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Has anyone seen it? My wife rented it last night as a reminder. Although most probably don't deal with a "live" broker, the same synergy can be applied to electronic trading. Pump and dump. I'm new to penny trading, and am still absorbing the "game". I've made a few plays and done well, and made a few others and lost. Based on what I've seen thus far, Dardadog and others have it right with pennies....get in, get out. Don't fall in love with a stock. If you play a stock and it loses, take your losses and move on. If it moves and makes you money, take it, (don't be greedy), and move on to the next. So far, these analogies are working and making me money.
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Saw Boiler Room... let me tell you something. I worked for Datek Online, and in the early years (98, 99), THAT is how brokers lived. Great movie to reflect on.
True what you say about penny stocks, UNLESS you hit the jackpot, like the next MSFT.
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Yeah great movie I've watched it a couple of times. Just for the record I think all penny stocks are scams ( don't mean I don't trade them though ) By the way Repoman 75 MSFT was never a penny stock, went public at about $12.00 if I remember right
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quote:Originally posted by poorman: Yeah great movie I've watched it a couple of times. Just for the record I think all penny stocks are scams ( don't mean I don't trade them though ) By the way Repoman 75 MSFT was never a penny stock, went public at about $12.00 if I remember right
MSFT- .20$ Sept. 1986.... and yes there are many more, but none with that much go....
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Repoman75, Had NCDP the other day. 25K @ .23, out at .29.
Anyway, the point is, get in, get out..win or lose...it seems to work, (pennies anyway),..sometimes winners, sometimes losers ....thanks for the comments....
Sorry posted the wrong numbers...should have been .023 and .029 Marty
[This message has been edited by Marty (edited December 16, 2004).]
Microsoft shows .9 cents per share in sept. 86, However you also need to acount for the 9 forward splits they have had starting in 1997 and the last in 2003 which brings it up to 25.00 dollars per share to start, if the share price was adjusted accordingly. Almost all of the splits were 2 for 1 with 2 of the splits being 3 for 2.
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Investors who have fallen into the trap of the first fallacy believe Wal-Mart, Microsoft, and many other large companies were once penny stocks that have appreciated to high dollar values. Many investors make this mistake because they are looking at the "adjusted stock price," which takes into account all stock splits. By taking a look at both Microsoft and Wal-Mart, you can see that the respective prices on their first days of trading were $28 and $25 even though the prices adjusted for splits is $0.09722 and $0.02444 (at time of writing). Rather than starting at a low market price, these companies actually started pretty high, continually rising until they needed to be split. (Click here for a spam that claims Microsoft and Wal-Mart started out as penny stocks).
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Loved that movie. If you can't be in their position then take advantage of their position. Meaning get in before a run and get out.
But you also can invest long term in a company without doing DD. See if they are for real. Go there, call, email, find out whats going on. If everything is real, then you can make it BIG in penny land.
Yes, there are companies now that the world knows of that were just pennies in the past. The SEC is protecting us and will eliminate frauds, so it's hard to find a fraudlent stock now.
If you come across one, by all means, send them a complaint.
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