Bogley

rockgremlin · Joined: 09 Dec 2004 Posts: 4049 Location: Hotel California

I've got a very hot tip that I'm tempted to drop a few grand on...just wondering if anyone here has experience and could offer some advice.

My previous employer Constellation Copper Corp (CCU) fell on some hard times and laid off 100 employees (including myself) several months ago. Since that time, they have been flirting with bankruptcy, and are on the verge of having their shares delisted from the Toronto Stock Exchange. Their shares went from over a deuce and a half upon startup to two cents ($0.02) a share, and have been hovering there ever since.

Just yesterday, a private investor (Jaguar Financial Corp), together with an unnamed "Large International Mining Company" announced that they own 10% of the stock in CCU, and would like to discuss restructuring within the company. As a result, the share price doubled today to over a nickel a share.

So if I buy now at say eight cents a share, and it goes to over a buck again, I stand to walk away with possibly $10,000 or more.

You see where I'm going with this?

rockgremlin · Joined: 09 Dec 2004 Posts: 4049 Location: Hotel California

Now it's 6 cents/share and climbing....

DiscGo · Joined: 07 Nov 2006 Posts: 4011

I did that a couple of months ago with a company called Sunovia and it paid off quickly. If there are signs of a penny stock paying off, I say go for it, but that's me :D.

rockgremlin · Joined: 09 Dec 2004 Posts: 4049 Location: Hotel California

My main problem is I don't have a trading account, nor do I know how to purchase and sell stock. By the time I get all that figured out, the share price could be triple what it is right now (or more).

BruteForce · Posted: Thu Jun 12, 2008 1:47 pm Post subject:

I only invest in companies that actually show a postive revenue stream. At present, CCU is at -116.01 for the year. WTF is that company doing to have such a negative revenue number?

Copper is doing well again, but with this companies performance over the last 2 years, it looks like a dog with fleas to me.

Iceaxe · Joined: 07 Mar 2005 Posts: 7792 Location: Local Bordello

What's the stocks trading symbol?

Set up an account with one of the on-line brokers, easy to do. I have one with Charles Schwab.

I've had both good and bad luck in trading stocks with advance info...

I lost a bunch once on a company called Covol. I did the design work on an experimental pilot plant that was supposed to turn coal dust into fuel pellets.... great idea, and would have made a mint if it worked.... problem was Covol could never get the pilot plant to do what it was supposed to do.... Covol went belly up before they could refine the technology.

I made out good on Chrysler when they were on the brink of disaster.... I figure no way in hell the government would let them go belly up.... and I was right. I also knew Lee Iacocca was a top notch "car guy" and not a candyass bean counter.

Ya win some and ya lose some....

:cool2:

rockgremlin · Joined: 09 Dec 2004 Posts: 4049 Location: Hotel California

BruteForce wrote: I only invest in companies that actually show a postive revenue stream. At present, CCU is at -116.01 for the year. WTF is that company doing to have such a negative revenue number?

Copper is doing well again, but with this companies performance over the last 2 years, it looks like a dog with fleas to me.

Ya, copper is doing great, but they seriously mismanaged their money. They spent waaaay too much on maintenance and weren't able to recover the amount of copper out of the heap leach that was originally planned in the feasibility study. Somebody stands to make a boatload of cash off that copper mine ~ someday. Whether it's the guys looking to buy them out now or someone else I dunno. There's high grade copper on the surface that CCU paid to strip, the labor force is in place, and copper prices are high. Any savvy investor with some decent capitol would have to be retarded not to at least give it a second look.

Either way, the only important thing here is what the stock will do in the short term. Any positive news will jack up the share price. Just gotta buy before it gets too high.

parrothead_madness · Posted: Thu Jun 12, 2008 2:37 pm Post subject:

I've made money and lost money. And I've been damn lucky too. I wanted in on an IPO several years ago, I just KNEW it was going to be the big one. I didn't raise the funds in time. My sister did and lost almost all of it. I bought a restricted stock for $ 0.25, watched it go to $9, by the time the year passed and I freed up the certs it was $0.004! I watched as my $1k went to $36k, to $16.

My meager advice is move fast and pay very close attention. Don't invest anything you can't afford or aren't willing to lose. An online account is the only way to go these days. My live person retired, but I do still have an active account with Alpine Securities in Salt Lake. Online is faster and cheaper, but some transfers, particularly if you get into restricted stuff need a warm body.

DiscGo · Joined: 07 Nov 2006 Posts: 4011

rockgremlin wrote: My main problem is I don't have a trading account, nor do I know how to purchase and sell stock. By the time I get all that figured out, the share price could be triple what it is right now (or more).

There are ScottTrade locations locally that will allow you to walk right in, get signed up and walk right out and buy your stock.

BruteForce · Posted: Thu Jun 12, 2008 3:41 pm Post subject:

I've had an E*Trade account for the past ~8 years. I have investments in stocks, mutual funds and bonds.

Thus far, I'm averaging +60% return, but I've had my share of dogs. I had Starbucks for a while, but sold at a $3k loss before it started it's massive downward spiral.

parrothead_madness · Posted: Thu Jun 12, 2008 3:52 pm Post subject:

BruteForce wrote: I've had an E*Trade account for the past ~8 years.
My dad uses E*Trade as well and has been happy with them.