Man.... I am having a hard time pickin a winner.. A few weeks ago I made $3000 from my $2000 investment.... Hot News made pennys go up.... Now is seams very hard to even pick the rite Hot News.... Is everyone else having the same problem or have I lost my HOT Steak? Any coments welcome
Posted by monk on :
If you consider that most pinks don't make it, then enjoy your recent victory. I've been doing this for about 6 years and I've net profitted about 35K in that time. The problem is that those earnings came from only 2 stocks, I've lost big-time on 15 others. If I can offer any advice to anyone, just make sure that you're only using 10-20% of your portfolio when you venture into pinks. The odds are definitely against you, thus the word "investment" can be considered a misnomer.
Posted by bksundar on :
Very Very good advice. I too made most of my money (around 50K) thru a few big winners in GLIF (Aug/Sept), AWYB(Sept/Oct), SSSU(Oct), SEVI(Mar) and QBIT (Sep).
Most of the 50+ pinkies have been losers for me that restricted me from making it to 100K.
Posted by Love the Market on :
I was in and out of 5 or 6 pennies th epast year.
Question: I haven't been watching stocks much the past year or so - too busy. Just been holding UVCL (and had a little left over IBIZ til they got delisted - hope they go to jail).
My question is - do ANY of the pennies have 2-5 day runs like they USED to back in fall of 2003 -Like UVCL & NEOM did back then - or are they now Less-than-a-Day runs?
Thanks,
Steve
Posted by monk on :
MM's seem to be too cautious of late. They allow the ASK to rise, but always seem to keep the bid low to frustrate the flippers. This hurts the volatility, which is key to making money with pinks. JMHO.
Posted by OILDOG on :
Why would they want to "frustrate" the flippers? Traders rushing in is where they make their money. Buying AND selling(liquidity)is key,not volatility per se. Wide spread(low bid) means they either have PLENTY of shares,and arent willing to pay "extra" for yours,or suppressing the pps until the "right" time or short.Either way, it sure kills a stocks volume and movement. If the ask moves and the bid doesnt, it dries up fast.
"Less-than-a-Day runs"=pump and dumps."Seem" to be noticing more stocks doing that. Fewer muli day moves. Just me? wwwoooofff!
Posted by jrussin2006 on :
Hey Hitman, I know what you mean, and I am hoping SLJB can cure my ills. Pinks are like putting chips on a number. GLTA
Posted by Ace of Spades on :
I started tradding in FEB, and there has been dozens and dozens of multi day runs and multi-baggers in that time. I could go on and on. XKEM, NDOL, PGPM, STTK, CRDM, IGAI, SLJB, RSHN, VRDM, AND 3 of the ones I mentioned went up over 1000% in a day....Theres dozens of them. Pinks are tough, but How could you only have 35k in 6 years, Monk?
Posted by bigpoppa on :
Check out TSRR!
Posted by beatheodds on :
I agree, IPRE was another multi-day runner. In my experience there havent been a problem with picking the runners. The key (which I recently learned from SLJB) is to know when to get out.
quote:Originally posted by Ace of Spades: I started tradding in FEB, and there has been dozens and dozens of multi day runs and multi-baggers in that time. I could go on and on. XKEM, NDOL, PGPM, STTK, CRDM, IGAI, SLJB, RSHN, VRDM, AND 3 of the ones I mentioned went up over 1000% in a day....Theres dozens of them. Pinks are tough, but How could you only have 35k in 6 years, Monk?
Posted by ABEX TRADER on :
I am having better success watching the tape and tracking a small portion of stocks then watching when the buyers are coming in!
Low priced issues run from Nov.-Apr. so that gives only small gains in between!
GL!
Posted by before_the_crowd on :
I have been very very careful with HYPED up stocks..like CSHD, AWYB, SLJB (not saying they are bad companies)... I love my money and would not want some Pumper stealing it from me.... I look at the promises...call the investor relation people..not do investing by emotion. (e.g SLNH ..was going down every day....I called the investor relation lady like 10 times and bugged her WHY WHY WHY?????...after each conversation bought some more and this week sold them for gr8 profit....) I dont do toooo many trades in a day...infact I almost donot day trade...I do swing trade and its worked good for me..
Posted by before_the_crowd on :
quote:Originally posted by before_the_crowd: I have been very very careful with HYPED up stocks..like CSHD, AWYB, SLJB (not saying they are bad companies)... I love my money and would not want some Pumper stealing it from me.... I look at the promises...call the investor relation people..not do investing by emotion. (e.g SLNH ..was going down every day....I called the investor relation lady like 10 times and bugged her WHY WHY WHY?????...after each conversation bought some more and this week sold them for gr8 profit....) I dont do toooo many trades in a day...infact I almost donot day trade...I do swing trade and its worked good for me..