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EPS100Momentum
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Author has a degree in Engineering and is an avid investor in the market. Experience in industrial materials and structures. In college studied atomic & nuclear physics as well as material engineering. Eastern European
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  • Plaztikman
    , contributor
    Comments (28) | Send Message
     
    seekingalpha.com/news-...
    29 Apr 2011, 03:32 PM Reply Like
  • chill7
    , contributor
    Comments (46) | Send Message
     
    I find it interesting that after an announcement of acquiring $1 million in financing based on an issuing of its common stock to the investor based on its past five days average trading price, the next day the stock has a crash as metoric as it's climb in the last month. Nothing fundamental has changed regarding the seemingly bright outlook for LEXG. In fact this week all press releases have been very positive. So why the colossal sell off. A sell off which started before the aforementioned press release at 10:52 am this morning.
    It would seem that a high stock price for the average of the past five trading days would result in an issuance of less stock to the private investor to equal the one million dollar value. Did the insiders at LEXG spend the last five days buying any ask price they could find to drive up the price. The same shares which more than likely were issued under ten cents to the insiders which have risen over 1000%. Nice time to sell them off in a multitude and laugh all the way to the bank while everyone else is in a panic not knowing why the sudden turn around after all the positive news of late. CEO Alex Walsh stated he would commit 10 million of his own shares in future efforts to procure additional financing in the future so as not to dilute current shareholders value by issuing new stock. This all seems to fishy to me what happened today. Selling was so rabid it took nearly half an hour to get any stock sold at all. As a shareholder who is long LEXG it was extremely painfull to watch the stock drop from $9 to $4 before my trade could be executed. Considerable wealth going down the drain feeling helpless because of the OTC listing of the stock. I'll admit a pullback was due as this high flier had to run out of gas soon. I was expecting maybe a 20% or worse case scenario 30% pullback, but 65% is horrendous! LEXG appeared to be doing everything right and got slapped down with extreme prejudice. I can't find anything negative anywhere to account for this abomination which occured today April 29, 2011, but I know this day will be remembered as much as the astounding rise this stock has had over the last six weeks. I hope this is an aberration for LEXG as I will continue to be long as I like the future prospects but it was brutal. Easy come easy go as they say. I got in not as early as I could have but being up +700% is much better than 300%. We've all heard it a thousand times bears get fed, bulls get fed, hogs get slaughtered so fry me up. Did trim position following this thesis before the huge run up this week and felt like throwing up for being smart. Only OTC stock I have and found out the hard way just because you want to sell even well below the ask price doesn't mean you can. Good luck to anyone else feeling their oats because they were pigging out on them too long like me.
    30 Apr 2011, 12:36 AM Reply Like
  • norrisma08
    , contributor
    Comment (1) | Send Message
     
    I feel your pain Chill7. I was up 20,000 and was about to execute a sell on Thursday but wanted to hold out til Friday. I read all the reports from thestreetsweeper and motlyfool but held on instead. I followed everything from the market opening friday morning and frantically made a call to my broker to sell everything. When I put the call in it was at $4.70 and by the time it was executed I sold at $3.77. i took a net loss of around $1,500. I was kicking myself all day. This was a classic pump and dump, yet my greed got in the way. I don't know what you bought in at but if i were you I would sell as soon as the price is where you bought it. Its too risky. The original investors could be driving the price, slowly, yet again to make a huge profit, and you might not be in sync as where to sell off. I've lost faith in this stock and hope the founder and people behind it eventually find themselves behind bars. This isn't what the market is all about!
    3 May 2011, 10:01 PM Reply Like
  • StockShorter12
    , contributor
    Comments (56) | Send Message
     
    Here's a post about the possible merits of the price rise:

     

    ev38.blogspot.com/2011...
    4 May 2011, 11:41 AM Reply Like
  • lleblanc
    , contributor
    Comments (2) | Send Message
     
    I live in Phoenix. Drove to Scottsdale to the corporate address
    of LEXG Lithium Exploration Group. Guess what - office vacant with a
    with no forwards. Asked the landlord. Dead end. Their most current
    FORM 8-K filing this month lists address as:
    3200 Noth Hayden Road, Suite #300, Scottddale,AZ 85251
    Nothing There !!! Phone (480) 641-4790 just voice messaging.\
    No real person answers. Where is the real company and casn you legally have an invalid address on an official SEC filing ?
    14 May 2011, 05:17 PM Reply Like
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