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Author Topic: the trick to making money in pennies...
blueranger
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the bottom line trick to penny stocks is this..

first rule, is that penny stocks do not go up
in the past few years only a few of the thousands went from pennyland to dollarland.

second rule, these things always recycle... look
the dog ncdp has big news and will fly on monday..


third rule, 99% percent of these thing operate like a sine wave and move in cycles...

So you become familar with 10 or so penny stocks and you buy on cycles... cnes buy now at .016 and
sell next month at .003
ptsc buy now at .09 and sell in a few months at .15

msep buy now at .025 and sell next month at .05

wait for gtel to drop back and buy it...

this is a hard and fast rule and is 95% reliable..
they call it swing trading...

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Im the guy that buys a penny stock and hope it hits the $'s

BUT. I cost average down all the time. When it drops, I add more and pay less overall per share for it. If the stock turns out a dud, then I won't loose as much.

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blueranger
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ya, thats how you lose money... I lost a lot doing that.. what happens is it pops you ride it up then there is no news for 2 months and you ride it down...

watch the rsi and sell when it gets over 70..
and buy back in when its down around 30...
or at least below 50...

this is always true 95% of the time..

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blueranger
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if you sell over 70 and buy when hit 50 you
will always make money..RSI

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Machiavelli
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quote:
Originally posted by blueranger:
the bottom line trick to penny stocks is this..

first rule, is that penny stocks do not go up
in the past few years only a few of the thousands went from pennyland to dollarland.

second rule, these things always recycle... look
the dog ncdp has big news and will fly on monday..


third rule, 99% percent of these thing operate like a sine wave and move in cycles...

So you become familar with 10 or so penny stocks and you buy on cycles... cnes buy now at .016 and
sell next month at .003
ptsc buy now at .09 and sell in a few months at .15

msep buy now at .025 and sell next month at .05

wait for gtel to drop back and buy it...

this is a hard and fast rule and is 95% reliable..
they call it swing trading...

When your holding a stock for months instead of days its called Position Trading not Swingtrading .... [Roll Eyes] just wanted to let you know... as for the RSI angle.. guess i convinced ya of that one.. hehehe jkkk ... [Big Grin]

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blueranger
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I am not advocating holding for months...

months suck...

if you watch the rsi you can get in and out in days...

when the rsi goes over 70 sell...

stay out till it hits 50 or below watching history..

I only hold a stock for months when i get stuck..
i hate it...

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blueranger
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now most stock will only spend a few days at 70 or over and will languish at 50

so cnes is a good example your rsi history shows
it languishing at or below 50 for a month so stay
cash or buy someother stock till the month is up..
then hop on...

The goal is to get in and get out at the right time and cut the time your in the stock...

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cruz
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good points blue.
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blueranger
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some stocks bottom will be rsi 30
and they will pop to rsi 50 and never
go over 70 others will be rsi 50 and
pop to rsi 70... look at the history..

it may spend 30 days or 30ish days around
rsi 50... jump in... then in the next 5 or 10
days its rsi will probably pop... when it
touches 70 start looking for the parachute..

In fact it may be better to trade the rsi and
forget about price... might be better for your
nerves...

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blueranger
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if you would have followed this rule a
just a few days ago you would have bought
pax becasue it was rsi 30... and your 50
cents would be 150 today... and you would
be selling right now..

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blueranger
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go ahead and test this rule on
adsx its rsi is 30 now and buy it and hold
it to rsi 50

and stop losing money...

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cruz
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mlxo is a good example to play
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blueranger
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mlxo will play but sell it when the rsi
touches 50.. notice hit it cycles between
30 to 50..

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cruz
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that's my plan [Smile] adsx is interesting. but what about stocks like BOOM where it keeps going and going.
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blueranger
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boom is in a serious decline right now..
just finished the over 70 rsi and its turned
down ward... you could by at 50rsi but it
looks like the macd has a long way to go to
reach zero... so just wait on boom.

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cruz
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well i can't afford BOOM. i am just thinking of affordable pennies that have the same potential like GTEL or CNES - hold long. could you explain the histogram?
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blueranger
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this macd and histogram are at the bottom at
stock charts dot com

the macd is a large black line and a small blue line... when the black line is above the blue line its running...they cross over one another..
so when the blue line is above the black line it really declining... like boom

now the histo graph is the little graph that runs in the middle of the macd... it is made up of squares... and the squares always form a wave.

so the histogram can act as an indicator of what the macd is going to do...if its on top of the line its running... and it will never just drop below the line it always forms a wave... so it lets you predict the trend.

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blueranger
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go look up boom at stockcharts dot com
its the perfect example....

macd is at the bottom..
the blue line is over the black line so its declining.... and it has a long decline ahead of it...

the histo graph is just below the macd... green and white boxes..

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cruz
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thanxs blue! thank god for firefox too. this tab browsing is a must to have in stock trading
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cruz
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yes - people should have sold boom when the black crossed the blue.
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cruz
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they should have sold the latter part of march
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DayRunner
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What place have you guys found the best charts?

Also, can you explain the RSI a bit, and help out those that don't know?

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blueranger
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stock charts dot com

rsi is the top graph on the chart at stock charts dot com..

it ranges between 30 and 70 when it is down around 30 the stock is over sold and the price is at it bottom.. and when its over 70 its over bought... go pull a stock chart

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cruz
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RSI - Relative Strength Index
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DayRunner
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Yeah, they have some nice charts there. Thanks!!

I'll read up some more.

I've run into a lot of people that say that the candlestick charts are very useful...but it seems most of them don't actually use them and trade stocks..haha. These charts on stockcharts.com, have much more to offer than just a standard candlestick chart.

One thing I have been noticing lately is that where many people will steer away from the widely traded stocks like GTEL, ICAN, and all those that turn really big volume, these are the ones that offer the most dependable cycles...therefore giving the best security, compared to many penny stocks that will hit one spike in a year time.

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blueranger
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qbid
when its rsi hits 30 it starts back to 50
and then falls back to 30 and then pops...

its like a trend...

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Ktrain420
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good post blue.

--------------------
"IT'S NOT LUCK IT'S DAYTRADIN'"

"HERE'S MY 2 CENT'S, SEE IF YA CAN TURN IT INTO A BUCK"

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bullgod74
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RSI - Relative Strength Index.

The RSI ranges from 0 to 100, but a stock is considered overbought if it reaches the 70 level, meaning that you should consider selling. When it is a true bull market, an RSI of 80 might be a better level since stocks often trade at higher valuations. Likewise, if the RSI approaches 30, it is a strong buying indicator (20 in a strong bear market).

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Brad

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zoltan
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Agree'd good post!

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Dead Kennedys-"Give me convenience or give me death"

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devilbutt
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Good information. I started using charts (macd, rse, slow stochastic) about 8 months ago. VERY interesting. Actually I tried using that info on my 401k. Got out mutual funds the beginning of April and into Stable Value/GIC. Saved me a couple of dollars. Watching the charts now for re-entry into mutual funds. Was going to get back in about a week ago but things just didn't look quite right, plus some market timing rule. Technique may be worth researching for 401k or 457. Any thoughts?
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devilbutt
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opps, it was the beginning of MARCH when I got out of the mutual funds not April. Time sure flies when your having fun. (Took a trip down to Cancun). Lost track of time!
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gatlin
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blueranger - excellent post on the charts. i will continue to follow your post since i'm new to the boarde.

gatlin

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Dannzon
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Very informative post...good stuff..
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Dannzon
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DO you like this RSI theory for all stocks, or only the pennies due to their repetetive cycle patterns....seems non penny stocks can also be more greatly affected by news/pr and other fundamentals. These could negate what the RSI might be showing... What do you think ..?

For example...take AVAN ...

it is at a 52 week low right now of 1.50 ...the RSI says buy as it is down near 30 ...

but....what if this big recent decline and subsequent 52 week low were caused by some sort of bad PR / didn't meet earnings, loss of big contrat etc.... would these negate what the RSI is showing, or do you feel that the RSI indicator is telling enough that the low RSI still means "buy" ??

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Dustoff 1
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Dannzon....the way I read RSI is it take's good and bad news equaly. Example; the rsi shows the oversold posistion when sold off on bad news and shows the over bought posistion on good news..All it is ,, is a indicator.
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