posted
What does flipping stocks mean? What are some good penny stocks that are good to flip that cost .001 to .003?
Posts: 14 | Registered: Nov 2005
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quote:Originally posted by roycar71: What does flipping stocks mean? What are some good penny stocks that are good to flip that cost .001 to .003?
If it was that easy everyone would be doing it.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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quote:Buy XYZ at .01, sell XYZ at.02, buy XYZ at .015 and sell at a higher amount Buy XYZ at .01, sell XYZ at.02, buy XYZ at .015 and sell at a higher amount...
The idea is to gain back your original investment or to increase the number of shares that you own...
Goodluck finding one that will be a constant... ...
10 is it wise to flip occasionally to get a lower price even at a loss? Example, you bought 100000 shares of WXYZ at .0035, but the price has dropped to 0.0020. Any advantage to selling at 0.0020 and rebuying at 0.0020?
-------------------- "What we have here is a failure to communicate". Posts: 226 | From: TX | Registered: Jun 2006
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posted
selling at .002 and then rebuying at the same price? That won't help you.
If you see the support for your stock crumbling and you think it is headed down sell.
Watch it and if you really want to get back in when it has developed a new bottom. Personally if a stock doesn't act like I think it should I get out and move on...if it is a stock I really like I'll keep it on radar for a while but it doesn't make sense to me to jump right back into a stock if you aren't sure what it is going to do.
BF
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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posted
Tbor... to sell and buy it right back at the same PPS? Not sure that would be worth anything...you also have to consider the commission fees... So ...No I see no benefit in doing this...
What you might be thinking is when people say they are "averaging down"... they will hold their original 10000 shares at .0035 that they bought...and then they decide to go ahead and buy more of the same stock at .002 to add to their position...maybe another 10000...giving them a total of 20000 shares with an average PPS of .00275...and then wait for the "run"...
Hope that helps...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
Tbor...Ya know after thinking about your question...if you are selling out....and using your funds to make some quick gains else where...and then buying back in at the same price...that would make sence and be "worth it"..IMO... sorry for the after thought....
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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quote:Buy XYZ at .01, sell XYZ at.02, buy XYZ at .015 and sell at a higher amount Buy XYZ at .01, sell XYZ at.02, buy XYZ at .015 and sell at a higher amount...
The idea is to gain back your original investment or to increase the number of shares that you own...
Goodluck finding one that will be a constant... ...
10 is it wise to flip occasionally to get a lower price even at a loss? Example, you bought 100000 shares of WXYZ at .0035, but the price has dropped to 0.0020. Any advantage to selling at 0.0020 and rebuying at 0.0020?
You have the right mindset but however you will run into what I did. Its called a "WASH". This is not good. What a WASH is: Its where you had bought a stock/fund/etc at a price...the stock drops...you sell it so you don't lose more money....but then you decide to buy back in after it has dropped some more since its a a bargin price. Now its considered a WASH. Reason is: you took a loss then sold to avoid losing more $$$ and then you bought shares at a lower price then you sold. The bad thing about a WASH is now you can't claim those losses on your taxes. To Avoid a WASH....sell when your losing money and wait "30" days before buying back in. They don't give you a tax break if you lose money because of a WASH....but they will tax you if your WASH gains $$$ when you sell it. See why WASH sucks.
So on that note...you have to play multiple stocks....not just one.
Posts: 2367 | From: Detroit | Registered: Mar 2005
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posted
Your broker will have the information. I got burned on it last year and was pretty pissed off. Just look on your broker's site and type in WASH as a key word under definitions.
Posts: 2367 | From: Detroit | Registered: Mar 2005
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posted
Thanks greenman. That's the best I could do from a google search, but it doesn't cover the many uses of "eom". For instance, of few of just today's uses from discussion boards:
1) "Right...takes that amount of time to settle. eom"
2) "I agree...did you read what I was responding to? eom"
3) "Chart looks good here Looking for news by eom" (ok, this one works)
4) "stop it...really? eom"
5) "you can also call your broker and snap!.eom"
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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posted
It depends on what forum you're using. For instance, on "I H. U. B" the messages are listed with the first few lines of the post. So if the message is short like. "Yea good call at .05." Then there is no reason to open the post since you've already read all of it. So people will put eom, end of message, at the end of the post. It shows up on the main forum and prevents people from wasting time going to a message they've already completely read.
I guess people just get in the habit and it translates over to allstocks where its not necessary. Thats about it. Matt
Posts: 1504 | Registered: Sep 2004
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