Monday, March 4, 2013

GNIN My Biggest Short Loss to Date. What to take away from it.

http://profit.ly/1MnNdc?aff=1559

I shorted GNIN because I saw it was bouncing a little bit. I figured that it would be a temporary bounce and continue to dump like the past Brighton Markets picks. However, the signals were all pointing to this being a bigger bounce. My hard headedness derived from this gain. I wanted to bank again so bad I was overlooking somethings.

http://profit.ly/1MnMi0?aff=1559

Signs That I should have listened to that pointed to cutting my loss a lot sooner.

1. Stock has a lower market cap(less shares outstanding) compared to some other pumps. Can move quicker in either direction

2. They were issuing some good news that newbie traders fall for.

3. Volume was picking up which showed that people were buying because the news or because Brighton was cold calling again.

4. Emails continue to pump GNIN.

5. GNIN is so far from its highs. Risk of a bounce was high.

Here is some wise words from a very good trader. Nate of investorslive.

You can see that I went relatively big on GNIN and forced this trade. I luckily was able to put my pride aside and cut my loss. Today GNIN hit $1.50 in the morning. A very valuable lesson to all, stay humble and cut those losses quickly.

It looks like they are cold calling again so becareful this could bounce a little longer. This was a member in chat confirming that he got a call.

2 comments:

  1. I'm not a newbie trader but I don't have enough money to short like you do. Do you realize all the money you are 'stealing' from people who believed in this company? Will you not stop 'til you bankrupt a company? The shorts on GNIN were obviously counterfeit. It amazes me how people like you are proud of what you are doing.

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  2. You clearly dont have much experience with penny stocks. GNIN was a clear pump and dump scheme. Short sellers had no effect on GNIN (theres not even enough shares to short). I barely could get any shares to short. I wish I could of shorted a bunch whenever I wanted but thats not the case. The reason why all pump and dumps collapse is because insiders have millions of free trading shares they are selling into any suckers who buy bc promotional mailers, cold callers, emails, etc. GNIN ECAU and others are all companies set up from the start for one purpose and purpose only to enrich insiders through a pump and dump scheme.

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