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Message: RE: Proxy SGE1 - Outback

RE: Proxy SGE1 - Outback

posted on Jun 16, 2005 08:20PM
Agree that my conclusions don`t sound too positive for the near term, but they are based on present reality. But also agree that anything could happen at any time. And that`s why I think anybody who daytrades this stock (terrible choice - low volume and low volitility/daily movement; how many shares would you have to rotate to make any money, and how long would you have to wait to execute block limit orders? I`ve waited hours at the ask. Market orders? But then you`re feeding the ultimate daytraders, AKA MMs!), like anybody who shorts this stock (news hits and your pants are around your ankles), needs their head examined. My current target is Oct/Nov this year, or sooner, on any/all product fronts, for really good news. But I KNOW nuttin`!

SGE

BTW, I tried the daytrading thing for awhile using my own little strategy (which I later determined won`t work well on OTC stocks - may try it on the NYSE some day though!). My target was to get in and back out within 10 minutes with 1,000 share blocks - VERY stressful! Started doing it just before I left my last job. On my last day, before going in, I turned $240 in about 20 minutes - thought I had it made! Three months and a net loss of $5,000 (my predetermined limit) later, I had learned my lesson, and a lot about how the OTC market works!

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