If you had $14,000+ to spend on anything, what would it be?
Imagine going on a shopping spree with $14,000 in your pocket….WOW! What an awesome feeling right? Well…I’ll tell you one thing…it felt great! I had $14,000+ (from my sale of 80,000 shares of SPNG @ $0.19 (1,800% gain))
You’re probably thinking…with $14,000+ you could buy some new clothes, shoes, bags, games, toys, gadgets, and the list goes on. That is fine if that’s what you decide to do with the money, but do you want to know what I did with the money (No need to answer because I am going to tell you anyways…lol)? Simply put, I reinvested it into other (potentially great) companies.
This is pretty much how the story went for me. With $14,000+ in my investing account after I sold some shares of SpongeTech (because it’s consolidating right now for the next run up), I went shopping. Shopping for what, you might ask? Well…I went shopping for shares, wait till you see what companies I found for sale and the kind of deals that I got.
Walking around “The Investing Mall” looking for companies that are worthwhile, I was able to find three companies that where very well worth my visit. I found and purchased shares of (MGLG), (SYNJ), (WNBD).
Now, I know that I already have some shares of Syndication, Inc. ( SYNJ), but I liked it so much that I decided to buy another million shares of it for a total of 2 million shares of SYNJ. Now, that’s good stuff.
# of (SYNJ) Shares Purchased: 1 million
Cost of (SYNJ) Shares Purchased: $2,620
I added two new companies to my stock basket (portfolio), Magellan Energy Ltd (MGLG). and Wining Brands Corp (WNBD).
A more detailed reason for investing in these two new companies will probably follow in a latter post, but for now let me keep it simple. Wining Brand Corp has great eco-friendly products that are already in stores and hitting more and more stores soon and Magellan Energy will be positively influenced by increasing oil price.
# of (MGLG) Shares Purchased: 2 million
Cost of (MGLG) Shares Purchased: $4,500
# of (WNBD) Shares Purchased: 500,000
Cost of (WNBD) Shares Purchased: $7,600
All this totaled up to an expensive shopping spree of $14,000 plus. But…I am excited because this shopping spree allow me to reposition my portfolio for future gains and allowed me to diversify into other companies on the grow.
To stay updated on what I am going to do next with these companies, make sure you subscribe (Email or RSS) today!
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Hey Chiko,
Good little shopping list! SYNJ is really taking a beating though….any idea of when they’ll start climbing? I hear HYGN at .029 is going to climb 1000% in the upcoming weeks. I only have 220,000 shares of SYNJ, but with the price plummeting, I’m not too confident. Hopefully you know something I don’t! lol
Otherwise, I had to sell SPNG for a 2500 dollar profit and I’m hoping I can buy in again soon. Any chance SPNG hits .08 again?
Be safe,
Mike
Comment by Mike — June 16, 2009 @ 9:01 AM
Hey Mike,
I agree…SYNJ is really taking a beating, but they will begin to move once the company gives us a little more info in the direction that they are moving towards. But I am confident that this company will deliver…soon.
Good job on profit taking on SPNG for the time being. I think they will continue on the uptrend once people forget about what happened last Friday and start focusing on what this company has coming down the pipeline.
Comment by chiko777 — June 16, 2009 @ 10:40 PM
[...] this week, I went on a $14,000 + shopping stocks-spree but I guess that wasn’t enough. I say this because today I decided to make another purchase, [...]
Pingback by MyBarnabas : Don’t Be Left Behind — June 19, 2009 @ 10:35 PM
SYNJ NEWS OUT! http://finance.yahoo.com/news/Syndication-Inc-Announces-Mac-prnews-991517315.html?x=0&.v=1
Comment by chiko777 — July 1, 2009 @ 5:36 AM
Do you take donations or is this free like some of the penny stock pick site I know that take donations?
Comment by penny stock pick — July 2, 2009 @ 8:06 PM
It’s free!
Comment by chiko777 — July 2, 2009 @ 11:01 PM
[...] So what caused this kind of growth? This tremendous growth in one quarter was due to my investment in Spongetech (SPNG). It basically went from $0.01 to a high of $0.28 and I ended up selling most of my shares (still holding about 20,000 shares) at $0.18 to diversify my account with other potential winners. [...]
Pingback by MyBarnabas : Pursuit of Freedom : 2nd Quarter 2009 Results — July 5, 2009 @ 7:22 AM
hey Chiko
May i ask whats your strategy? I know timothy sykes idea of buying and selling, taking the profit quickly however i cant help notice, that maybe buying and holding may be a better investment.
Lets face it if i would have bought 1,000,00 shares in SPNG at 0.01, which would have been easy as there were billions of shares!!
Could have been a nice $200,000 plus move in a month and half!!!
Comment by Louie — July 8, 2009 @ 6:31 PM
Hey Louie,
My strategy is to buy undervalued stocks with increasing buying pressure caused by positive new information (press releases). Hold until major run (or when I reach my target goal), then sell. This type of strategy has allowed me to live my life and still have the time to invest in the market. Instead of having to watch it constantly trying to find a great entry and selling point.
Comment by chiko777 — July 8, 2009 @ 6:50 PM
Hey Chiko
Great idea to follow the sam principle as warren B. how do you judge a ‘undervalued goood stock’ any ideas if what to read? or any simple points or direction you can point me in.
Would be great! Thanks Chiko!
Comment by Louie — July 9, 2009 @ 7:05 PM
Warren Buffet of the penny stock world…lol…I guess you can say that. I judge an undervalued good stock by doing some research on the company and putting a self-concluded value to the company. If this self-concluded value is higher than the current stock price….then is a good (money making) stock to invest in.
Comment by chiko777 — July 9, 2009 @ 8:15 PM
Self- concluded research? any way you can point me to learn valuing a company, books or something?
How do you learn.. self taught?
Comment by Louie — July 10, 2009 @ 11:11 AM
Correct I basically self taught myself so I am not too sure about a particular book to recommend to you. Also, their is not a lot of books that focus on penny stock investing. But don’t worry I will be sharing my strategy as this blog continues to grow.
Comment by chiko777 — July 10, 2009 @ 1:45 PM
How do you exactly value a company? Do you based it on calculations or just your opinion? I am wondering how you decide whether it’s undervalued or not since a lot of penny stocks pretty much look “cheap” due to their price.
Comment by Jay — July 11, 2009 @ 8:22 PM
Good point Jay. But I value them in terms of my opinion, experience and knowledge. Yes, most penny stocks have low share price but that doesn’t necessarily mean that they are undervalued.
Comment by chiko777 — July 12, 2009 @ 5:24 PM
[...] to sell another stock for a major loss. I sold 2 million shares of Megellan Energy Ltd. (MGLG) for a loss of $4,000…WOW! This one really hit me hard, but I wanted to sell. Most people would suggest that I hold [...]
Pingback by MyBarnabas : How I Lost $5,000+ In The Stock Market — August 22, 2009 @ 11:50 AM