Gryphon Resources (GRYO.PK)

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Gryphon Resources (GRYO.PK)

Post  lukera on Mon Nov 29, 2010 11:42 am

Bought in on wednesday at $0.185, sold today at $0.34

83% gain, but the stress of buying into this pump and dump was definitely not worth it. will not do this again.

This also comes on the heels of my epic failure with Confederation minerals(CFM) where I was down 50% when I sold.

I chalk these two trade up to experience again and continue to learn. . .

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Re: Gryphon Resources (GRYO.PK)

Post  Max on Mon Nov 29, 2010 11:37 pm

Wow. 83% gain is pretty crazy. What did you learn from these?

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Re: Gryphon Resources (GRYO.PK)

Post  lukera on Mon Nov 29, 2010 11:53 pm

I learned that by researching pump and dump newsletters that come around. you can pick ones that have a vast following.

Because they have so many people following they definitately have the power to artificially inflate the stock they pick temporarily.

It is like clockwork....you get the email, by the time you check the stock, it is already beginning to climb.

If you get in early, get out early there is no problem.

If you hesitate on your entry and delay your exit, you'll lose it all.

In any case, this kind of trading is very risky, very stressful, and in no way does it reflect what reasonable investing is about.


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Re: Gryphon Resources (GRYO.PK)

Post  Max on Tue Nov 30, 2010 12:04 am

Sounds good. I would paraphrase to say that irrational popularity has a very significant impact on stock price movements that fundamental analysis alone cannot predict. You might do well to study this type of trading a little more even if you decide not to take part, as I am sure you can learn much more about boom and bust cycles in stock prices than you can from charting analysis.

To me, pump and dump psychology relates well to fashion. What is in style is popular because it is new, and loses popularity as it becomes familiar. In the stock market, these tidal forces are the way of life, and you have only a limited ability to fight the tide.

Keep in mind that this behaviour is all short term and fundamental analysis will win out in the long term.

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