I see a lot of you taking chances on stocks in the range of .0001 - .01 range. If you don't mind telling me, when do you bail out of these stocks? is it when they double in price or ? I guess what I'm asking is what is your strategy on these stocks.
Posted by Machiavelli on :
That is an individual choice as to when you will take your profits if there are any at all... on most of these you will make losses... the key is to limit your losses and let ur profits ride... and you should come out ahead... though most don't when they first start out in micropennies... stick to higher priced stocks...
if you do decide to go with micropennies do not hold them long... they are not for investing... only trading... be it day or swing trading...
Posted by T e x on :
triple ought stocks?
lol...vegas money only.
think about bid and ask...
Posted by beechwood on :
Typically, I jump in & out of these nano plays within the same trading day or within 24 to 48 hours if there are signs of actual life. I would avoid the pink sheets entirely. Some may debate actual percentages but I would say about 96% of them are pure scams. And ALL of them are highly manipulated by MM's on the trading floor (among other hucksters). There is very little, if any, policing of pinks by the SEC or anyone else for that matter. They're as bad as those work-at-home scams and basically waiting to take your money. Especially now during times of economic hardship.
If you're going to play micro/nano caps stick with the OTC.BB listed exchange. They have more regulatory control and are required to report their activities on a regular basis. A few of the better micros are even listed on the NASDAQ.
The only exception to the in & out plays of micros & nanos would be shell stocks IMHO. You can google this topic more more info on same. Shell stocks can be extremely cheap (in the double/triple zeros to a penny or two)and may explode into the stratosphere overnight. They are rare and every traders dream. I was lucky to hit one a few years ago with LFZA. I made a small fortune in that one. The basic stradegy with these shells is to buy them and forget about them until they show signs of life at some point down the road. Do your own DD when playing these shells and set up alerts on each one should they start moving.
Do not, I repeat - DO NOT - buy stocks based on the recommendations of people in this forum alone! There are to many boiler room bozos around here pumping stocks that are poised to fall. Typically they will make money on the short sell after you lose yours. Track their picks for awhile and you'll see what I mean.
Currently, I am on the sideline in this market with the exception of a few dozen of these shells that I hope one or two of which might take off (not holding my breath at this point). I had to laugh when Tricky Dick Cheney got on tv the other day and said, quote: "nobody saw this current economic crisis on the horizon"...LIAR!! They're all a bucnh of liars!! Many people forecast this mess - myself included. I forecast the current economic meltdown a couple of years ago right here in this forum. You can archive my posts to read my predictions in further detail from way back then.
I got out of the market at that time and started buying up gold and silver bullion while they were still available and relatively cheap. Not stocks -- .998 or better BULLION! Also, bags of pre-1964 silver dimes and quarters while banks still had them laying around (all but gone now I'm afraid). They were the main and viable currency used during the Great Depression of the 1930's. If the treasury starts printing more money as the next solution to things the above might be the only payment accepted.
I had an uncle who was a very experienced trader, investor, and market forecaster. He always said, "listen to what they AREN'T telling you and you'll come out smelling like a rose"... Truer words were never spoken - especially now.
Posted by oldseven on :
Who do you recommend for purchasing penny stocks? Sharebuilder does not allow me to purchase any of them. THANKS
Posted by Newbie13 on :
I use ZECCO.COM they have a 3 day hold after a sale til the money is released for more trading. 4.95 per trade on ALL trades