Step 16 - The SLJB Disaster of 2007

How To Double Your Way To A Million In 28 Steps
Before talking about the "SLJB disaster of 2007", I wanted to update where I presently am regarding my "Stake".

On January 13th, 2007, I found a penny ($0.01) on the floor at a Walmart bathroom bringing my total to $197.48 .

Currently invested in the Penny Stock Plan - SLJB: $25.20 and WRNW $26.00

Leaving me with $146.28 in active working capital.

I will admit using the "Double Your Way to a Million with Penny Stocks Plan" has not been going very well up to this point. Penny Stocks are a tough way to go to double your money.

At this point both stocks I purchased have dropped off. WRNW is down almost 54% and SLJB is down over 33%.

I made some mistakes in starting off purchasing the penny stocks and learned a few lessons in the process.

(1). Never buy a Penny Stock that is being talked about on a forum. When people are talking a lot about it, it either has already done its thing or someone is hyping it or pumping it. This rule probably doesn't apply every time or in every circumstance but overall it is unwise to buy the stock if there is to much noise on the forums.

(2). If you buy a stock because some free advice service on the internet is promoting it there is a good chance you will lose money.

The problem with the above is that sometimes information coming my way about a certain stock proved to be potentially profitable. Only not on the stocks I decided to pick. Strange how that seems to work that way, ain't it?

(3). If you buy and sell a stock and make some money , do not make the mistake of going back into the stock for a second run. More than likely you will get burned.

When I made the first trade with SLJB I made $8.47 profit. After it dropped further I went back and bought 2800 more shares on January 9th, 2007 .

The next day a catastophic news release sent the stock price plummeting.

Comments like:

"The Ontario Securities Commission (OSC) has commenced an enforcement proceed against the Company" and "The U.S. Securities and Exchange Commission (SEC) has also informed the Company that the SEC is conducting an inquiry into the matters that are the subject of the OSC proceeding."

In addition the company announced that it was going dark:

"the Company does not intend to respond to requests for information from shareholders or other interested parties except to refer them to this press release"

Things do not look good for that Double To A Million Penny Stock Purchase.

At this time, the Stock has been fluctuating between $0.0045 and $0.006 a share. It needs to get back up to $0.009 to break even minus a small SEC Fee.

Stay tuned as I wade through the shark infested waters of the Penny Stock Market. At this point I am not sure I want to remain in the water or rush for the shoreline in a desperate attempt to save myself.

Present Stake: $197.48

Motto: It is only "one" found penny.

Regards,

Xinfinitum


This Million Double Blog is based upon the Double Your Money Plan "How to Double Your Way to a £Million in 28 Steps". It is an attempt to Double Up a Penny by doublin a penny to one million dollars, starting from nothing. At the beginning you start by finding a penny and then double your money until reaching the end of the million dollar plan.


How to Double Your Way to a Million in 28 Steps
D.T.A.M.P. - Double To A Million Plan

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