Looks interesting. Recently announced stock repurchase plan: http://biz.yahoo.com/bw/040123/235107_1.html From the trading activity, looks like A LOT of shorts covered today. MACD looks poised for a run...going to keep an eye on this one (currently trading at a low multiple). http://stockcharts.com/def/servlet/SC.web?c=RNKE
Sorry, I'm not here to hold anyone's hand. If you bought GLBT when I first posted the pick, then you would still have a minimum 50% profit (if you held the entire time). There are plenty of people on here that made 200-300% thanks to my tip...if you bought in at .24 and sold at .064, then this is not my fault. GLBT is still a great company...give it some time to overcome these current growing pains. I still feel GLBT will be a dollar stock within the next 9 months. GLBT will secure much needed cash by issuing shares. This company will stabilize itself very soon with added revenue streams and acquisitions...then expect it to execute a reverse split to get itself out of the OTC and onto the Daq board. Show me a penny stock that has revs over $100M...GLBT is a winner regardless of what happens in the short term.
You can't fault the guy for giving us a stock tip that gave some people gains of 200%. If you bought *simply* because he posted it, and you didn't do any DD and didn't monitor the stock religiously (which you kind of have to do with pennies), well, any money lost is your fault. I don't think it was Canto, but in his original thread, the iBiz stock was first mentioned, and it was around .002/share. Two weeks later, is was around .08/share. A lot of people made a LOT of money on that stock. It'***** or miss, and never shoot the messenger. Shoot yourself if you bought without checking it out yourself.
Whoa... what did I say, exactly? 1) I said that I SHOULD have done my own research 2) Based on past performance I'm wary. What's wrong with that??? Luke.
Luke, Nothing wrong with that. Unfortunately, the nature of the internet is such that it is hard to tell exactly what a person implies just from black and white text. I was merely reiterating the fact that I still think GLBT is a solid company, and NOT a pump/dump. This PRE14C filing has been blown completely out of context. Unfortunately, most investors don't have much going on between their ears, and hence a tremendous amount of panic selling has occured (these people will be kicking themselves in a few months). What people don't understand is that GlobalNet is doing what is necessary to keep itself afloat...short term diluation in exchange for working capital is necessary for this company to continue expanding. Once things have stabilized, you can bet the management at GlobalNet will initiate a reverse split to get the O/S back down to reasonable levels, and boost the stock price high enough for a Nasdaq listing (IMO). This company may be stuck in the OTC gutter for now, but it will not stay there for long (IMO). Today's PR filing was very promising...IMO, we should expect another one tomorrow for a nice week-end capper. http://biz.yahoo.com/bw/040129/295546_1.html
was that what we were waiting for, a 15% jump followed by a dive in to the negative ? Seriously, was it...? Luke.
Like I said, I'm not here to tell you when to buy or when to sell. This I leave to you. Do your DD and provided you understand the fundamentals to trading OTC stocks, then you should be able to play the trading range of this stock. IMO, RNKE has plenty of more upside in the short term. FYI: QBID is also FINALLY in play (after a LONG hibernation period)...up 300% today.
I appreciate your help -- I really do -- though I'm sure it doesn't sound like it most times. I just need to lean how to do my own DD. Thanks, Luke.
Pennies move on rumor and news, only sometimes do they move on past performace. I wish scottrade funded my account. but they are saying that the cashiers check i mailed them has to clear. Is this true or is the lady at my brach office BS;ing me? I thought cashiers checks were like certified checks in that the funds are guaranteed to be in the account, therefroe eliminating the need to clear. One reason im pissed isbecause i would hae put 8% of my money ($800) into PGHI last week. It has gone up 75% since then. Gains of 500 a week are pretty nice when you are an unemployed college student who is willing to waste 2 hours a day on the market on top of an already packed schedule. Next term im scheculing classes beforer 9 and after 4. Then again i woul d have put a fre hundred into IBZT too and thats been doing pretty bad the past few days.
News Today February 04, 2004 09:30 AM US Eastern Timezone Roanoke Technology Corp. Reports Bond Sales Have Been Increased to $12.00 Million ROANOKE RAPIDS, N.C.--(BUSINESS WIRE)--Feb. 4, 2004--Roanoke Technology Corp. (OTCBB:RNKE) announced that with the approval and support of its Consultant, Graceleyne Financial Inc., http://www.graceleynefinancial.com, a decision has been taken to increase the proposed bond sale from $10.00 million to $12.00 million. As this bond offering package is in the final stage of preparation, the increase to $12.00 million is not expected to cause any delay in the completion of bond sales. RNKE C.E.O., Mr. David Smith added, "This increase of $2.00 million in capital injection will assist to offset closing costs and allow RNKE to pursue a more aggressive expansion policy." Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. Contacts Roanoke Technology Corp., Roanoke Rapids David L. Smith, 253-537-9222
Trading penny stocks can be difficult, but you can reduce your risks dramatically by: 1) Only bet what you're willing to lose 2) Never let fear/greed control your selling/buying 3) Always do your research with the information available From my DD, I have concluded that RNKE is a good bet to double or triple by end of February. Of course, this is just MHO, but I have researched the company and based on... 1) The $12M bond (working capital/debt payoff) 2) Stock buyback (increases SH equity) 3) Additional employees (increases revenue) 4) Projection for 1000 clients by years end (increases revenue) ...I feel RNKE has a bright future. Tie that in with the ban on naked shortselling going into effect 2/20, and there is a great chance for this stock to see $0.03 by end of February (IMO). A PR stating the bond and stock buyback have been completed will send this stock on a nice run. Market makers have been lining up all week buying large chunks at $0.01+, which is setting up a solid base.
Yes, MM manipulation is merely a fact of life in OTC trading. You have to be able to see through their BS and not get faked out by their games. The 2/20 ban on naked shorting will help decrease this sort of price manipulation and will help raise a lot of penny stocks that have had their PPS beaten to a pulp by crooked MMs. When it comes to RNKE, the MMs NITE/SACM in particular have helped surpress some of the recent rallies, but taking into account the number of shares these 2 MMs have sold in the past 2 weeks, you can bet they will be running out of shares soon and will be forced to cover their shorts. NITE was also responsible for keeping IDNW/GLBT down in the beginning as well. RNKE is committed to squeezing these types of MMs...the bond and stock repurchase verify this.
