quote:Originally posted by neona: Tex, Are you gonna be up all night...lol I've got tons of silly questions - hope you don't get TOO annoyed by them Can I ask you something? You don't have to answer if you think it's a stupid question. How do you guys find the companies that may be worth something? Where do you look for those companies? Is there a website that has all the listings of penny stocks? I only know of the PinkSheets and the OTC Board. Again, if this is an overly dumb question just ignore it....lol
basically, given a new day, "we" (as a community) watch news/PR releases (before the bell), monitor watchlists from the day(s) before, check in with favorite chatrooms, monitor various threads/posters, rub rabbit feet together, burn candles, constant eye on streamers, monitor PRs coming out during the day; run scans, rub rabbit foot again; run charts, IM other traders, go outside and yell; run back, grab a sandwich from the hands of a child, throwing quarters over our shoulder back to said child; run more scans; check back with chatrooms; re-boot, check home message board, check other likely boards; rebuild streamer; cuss at monitors, throw rabbit feet out the window...immediately regret doing so.... think about retrieving rabbit feet from dog... blow that off.... Repeat all, with new wrinkles, as opportunity presents....
After hours? start scans for next day...and rebuild watchlists...
prety simple, really..
beats having a steady paycheck, lol
Holy Sh*t that's the funniest post ever
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quote: Stop trying to sell at the top. Mythical in perportions to be able to do that with any accuracy.
Find a stock prime for a bounce or run. Don't plan on holding beyond two weeks. Get a rise and then sell at the first sign of weakness unless you are really damn sure about your hunch that it ain't done yet.
This is what I have been trying to do since starting this thread. It is the reason I have my tag line stating "small gains at a time". However, lately, I haven't even been able to get small gains. I have the worst timing of anyone on these boards, I think! I've been setting my sells for a modest 10-20% gain, but the last few stocks I've entered don't even get past 2% before falling.
My saving grace has been FRPT. I'm considering selling off all my pennies and taking the losses (My unrealized losses are currently about 9,000) and putting the proceeds into FRPT. I have made some gains in some of my trading, so my actual losses right now are in the 2,500 range. I could still make that up with the right play.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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posted
Jo4321, a strategy that might work is just playing off the news. That's mainly what I do. I read the PR's before opening bell and watch news on microcaptrade all day. If there's a hot PR, it's easy to get in and out the same day with a nice gain. Sometimes in just 1 hr or less.
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quote: Stop trying to sell at the top. Mythical in perportions to be able to do that with any accuracy.
Find a stock prime for a bounce or run. Don't plan on holding beyond two weeks. Get a rise and then sell at the first sign of weakness unless you are really damn sure about your hunch that it ain't done yet.
This is what I have been trying to do since starting this thread. It is the reason I have my tag line stating "small gains at a time". However, lately, I haven't even been able to get small gains. I have the worst timing of anyone on these boards, I think! I've been setting my sells for a modest 10-20% gain, but the last few stocks I've entered don't even get past 2% before falling.
My saving grace has been FRPT. I'm considering selling off all my pennies and taking the losses (My unrealized losses are currently about 9,000) and putting the proceeds into FRPT. I have made some gains in some of my trading, so my actual losses right now are in the 2,500 range. I could still make that up with the right play.
Jo
ahhhh Jo... nevermind lol jk :::: shakes head :::: I'm sure you know what I was going to say... I wonder how much $$ you would of saved if you had taken my original advice...
-------------------- Let the world change you... And you can change the world.
And I thought that Civil Engineering is a dirty business... lol... Hope I could became so good at trading that I would quit my job and do trading for a living The work hours are awesome- 6:30am-1:00pm (Pacific Time)... I'll be done with trading till 1:00pm and have the rest of the day for myself (which would be spend in reserching companies)... It will make it possible for me to live anywhere in the World I want since the trading is done online... This is my dream. I hope it will come true.
You can make more of a living trading big board stocks then penny stocks.... stocks in the $20 to $60 range on the NYSE, NASDAQ and AMEX... you can make $$ in stocks under $20 or over $60 but the most $$ is made in the 20-60 range...
-------------------- Let the world change you... And you can change the world.
quote:Originally posted by Machiavelli: .. I wonder how much $$ you would of saved if you had taken my original advice...
I'm assuming you mean, this advice, Mach?
quote: Originally posted by Machiavelli
Here's some advice... cut down on your penny portfolio... way too big... concentrate more on the big board stocks... you will turn your portfolio around more likely that way... your holding 22 pennies and only 5 big boards... why not try it the other way around? ... 22 pennies is waaayyyy too much... cut your losses on the majority of them and start looking for big boards to swing/position trade....
I have been taking that advice. But it is a slow process. As I mentioned, some of my losses are at a point that they are not even worth selling for the losses, as they are down below $100.00. However, I have consolidated some postions. And I have purchased a few NASDAQ/NYSE stocks. Made a decent swing trade with NGAS (bought at 8.40 sold at 9.60). But I made big mistake purchasing CHCI, a housing stock (WHAT WAS I THINKING) and bought some more JLG hoping for a good swing trade on that one when the yearly earnings are announced September 25.
I do appreciate your advice, and I am trying to get out of the pennies. I almost feel trapped in them right now.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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Thanks to a couple big board stocks (GT which went up over 3% today and EBAY which almost went up 2%), combined with a couple of OTC's and Pennies that went up in minute increments, plus the sale of NGAS while it was up at $9.60, I have gone from being down 8.9% Friday to being down 7.6% today. Finally a little progress in the right direction again.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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quote:Originally posted by neona: Ace of Spades, Thank you! Is this program helpful for picking up winning stocks? Is this even possible? Just curious.
This is the best platform for Penny Stocks and is used by almost all penny traders. The filter is awesome, and can quickly sort throught pennies with your own criteria, and they will be displayed in real-time. You should try the free trial.You can see from opening bell what stocks are gapping and running. Also when PR's come out, you can see how the stock is responding to the news. L2's are Great.
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I've almost subscribed for the free trial this morning prior to the bell, but then I've changed my mind because there are many programs out there that claim to be picking the winning Level II stocks which made it sound doubtful. On the other hand, It won't cost me if I try it, right... So, I'll go ahead and give it a try. Thanks a lot, guys!
-------------------- New to the game... but I'm a quick learner.
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quote:Originally posted by neona: Ace of Spades & Tex,
I've almost subscribed for the free trial this morning prior to the bell, but then I've changed my mind because there are many programs out there that claim to be picking the winning Level II stocks which made it sound doubtful. On the other hand, It won't cost me if I try it, right... So, I'll go ahead and give it a try. Thanks a lot, guys!
That's true, You can get L2's anywhere. The main reason for Microcaptrade platform is for the realtime PR's, and the filter to track only penny stocks in real-time. If you had this platform you could have seen ACTC's PR come out in real time, and could have gotten in at the begging.
[ August 28, 2006, 22:05: Message edited by: Ace of Spades ]
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quote:Originally posted by neona: Tex, That's what the advertisement say. And that's why I said I doubt it
If you're looking for more confidence in microcaptrade's platform, MM's use their professional version, the [Highly-specialized application built for the "Bullys and Pinks" trading desks of Institutional Market Maker firms. Provides the essential algorithms they need to meet their stock list management requirements, enabling them to be more efficient, profitable and responsive to their market making needs.]
posted
way to go jo. I really would like to start playing some big boards especially since it is work time again and I do not have time to monitor right now. Looks like you are making some steady progress. Dropped about 600 today. started with 8600 and am at about 6850. Everything was red today ather than nmcx. good luck everyone
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It'd be nice if just one day the majority of my holdings would go up.
As it is now, when one or two of my holdings do well, there's always a slew of others that counteract this.
My four biggest holdings (dollarwise) are EBAY, GT, FRPT and JLG. I had good gains again with EBAY and Goodyear, but FRPT and JLG went down. Most of my pennies were also down, especially ACTC. But for the most part, not a bad day overall.
The best thing I did today was to avoid buying anything new in an attempt to "make up my losses". That is kind of how I got into ACTC, and see how THAT worked out.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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posted
Jo thanks for the update. Keep them coming. I know what you mean about the half up and half down. I am looking int some of your big board holdings as I am looking to shift some after I am out of bugs and nsmg (nlst). I sold ecci for a gain that is not worth mentioning and got into bugs. I am unable to flip these storm stocks easily because I am busy teaching highschool kids about the ills of drinking and gambling. Got to admit I can't wait to get home and crack a brew and see how xkem did. I know pennyland is full of BS but I have heard from what I believe to be a reliable source that the audit on nmcx will be out in the next week for what that may be worth. It is up again today. good luck
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posted
Don't count on Ebay too much Jo.. they recently hiked their fee's to sellers who run stores on Ebay and thousands of Powersellers and non Powersellers have jumped ship to rival sites... which will mean less sales for ebay and my guess their 3rd Quarter earnings report in Oct will not be pretty... also a prominent analyst recently downgraded Ebay's stock... If you made profits on Ebay so far perhaps you should sell half your holdings or all of them and seek a more stable stock/company... but thats just my advice... you can check on Ebay's Store forums about the 1,000's that are closing up shop and setting up elsewhere... or find articles on the internet about it... just giving you a head's up... Ebay is going down...
-------------------- Let the world change you... And you can change the world.
Unfortunately, I know that stuff about Ebay. Not only that, but their partnership with Google ads has the potential to take buyers to off-ebay sites for purchasing and that is making their powersellers even more perturbed! Can't say that I blame 'em.
It's a gloomy outlook for EBAY, I know. But, EBAY is one that bought when I first started trading and watched it fall like a stone. I am considering cutting my losses with it at the levels it is now, (I bought at *GASP* $37.29) But since it is one of my larger holdings, it's gonna hurt.
I haven't done much better with big board stocks than with pennies really. The only truly good big board play I had was when I bought Apple at $60 and sold at $70.00. I made a couple hundred on Great Wolf Lodge (WOLF) and it has gone up since then and also some profits with Jones Soda, which I rebought and it is now down again. I took a $200.00 loss on PETCO and then days later is was bought out and went up $8.00 or so! When I bought my first JLG stock it was at a 52-week high. Now it is nearly at its 52 week low. I truly have the reverse midas touch!!
BTW, JLG is probably the only stock I hold that I'd recommend someone get into at these levels. Their yearly earnings report is due out 9/25 and I'm fairly certain it will be a good one.
32, can't you set GTC sells for your stocks before you go to school? I've taken folks' suggestion to set sells for 10-20% immediately after buying. I substitute in the schools and so I also am not always home in the day. (and they block sites like these). At least this way, if they go up, I get a small profit, and I don't even have to be home to do it. (Unfortunately, I have only had one stock hit my sell point in 2 weeks and that was NGAS).
How's Neona doing? The first one of us who gets on the green side needs to buy the other two a drink! Preferably a RSHN Ginsing cola, LOL (yes, I'm in that POS, too!)
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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posted
cut your losses with Ebay... it's not going to be pretty with them after that fee hike... as for big boards... You bought Ebay on a downtrend... it went from $59 to about $29 a share in the last two years. when you bought it at $39 it was going downhill... I think the problem with your trading style is you try go buy the stocks in dips and trying to predict their turnarounds.. when you should just go with the Trend and buy it on the way up... Perhaps you should look at charts that are longer then what you normally look at.. 1 year or longer to get a idea of what the trend is for any particular stock... i'll give you some advice of what industries to research stocks (check out their Dow Jones indexes for these industries for the last 2 or 3 months to see what a uptrend looks like):
1.Telecommunications
2. Tobacco
3. Automobiles
4. Non Durable Household products
5. Oil & Gas
6. Health care providers
7. Toys
8. Pharmaceuticals
9. Drug Retailers
10. Software
-------------------- Let the world change you... And you can change the world.
posted
Understood about buying on the uptrend. However, how do you determine whether the uptrend will continue? Look at the chart for JLG http://finance.yahoo.com/q/bc?s=JLG&t=2y&l=on&z=m&q=l&c= I purchased in what I THOUGHT was an uptrend. It had gone up for the entire year prior to my purchasing it. I guess the forward split that happenned about a month after I first purchased it may have caused some of the downturn. Cause otherwise, I don't know what the heck happenned with this stock. Their third quarter earnings were higher than they've ever had. They have contracts with the army. I couldn't find anything to warrant such a huge drop in price.
Newbie question: How do I looke up the charts for industries you mentioned?
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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posted
When did you buy JLG? .. I hope you didn't decide to buy it around Mid May... because that is when the 20 Day moving average started it's downtrend and crossed below the 40 day MA... as for Q3 earnings... try not to emphasis too much on FA and concentrate more on TA... did you put a stop/loss order as soon as you entered the trade? something tells me you didnt... one little trick that MM's do is to buy on rumor 2 weeks before earnings.. sometimes 3 weeks.. then they sell just before the earnings reports come out and then they sell short when the earnings come out even if the news is very positive... making the price drop... seen it a few times when a company is strong and getting stronger but the MM's play their games... also another explanation is that insiders knew something you didn't... but anyways Moving averages are always a good indicator for me.... when the 20 day starts to go down and cross under the 40 and 60 day that is a indication of a beginning downtrend and you should of been cautious... but you also should of put a stop/loss as soon as you entered the trade just in case these little surprises sprung up ... don't get married to a stock... and don't let your emotions (Fear & Greed) make your decisions.... Plan your trade, and trade your plan... let your stop/loss orders make the decision for you because a stop/loss order is emotionless...
Newbie answer to Newbie question: go to www.bigcharts.com and click on "Industries" on top...
-------------------- Let the world change you... And you can change the world.
Yep, I bought at late April and again in mid-May. Didn't do a stop loss. I see now that that would have been a good idea in this case. Other times, I've done stop-losses (in other stocks), it seems they dip down to hit my stop loss point and then go back up. I've had that happen with Xide and Great Wolf Lodge. But with those, at least my stop-loss hit on the Green side, anyhow. I just didn't get as much profit because of the large difference in PPS in one day.
Do you know of any visual that can help me learn more about Moving averages? Would this kind of stuff be in the books you recommended earlier in this thread.
quote:one little trick that MM's do is to buy on rumor 2 weeks before earnings.. sometimes 3 weeks.. then they sell just before the earnings reports come out and then they sell short when the earnings come out even if the news is very positive... making the price drop... seen it a few times when a company is strong and getting stronger but the MM's play their games...
That seems to be exactly what happenned. I guess I'm in for another drop then in September? I do have a love/hate relationship with this stock, as my dh did quite well with it in his 401K over the last year, so I thought it would be good to get into.
Thanks for all your help. I'm going to need to take some time to learn all this the right way. I know now that I jumped in without really knowing what I am doing. So much to learn.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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posted
Okay, I'm trying to see what you mean here. I took FPRS in the automotive industry and overlayed the 20 day MA on a 1-year chart.
So, what you are saying is when the line representing the PPS goes over the line representing the 20-day MA and stays there for a few days, it is an uptrend. So in this case the uptrend started in late July.
Is that correct?
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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