Anybody dabble in penny stocks?

SlickFazzer · 04-15-11, 11:21 AM

Very risky...plus dealing with companies on pink sheets with very little volume..

Dad · 04-15-11, 06:25 PM

SlickFazzer, what kind of bankroll do you need to do this?

MexicanStallion · 04-15-11, 06:29 PM

It would seem time consuming.

Has anybody tried out Penny Auctions online?

LLXC · 04-15-11, 06:30 PM

what is the cost per transaction?

compaqDikk · 04-15-11, 06:41 PM

don't do it. ever see 'boiler room' ?you're buying companies that don't exist and have a cardboard sign on a vacant office. ask munchkinman from eog. he was kennys old roommate from odu in the late 70s and got fukkin buried. he actually owned shitt that went below 0 a share and had to take up math tutoring and playing online chinese chekkers for a living

guitarjosh · 04-15-11, 06:50 PM

You're going to need to buy at least $500 worth of shares. The problem is that they're very volatile and you must watch them or you might lose it all. If I were you I would buy big board stocks or options.

stevex · 04-15-11, 06:54 PM

There's positives and negatives, just like anything. To say that you can't make money doing it though just isn't right. It's the same as anything, you have to do your research.

milwaukee mike · 04-15-11, 06:57 PM

i made a lot of money once riding a biotech pig farming outfit from .015 up to 1.20 - thank god it went up in a straight line for about 2 weeks straight, on the first major dip i would've been running out of that thing.

i think the days of getting 100-baggers in a couple weeks are long gone though...

HotStreak · 04-15-11, 07:01 PM

I've been the victim of a pump and dump. BIEL. Sucked. Thing is worth under a penny now after rising to 12 cents at one time. I had more than one chance to take a profit, but was greedy. At least I didn't average down.

Bostongambler · 06-28-11, 11:28 AM

Dad go to thelion.com and punch in ur pennies

ngates815 · 06-28-11, 11:47 AM

Made a good chunk of money on Spongetech....Then I got out of the penny game, just started looking back around and see spongetech is no longer.

jjgold · 06-28-11, 11:51 AM

Better off trading options on Big Board

Penny stocks for suckers

Dad · 06-28-11, 12:05 PM

Originally posted by Bostongambler

Dad go to thelion.com and punch in ur pennies

I'll check that out. Thanks, Gambler.

lyon804 · 06-28-11, 02:10 PM

I look for penny stocks up 10% or more on triple average daily volume that are favorable looking on a chart, jump on and hang on for the ride.

Ralphie Halves · 06-28-11, 03:03 PM

I've had a very nice run in penny stocks. Went 1-2 in plays I was highly invested in, but the 1 was a 1500% return, so I'm up there.

Pennies and big board stocks are both corrupt, the only difference is in pennies, you actually have a chance to be on the right side of the corruption.

flyingillini · 06-28-11, 03:22 PM

Sometimes but on a rare occasion. Most of what I have are in stocks and real estate. Very invested in the market. This is a very unique time we are in. This is when millionaires are made and millionaires become billionaires.

will2survive · 06-28-11, 04:31 PM

True Story: I took a risk when I had money and didn't know much about stocks--I put 10,000 dollars on a penny stock, the stock skyrocketed. My account said 213,000. The stock froze. I never sold and never got my money back. I've been living with this for 4 years but it's time to move on. Plenty of stocks that I sold too early would've made me a millionaire. My motto is if you fall, you wait until you can pick yourself back up and take your chances. Always keep a smile on your face. People have it a lot worse. If you can do something once, you can do it again. Never lose your confidence and adjust to any positive or adverse situation without letting it change who you are. This will be my only post on this. I've lived with this and I've moved on. Good luck in your trading

Dutch · 07-01-11, 08:13 PM

IMHO The best stocks are in the $12-$28 range. Room to move, and some are able to take off and really do something.

$2-$5 dollar stocks can be nice because if they jump $.35 cents or so, you can actually make a lil money. But if they drop $.35, you're taking a pretty big hit.

Ford is seeing good numbers but it's stock is down to $14.02, I thought it was a good buy at $15, $14 is looking like a safe (fairly long-term) bet to me. Thye're in excellent posistion for evetual high gas prices with the focus and fusion.

SoupJigouri · 07-08-11, 06:24 PM

Easy $1000s with Penny Stocks using...

My husband and I discovered Penny Stocks and developed big money with this specific ... LBGE and APRO are A Couple Excellent Picks I made a bunch of cash.

jarvol · 07-08-11, 06:37 PM

Not enough volume in penny stocks. You are better off dealing with options or triple leveraged ETFs for sizable returns.

Waterstpub87 · 07-08-11, 09:06 PM

Originally posted by SoupJigouri

My husband and I discovered Penny Stocks and developed big money with this specific ... LBGE and APRO are A Couple Excellent Picks I made a bunch of cash.

Uh huh. First post and magically you have some great stock picks for us. One being a for profit bridge club with a return on equity of -5839%. And the other having an amazing -171% ROA. I'm going in on both for 6 figures. Great picks.

johnhunt3055 · 07-26-11, 01:29 AM

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invest in stocks

akphidelt · 07-26-11, 02:47 AM

You don't need tons of money, but you'll need tons of time. The way to make money in penny stocks is to not treat them like normal exchange stocks. If you understand most of the penny's are manipulated you got to try an be on the side of the manipulator. Focus on dips, then dump on PR. I'm not saying I'm an expert just been there for a bit. The trick is to not get sold on the dream of a 10000% return. Take the 20-30% when it comes, then move on or wait for that stock to dip back down.

The only people who make money in penny stocks are the traders, the rest are just the fools that believe the story.

tony_come · 07-26-11, 02:59 AM

Hard to make money

every suckers would make money

if this shit is easy

will2survive · 07-26-11, 03:56 AM

turned nothing into a major amount of money and the stock stopped trading before I could sell. Ended up with 0 when the account was at 6 figures from a miracle run. One of the worst moments of my life (aside from family dying). 4 years later, I've finally moved on. bought stock at .0004 and then it went to .007 (kills me)

Dad · 07-26-11, 11:40 AM

Way to bounce back, Willy.

nobull · 07-26-11, 11:51 AM

penny stocks will make you go penniless most of the time..................... unless you got inside info

Snowball · 07-26-11, 12:00 PM

i used to.. but they are 99% sucker traps.
people make mistakes like putting too much money in them
and not being able to get it out.
you can lose half your money overnight.
99% are just stock selling scams, pumped by lies.