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Penny Stocks

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M

mattinctown

Apr 29, 2010 4:49 PM
Just wondering if anyone is involved with these, I just started a few weeks ago and have turned a very nice profit so far.
Apr 29, 2010 4:49pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Apr 29, 2010 4:53 PM
I bought into one, lost $250 and haven't bought any since then. That was about a month ago or so.
Apr 29, 2010 4:53pm
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Apr 29, 2010 4:56 PM
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.
Apr 29, 2010 4:56pm
Q

queencitybuckeye

Senior Member

7,117 posts
Apr 29, 2010 5:01 PM
"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.
Apr 29, 2010 5:01pm
M

Manhattan Buckeye

Senior Member

7,566 posts
Apr 29, 2010 6:03 PM
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).
Apr 29, 2010 6:03pm
sleeper's avatar

sleeper

Legend

27,879 posts
Apr 29, 2010 6:15 PM
Anyone investing in "Penny stocks" is a dumbass. They are valued at pennies for a reason, just remember that.
Apr 29, 2010 6:15pm
S

sjmvsfscs08

Senior Member

2,963 posts
Apr 29, 2010 6:39 PM
^^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.
Apr 29, 2010 6:39pm
LJ's avatar

LJ

Senior Member

16,351 posts
Apr 29, 2010 6:46 PM
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
Apr 29, 2010 6:46pm
sleeper's avatar

sleeper

Legend

27,879 posts
Apr 29, 2010 7:00 PM
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.
Apr 29, 2010 7:00pm
Chesapeake's avatar

Chesapeake

Senior Member

1,603 posts
Apr 29, 2010 7:02 PM
Both of you go to the damn bank!
Apr 29, 2010 7:02pm
S

sjmvsfscs08

Senior Member

2,963 posts
Apr 29, 2010 7:22 PM
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...
Apr 29, 2010 7:22pm
LJ's avatar

LJ

Senior Member

16,351 posts
Apr 29, 2010 7:25 PM
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.
Apr 29, 2010 7:25pm
S

sjmvsfscs08

Senior Member

2,963 posts
Apr 29, 2010 7:28 PM
Well then I just learned something. haha Either way I'm happy.
Apr 29, 2010 7:28pm
sleeper's avatar

sleeper

Legend

27,879 posts
Apr 29, 2010 7:30 PM
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:
Apr 29, 2010 7:30pm
S

sjmvsfscs08

Senior Member

2,963 posts
Apr 29, 2010 7:33 PM
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.
Apr 29, 2010 7:33pm
sleeper's avatar

sleeper

Legend

27,879 posts
Apr 29, 2010 7:35 PM
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.
Apr 29, 2010 7:35pm
S

sjmvsfscs08

Senior Member

2,963 posts
Apr 29, 2010 7:42 PM
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.
Apr 29, 2010 7:42pm
J

jmog

Senior Member

6,567 posts
Apr 29, 2010 8:45 PM
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.
Apr 29, 2010 8:45pm
Q

queencitybuckeye

Senior Member

7,117 posts
Apr 29, 2010 9:26 PM
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.
Apr 29, 2010 9:26pm
M

mattinctown

Apr 29, 2010 9:46 PM
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.
Apr 29, 2010 9:46pm
Pick6's avatar

Pick6

A USA American

14,946 posts
Apr 29, 2010 10:29 PM
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.
Apr 29, 2010 10:29pm