Trading Alert : NEWL – shipping sector -Fun with pennies

Sold 25,000 shares at 4.85 cents ( pre reverse split 50 / 1 )

At 50 to 1 that equals selling at 50 times 4.85  cents =  500 shares  I sold for $ $2.42

( my 25,000 shares then would be 500 with the reverse split had I not sold)

The newly consolidated shares cratered at the consolidation and instead of being  $2.50 – $3.00

they declined to 38 cents( no misprint).

I never take advice from the forums on yahoo.com/finance  – and this stock illustrates my brother-in-laws’  take on the contributors – ” they hold a hundred shares -if that- and are experts on everything except the stock market”

On NEWL several of the posters cannot even divide by 50 to figure out what happened. Others actually ” brag ” about how much they lost. The most common mistake is chasing the price as it declines. OK – maybe I was lucky in my timing  rather than smart in selling – but it is good to be both.

This morning Friday , May 16th I bought 2000 shares at .64

Time will tell if the company intent to remain in business will pay off . They are buying ships and in coal – two of the worse sectors to be in – so the shares are cheap for a reason.

NEWLEAD HOLDINGS LTD(NEWL:NASDAQ, US)

0.7150USDIncrease0.3251(83.38%)Volume: 
Above Average
As of 16 May 2014 at 10:30 AM EDT.

QUOTE DETAILS

Open 0.4700 P/E Ratio (TTM)
Last Bid/Size 0.7100 / 110 EPS (TTM) -56,034.36
Last Ask/Size 0.7150 / 178 Next Earnings
Previous Close 0.3899 Beta 2.34
Volume 3,734,160 Last Dividend
Average Volume 2,156,391 Dividend Yield 0.00%
Day High 0.7150 Ex-Dividend Date
Day Low 0.4500 Shares Outstanding 10.1M
52 Week High 8,235.00 # of Floating Shares 10.02893M
52 Week Low 0.3788 Short Interest as % of Float 0.53%
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