It was speculated that Harry Lappa, CEO of Penny Stock North Springs Resources, Corp. (OTC: NSRS.OB) was a scam, a pump and dump. More than a month after NSRS showed up on traders screens, they announced today that the re-analyzed the potential reserve estimates for the Goldstar/One Arm Joe Gold Project made by previous operators.
NSRS traded as high as $0.97 in today’s trading session.
NSRS closing price today was $0.96, up 17.94% (+0.146).
NSRS traded volume of 16,703,384, a dollar amount of $15,083,156 based on VWAP: 0.903.
NSRS is trading:
- $ 0.32 above its 20 day moving average,
- $ 0.25 above its 10 day moving average and
- $ 0.18 above its 5 day moving average.
NSRS is up 153.30% since December 29, 2011.
NSRS has a Market Cap of $668.16M with a 696.00M Share Float.
Though there are no actual reserves currently identified at Goldstar, the Company’s ongoing exploration activities are aimed at proving up reserves at the Goldstar site.
New data collected and surface observations from the ongoing drill program at Goldstar, coupled with historical data on the property, comparable mines in the surrounding area, previously available sampling and exploration data pertinent to the Goldstar site, and based on industry standards, indicate that the possible reserve estimate for the property could be as high as 2,769,230 tons grading 0.7 oz. gold/ton, or 1,938,461 ounces of gold.
NSRS is on every penny stock watch list and should be monitored closely for dips in stock price.
“Be fearful when others are greedy, and be greedy when others are fearful.” – Warren Buffett
If you really want to make some considerable profits from the stock market, it is possible to make a considerable amount of money on penny stock trading. When you find the right penny stock to buy, knowing when to buy and sell is the second most important tool to maximizing your profits.
Being technical, analytical or just flat-out greedy when trading penny stocks is the easiest way to limit profits and, sometimes, even lose your entire investment. You need to have a strong and strict strategy to achieve your goal of maximizing profits while minimizing risks in penny stocks.
Listed below are a few of the many points each and every penny stock investor needs to discover.
- Do your own research.
- Trade Responsibly.
- Verify everything.
- Move Fast or Get Left Behind.
- Do not use market orders to enter a position, use limit orders.
- Have a System That fits You.
- If a Stock Gaps Open, Look for Pullbacks to Enter.
- Plan a Trade and Trade a Plan.
- Always use stop loss orders to protect yourself.
- Positive Self- Belief.
- Keep trading as Part of a Balanced life.
- If a stock breaks below our alert price GET OUT. Do not wait.
- View Trading as a Score in Points and Not In Money:
- Always take your profits whenever you can. Do Not Be Greedy.
- Work Hard at Learning How to Trade Properly and Keep Working.
- Do something to make someone else’s life better today.
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