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Penny Stocks ????

Discussion in 'BlackHat Lounge' started by jujubee3422, May 4, 2010.

  1. jujubee3422

    jujubee3422 Power Member

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    Hey anyone...making money with penny stocks......

    I heard that it can be profitable but its also looked down upon.. I don't really care..I got cash and I am looking to invest.. I have seen some training communities..where guys are just day trader scalpers buying large amounts of a stock at a given time......

    Any advice ??
     
  2. beyondrecruiters

    beyondrecruiters Junior Member

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    I'd say with micro cap stocks under a couple dollars you have to be very careful. They are very news reliant and tend to go down when there is no hype behind them. I short sell stocks and have minimized many risks, and tend to be successful.

    If you want good training, look up timothy sykes. I have created my own software based on MANY variables, including liabilities, equity, news and news spread time, volume, price targets. It is not something i'm sharing yet, but perhaps we can chat about what your interests are and what you are doing, and we can share input.

    PM me if interested. I'm always on AIM.
     
  3. mofaux

    mofaux Regular Member

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    I second Roth IRA, but with index funds. You only have to readjust them once a year or so.
     
  4. DebtFreeMe

    DebtFreeMe Regular Member

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    Penny stocks are way to easy to manipulate by those that are selling them. These are usually over the counter, and their price is often hard to determine because of low trading volume. So when you trade them, you can actually move the market yourself.

    There is a reason that even penny stocks don't have one big person that has made it with them. Just look at every other market and you will usually find someone that made it big, even if they were eventually demonized for their tactics (such as in junk bonds). Where it comes to penny stocks, they are many, they are volatile, and ones that are worth owning are few and far between...

    If you have money to invest, look at a franchise, a mutual fund, Lending Club, or if you really want to get into stocks, learn to actually day trade in the NYSE, NASDAQ, or other well established market...