Archive

Penny Stocks

  • mattinctown
    Just wondering if anyone is involved with these, I just started a few weeks ago and have turned a very nice profit so far.
  • justincredible
    I bought into one, lost $250 and haven't bought any since then. That was about a month ago or so.
  • j_crazy
    i'm not savvy enough for day trading. not sure if penny stocks require a lot of that, but they don't appeal to me.
  • queencitybuckeye
    "Playing the market" in any form holds no interest for me, I invest in undervalued companies in a limited number of market segments where I have some level of expertise.
  • Manhattan Buckeye
    queencitybuckeye wrote: "Playing the market" in any form holds no interest for me, I invest in undervalued companies in a limited number of market segments where I have some level of expertise.
    The only stocks we invest in are in companies we use or have used a lot. My wife has a bunch of Southwest from back in the day when she flew them a lot, and we have some Apple stock, for most of my career it has been a complete PITA to get clearance to buy any individual stock, and often times knowing a company's numbers well before the street it was pretty interesting to see the daily fluctuations right before an earnings release (and on the other hand it was interesting to see trading when there was a potential leak of information).
  • sleeper
    Anyone investing in "Penny stocks" is a dumbass. They are valued at pennies for a reason, just remember that.
  • sjmvsfscs08
    ^^You do know penny stocks are considered anything under $5, right? And if someone goes from ~$18,000 to ~$63,000 in about a year while playing primarily penny stocks, they are a dumbass?

    Call me a dumbass. :D And I'll laugh all the way to the bank.
  • LJ
    sjmvsfscs08 wrote: ^^You do know penny stocks are considered anything under $5, right? And if someone goes from ~$18,000 to ~$63,000 in about a year while playing primarily penny stocks, they are a dumbass?

    Call me a dumbass. :D And I'll laugh all the way to the bank.
    Unless it was Sirius, I'll call you a liar
  • sleeper
    sjmvsfscs08 wrote: ^^You do know penny stocks are considered anything under $5, right? And if someone goes from ~$18,000 to ~$63,000 in about a year while playing primarily penny stocks, they are a dumbass?

    Call me a dumbass. :D And I'll laugh all the way to the bank.
    I'm talking real money. Some people get lucky sure, but 99% of people investing in penny stocks go broke, and you can take that to the bank.
  • Chesapeake
    Both of you go to the damn bank!
  • sjmvsfscs08
    Most people investing in penny stocks may go broke, but most people aren't very smart. Half of us are indeed below average. I got into Ford when it was hovering around $4.80, Huntington Bank was another great buy at around $3.00. My favorite buy though was Libbey Inc. at around $3.00 as well. You're right about being into Sirius; but I was into Sirius awhile ago, but not in the last year or so.

    They may not be worth pennies, but I was under the impression that anything under $5 is considered a penny stock. No? I'm a novice so I could easily be wrong.

    Personally I'd recommend the cheaper stocks over the known companies more often than not. You can pump a lot of money into the cheaper stocks and have an easier route to doubling your money quickly. Although I always wait for Apple to drop to $150 and ride it to $200 as a pure rule of thumb. I also wait for Wal-mart to hit $45 and sell it at $55 every time. I mean why not? It's not like those companies are going bankrupt anytime soon...
  • LJ
    sjmvsfscs08 wrote: Most people investing in penny stocks may go broke, but most people aren't very smart. Half of us are indeed below average. I got into Ford when it was hovering around $4.80, Huntington Bank was another great buy at around $3.00. My favorite buy though was Libbey Inc. at around $3.00 as well. You're right about being into Sirius; but I was into Sirius awhile ago, but not in the last year or so.

    They may not be worth pennies, but I was under the impression that anything under $5 is considered a penny stock. No? I'm a novice so I could easily be wrong.
    No...

    Pink Sheets only , OTC Market. If it's still listed, it;s not a penny stock.
  • sjmvsfscs08
    Well then I just learned something. haha Either way I'm happy.
  • sleeper
    sjmvsfscs08 wrote: Personally I'd recommend the cheaper stocks over the known companies more often than not. You can pump a lot of money into the cheaper stocks and have an easier route to doubling your money quickly. Although I always wait for Apple to drop to $150 and ride it to $200 as a pure rule of thumb. I also wait for Wal-mart to hit $45 and sell it at $55 every time. I mean why not? It's not like those companies are going bankrupt anytime soon...
    This methodology is rock solid. :rolleyes:
  • sjmvsfscs08
    Well it's 300%-growth solid. I don't claim to be an expert, but I had money to play with and went about it this way.
  • sleeper
    sjmvsfscs08 wrote: Well it's 300%-growth solid. I don't claim to be an expert, but I had money to play with and went about it this way.
    I really don't believe a "novice' would invest $18,000 of real money into the stock market, especially diversified over a measly 3 stocks. I mean 300% is awesome, but you have to understand that was pure luck and extremely risky, and my advice would be to not let it go to your head, because more often than not you will lose your shirt, and you can take that to the bank.
  • sjmvsfscs08
    haha No those were just three of the under-$5 stocks I bought into when the shit hit the fan. During recessions everything is basically on sale. I don't pay a dime for my precious Ohio State education ( ;) ) and thus threw some spare cash into stocks gradually during the worst of the recession. I completely understand how crazy it sounds, I've only taken one economics class in my life and wouldn't consider myself an expert, but i guess you're right I'm not a novice.
  • jmog
    I have plenty of money in the market, but its spread out so much...

    I was smart on one thing, I "saw" the downturn coming and moved most of my stocks (small, mid, and large cap) to bonds and money markets. I wasn't gaining much, but I sure didn't lose 40% like most did.

    I then moved it back to stocks sometime last year and have rode the wave.

    I don't mess with single stocks, I work with mutual funds, IRAs, 401ks, etc. I could hack it if I had time to look at it everyday allday, I have taken quite a few stock market classes, but I just don't have the time to dive into it. So I just play it safe, spread it all around and try to watch for the big recessions.
  • queencitybuckeye
    LJ wrote:
    sjmvsfscs08 wrote: ^^You do know penny stocks are considered anything under $5, right? And if someone goes from ~$18,000 to ~$63,000 in about a year while playing primarily penny stocks, they are a dumbass?

    Call me a dumbass. :D And I'll laugh all the way to the bank.
    Unless it was Sirius, I'll call you a liar
    I won't go that far, but I'm a lot more willing to be a believer if someone tells me about their next big score instead of their last one.
  • mattinctown
    sleeper wrote: Anyone investing in "Penny stocks" is a dumbass. They are valued at pennies for a reason, just remember that.
    Yeah, call me a dumbass because I've actually made money???? Nice. I wouldn't expect anything less from you.
  • Pick6
    I've messed around with some of these.mostly pharmaceutical stocks. anx( bout at .15, sold at .47)..made some money off of xoma, nexm. even bought ctic on the lows and sold on highs. got screwed on that one though...took to big of a gamble on their drug that was rejected. right now im in one i like.. cbai. They are in the cord blood business.