quote:Originally posted by Grynder: no different than putting yer $$ in a slot machine.....
at least casinos give free drinks : )
DOn't forget the women!!!
Seriously day trade pennies using the MACD lines.. you will come out on top as long as you have some basic dd on the comp.
Posts: 193 | Registered: Dec 2004
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Nice post KTrain! Some people get emotionally attached to a penny stock. I believe you can make big money with it, I have, I just need a break from it for a few months.
Set a goal folks, take your profits, and move on to another.
I had someone ask me once if they should sell a stock that they were up about 50% on in 1 day and I told them of course you should and dont look back. They didn't, and the stock dropped past his buy in price and he ended up selling for a big loss. $10k loss! Take your profits even at 20%!
Learn to daytrade. Ok, I'm done.
-------------------- Charts are like artwork, it's the same painting to everyone but each person see's something different. Posts: 3026 | Registered: Apr 2004
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This is also great for some bad news hits and a run off is going on like FMDAY Yesterday as you can see the entry and exit points for a dead cat bounce. Let me know if you want grafix of that too.
GLTA
[ February 10, 2005, 18:36: Message edited by: boised ]
Posts: 193 | Registered: Dec 2004
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boised, I am a 100% believer in charts, it's how I made my money in 2004, Yes even in pennys. That's one hell of a chart. Wish they all were like that. lol
I use the bollinger bands to tell me whats happening. Need to look more into the MACD.
Am I still here?
-------------------- Charts are like artwork, it's the same painting to everyone but each person see's something different. Posts: 3026 | Registered: Apr 2004
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1BigTip, I totally agree with you. Yes there are scams out there and yes a lot of these pennies are run out of some guys basement with really no net worth but it doesn't mean you can't make a little money. You are correct in saying "take your profits and move onto another" even if the profit is only 10% and you'll pay Uncle Sam 28% of that. Example: if you had $1000 and traded a penny and made $100, it's still $100 you didn't have before right? To me that looks like free money for reading a few web pages and clicking a few times with your mouse. Tell me if I'm off base here but I don't think I am. I have no problem making a few of trades for a few bucks here and there because at the end of the day if I'm up $2000, it's $2000 I didn't have before I started. I'm not hoping for the huge fish, a bunch of small ones will still feed my family. Get in, get out, don't look back, say thanks for the profits and take yor wife or girlfriend to dinner. You might not get the world overnight but if you work hard enough at it and do your research, you may just get it in 10 years. Patience is a virtue! Regards, ECP
Posts: 184 | From: Pembroke Pines FL USA | Registered: Nov 2003
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Use quotetracker my friend all the tools you need at the touch of a button. Its time for us work a day slobs to take back the market from scammers. Most of these pennies are scams and I would never hold I would rather take small wins with small gains as I will come out on top much faster. Remember the key to the MACD is volume also.
In interfaces directly with my ameritrade account so I can trade using quotetracker instead of needing a ton of buggy/slow Internet explorer windows opened. Level 2 is right there too, as well as newsfeeds, daily charts, historical charts.
quote:Originally posted by lilpennypincher: She's around....Just check what's hot or runnin' and she's on it. LOL
quote:Originally posted by qnique: Speaking of being away for awhile, whatever happen to Diana(reality I think was her allstocks name)?
Hey Lil, tell her to come back to Q land! I'm curious to know what her thoughts are on our beloved network these days!
Posts: 798 | From: New Jersey | Registered: Jan 2005
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I use it. Nice charts! L2 and everything you need to be up and running. It even works when Ameritrade is down.
quote:Originally posted by boised: Use quotetracker my friend all the tools you need at the touch of a button. Its time for us work a day slobs to take back the market from scammers. Most of these pennies are scams and I would never hold I would rather take small wins with small gains as I will come out on top much faster. Remember the key to the MACD is volume also.
In interfaces directly with my ameritrade account so I can trade using quotetracker instead of needing a ton of buggy/slow Internet explorer windows opened. Level 2 is right there too, as well as newsfeeds, daily charts, historical charts.
quote:Originally posted by glassman: part of the problem is that people don't want to sell the shares of real co's that they do have...the MM's are afraid to get themselves caught too short, so since the stock does not trade freely, nobody will "play" it...the traders end up trading crap and the good stuff just sits....
You're right! And that includes a stock you menyioned not long ago that I also like. It's got alot of real potential but falle in the catagory you just mentioned. I continue to keep my eye on PJTG but will wait until momentum is there. I'ld like to catch it going up & them sell enough that what I hold as a core will never cause me concern because it would be paid for. Any company that has a solid working relationship with MSFT & has revenues is likely not a scam.
Maybe I'm foolish but I'm still holding a couple where I've done exactly that. I'm not finished with pennies but I'm going back to momentum investment. It's always worked for me before.
Posts: 4363 | From: waldorf,maryland,USA | Registered: Mar 2004
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quote:Originally posted by glassman: part of the problem is that people don't want to sell the shares of real co's that they do have...the MM's are afraid to get themselves caught too short, so since the stock does not trade freely, nobody will "play" it...the traders end up trading crap and the good stuff just sits....
You're right! And that includes a stock you menyioned not long ago that I also like. It's got alot of real potential but falle in the catagory you just mentioned. I continue to keep my eye on PJTG but will wait until momentum is there. I'ld like to catch it going up & them sell enough that what I hold as a core will never cause me concern because it would be paid for. Any company that has a solid working relationship with MSFT & has revenues is likely not a scam.
Maybe I'm foolish but I'm still holding a couple where I've done exactly that. I'm not finished with pennies but I'm going back to momentum investment. It's always worked for me before.
A good ol MOMO plays ... MACD is perfect for such plays as volume will be high for a true momo play.
Posts: 193 | Registered: Dec 2004
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-------------------- Amazing how much time we spend looking for the truth but never spend the time to get to the point. Posts: 1164 | From: KANSAS CITY | Registered: Aug 2003
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LOL- Gordon Geko was a ficticious character in a movie. I bet he didn't play pinks!
quote:Originally posted by Namoper150: Wahhhhhhhhhh... I lost money playing the pinks..........wahhhhhhhh.... reverse splits, dilution, scams ..........wahhhhhhhhhhhhhh
"You win some, you lose some, but you keep on fighting." - Gordon Gecko, Wall Street, 1987
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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quote:Originally posted by vclimber: Thanks Boised that was a cool chart.
Download and setup quotetracker and watch some stocks tommorrow... you'll be amazed at how the entry/exit points show up in the MACD line.... as long as there is volume and movement... if the stock flatlines all day then MACD won't help much.
Avoid boilenger bands... all it does is show the split that can be seen on Level 2's. I learned the hard (costly) way with TASR way back.
Posts: 193 | Registered: Dec 2004
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-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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i've been selling of all my pennies ones by one. Today I got ripped off when I sold my itdj. Put a market order for it and it was sold at .00002. Four phuckin zeros. This is the kind of bullsheet thatI'm tired of.
Posts: 215 | From: new york | Registered: Dec 2004
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compound, I didn't think a stock could trade below .0001?? I would contact your broker on that one...
Anyway, NEVER put a market order on a penny stock. Always a limit order. I tried a stop limit with a penny once using Etrade, and it wouldn't take....said the stop had to be .05 below current price...
GL
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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Sure they do. The MM's play in 5th digit. They may sell a stock to your broker say for .00038 and your broker sell to you at .0004 and makes a little prifit. Also try and sell some of these stock at .0001 on limit and not go through? if you sell at market it may sell at .00007. Most brokers software will not display 5th digit sells though. It is actually how some of these free brokers make money.
quote:Originally posted by Marty: compound, I didn't think a stock could trade below .0001?? I would contact your broker on that one...
Anyway, NEVER put a market order on a penny stock. Always a limit order. I tried a stop limit with a penny once using Etrade, and it wouldn't take....said the stop had to be .05 below current price...
GL
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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I have to say I've been trying to time my exit from these pennies also. The runs seem to disappear so fast lately. Considering energy and water related companies under $5.
dz
Posts: 1431 | From: Boulder, CO | Registered: Oct 2003
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Thanks for answering that Ric.... One more, so what is the absolute lowest number a stock may trade at? (Other than 0 of course). Thanks...
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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interesting.....thanks for that Ric...certainly enlightening....GL
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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might also explain the millions of shares of CMKX that transfer and show as .0001 - .0002 for the trades range...thanks...
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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Well actually cmkx is a good example. Every now and again you will see bid at .0000 and ask at .0001. well the bid isn't actually 0 its in the 5th digit but most every streamer only show 4th so its displayed as .0000
If you can buy any subpenny for .0001 the MM's got it for less. MM's make money on the spread so they will never sell you a share if they can't buy it cheaper.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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yea, now that definately makes sense....it's a good topic and something to be shared on these micros....VNTN was a good example the other day that had a bid of 0000 and ask of .012...0043 60 day MA.(I think)...now it makes some sense...I've seen others too, and didn't quite understand what was happening....I think I'll only play at .001 and above....leaves some flexibility...BTW, maybe you want to share some of that insight in a new topic? I think alot would appreciate it....I know I do ..thanks again Ric....
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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BTW, I'm researching some of the "Dirty Tricks" and practices with OTCBB stocks for further insight. Here's one that was kinda' interesting: http://www.taylorstock.com/OTCBB2.html
I'm compiling a list of such topics, and hope to produce a "summary" of the info found, in a readable fashion. I'm certainly learning alot from the research. Do's and dont's, TA signals, for various investing techniques, MM signals, Blues, Mids, smallcaps, micros, etc....I'll post my findings when completed....I've got the "bug" for learning now, since pennies are so different GL
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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