penny stock last year at like 9 cents average.. then we had two days of a crazy rally (reverse merger going on).. I remember posting here on BHW when it was at 50 cents'ish.
    Well, we got to $2.20 in one day AND.. well I didn't sell a single share as it would quite easily hit $5+ yada yada (strongly advise to not use message boards of any sort when trading stocks). In the end I got rid of them at like 30 cents average :(
    (Its at 9 cents again now).
    Then I got into options (trust me, paper trading experience never cuts it), made some nice gains in the beginning and then pretty much lost all of it the next week.

    I know I'm just a stupid greedy bitch. Stock market is always full of $$$-potential if you're willing to settle for any kind of profit.. as they say; it's not that hard to make a profit. Its much harder to take the profit.
    AND - no one ever went broke taking a profit.
     
  5. pixelgrinder

    pixelgrinder Jr. VIP Jr. VIP

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    I day trade while doing other offline/online IM ventures. I stay away from penny stocks as I dont like losing my ass overnight.

    VRNG looks oversold on the stochastic 60, 5 and 1 min charts. Im guessing a bit of a pullback, do you have a goal for the stock wasted?
     
  6. joshweaver9

    joshweaver9 Senior Member

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    I sold today at 3.97. This stock jumps on news and then pulls back. I feel a pullback into the mid to low 3s again. Similar to what happened about a month ago. Might miss out but who knows.
     
  7. Inquestor

    Inquestor Newbie

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    This is always the driving factor to not sell out, but its all a gamble in the end...
     
  8. wasted

    wasted Jr. Executive VIP

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    Well I sold some shares around 4.20 today for a nice profit, and I think I'm going to let the rest ride for the big win on a settlement, not really looking at a buy anymore, i'll take the double at 6
     
  9. DarkMage

    DarkMage Registered Member

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    Nothing sweeter in the world then getting your investment back + having shares left of pure profit. I did the same with Nokia a few months ago rode it from 1 to 3 then got out.

    Also have been burned countless times, penny stocks have rampant insider trading going on that is unchecked and retail traders often find themselves buying the "dream" just to find it was a "illusion" so the directors could make $$$$ from the suckers.
     
  10. KeyzDT

    KeyzDT Power Member

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  11. pixelgrinder

    pixelgrinder Jr. VIP Jr. VIP

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    Or the market can RIP. VRNG up 16% LMAO
     
  12. wasted

    wasted Jr. Executive VIP

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    @pixelgrinder,

    Yea, great past 36 hours for VRNG. Up 16.28%, wonder if there will be resistance at 5...

    Going to sell some shares as planned (can't get to greedy now)
     
  13. TimeKing

    TimeKing Registered Member

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    Bought 2000 shares at 3.95 watching this go up. Not a bad investment for a couple of days 20% guaranteed. Will sell at 5.00
     
  14. wasted

    wasted Jr. Executive VIP

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    TimeKing, Did you sell?

    Sold some at 5.40 to cover the majority of my base, but a lot still in play for the ride :)
     
  15. .:mAestro:.

    .:mAestro:. Regular Member

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    I like this thread :) It's been a looong time ago when I did some trading. This makes me to consider trading again.
    Maybe we should have one section on BHW to post some interesting findings between blackhaters...
     
  16. kjr640

    kjr640 Registered Member

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    great idea
     
  17. Inquestor

    Inquestor Newbie

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    Like DarkMage said "Nothing sweeter in the world then getting your investment back + having shares left of pure profit."

    Regardless of the trending, there is nothing but gain for wasted :rofl:
     
  18. joshweaver9

    joshweaver9 Senior Member

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    Went ahead and picked up some Nov. 5.50 calls today.
     
  19. Evil Ebay

    Evil Ebay Newbie

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    Nice wasted and congrats! I bought apple when it was at $74.00 in 2009.
    When Steve Jobs had a kenny transplant and the economy was really sour I sold at $100.

    I guess greed didn't get me =(.
     
  20. wasted

    wasted Jr. Executive VIP

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    josh,

    I think that is a good move, I took some solid profits, but left some in for a possible ride if this settlement comes in nicely.