alright I said I'd never play again

wildmandan32 said: "but Im going crazy watching a few that I wish I would have purchased but I swore off penny stocks along time ago and am going to start dabbling again....tattoo sucker across my forehead ;) anyhow as I have mentioned b4 I use USAA to make my trades but for this type of trade the commisions would KILL me for example to place a trade for 500,000 shares the commision would be $2,503!!! Hard to make a profit paying those commisions :eek: Let me say they are very competitive with my daily transactions (non penny stocks) and I am very happy with them, but where should I open a account just for this purpose. thanks for your advice, or maybe better yet I should stick with my rule and avoid them, lol"

thezster said: "I use E-Trade for my brokerage - USAA for my insurance needs (love them for that). Power E-trade level traders (150+ trades/quarter) - get unlimited shares of any stock, any price - for $7.99. No hidden fees.... I believe that medium level traders also get around $9.99 - unlimited shares - but check their website for accuracy on that suggestion... Best suggestion is "avoid the pennies altogether. You're not going to risk that much, right? So the potential reward is actually minimal (a couple grand at best)..... I, like you, decided to play one (1).... penny due to some of the info on this forum... so far - I'm "up" about 50%... but the investment amount doesn't really justify the trouble...."

HappyHarry said: "Do you set stops on the pennies, Zster?"

thezster said: "No stops on pennies. As volatile as they are, I would risk closing out a position by mistake during a heavy swing day. Besides... I only put $$ in pennies that I can easily lose and not be mad at myself about..."

wildmandan32 said: "thanks for the input I will look into it, I agree if I've learned anything from my past I would stay away from the pennies but hey sometimes you need to pick the scab off old wounds and bleeeed a little."

HappyHarry said: "There's plenty of pennies that will make you bleed :)"

thezster said: "[QUOTE=HappyHarry]Do you set stops on the pennies, Zster?[/QUOTE] I might add that E-Trade does not allow trailing stops on penney stocks - and stops must be at least $0.05 under the current trading price - which precludes true pennies...."

AznHisoka said: "I too don't see the point in playing with penny stocks because it offers no long-term opportunity to get rich. You can only invest a couple of grand in them, and the profits you make off that ain't gonna be spectacular (You're not gonna be able to turn 10K into 100K with it). It'll give you some pocket money at best, and that's it."

PoppinPilz said: "Wow you are wrong. There have been stocks that have returned 600% and others even more up to 1000s of %. 10K at 600% is 60K. 10K at 1000% is 100K. You could make more money and could lose more money in penny stocks."

HappyHarry said: "The big question is "how likely" a stock is to hit big returns. Many of these penny stocks have real nothing companies behind them. No offices, no stores, no sales etc. The chance of hitting big on a company that has no viable business model is not likely. However, you can still make money off the momentum, if you keep your head about you."

Dan.FIFA said: "But essentially some pennie stocks behave like other stocks, they rise because of good news and fall because of bad news (in most cases) Also, because trading them is usually very short term you can make a lot more profit in a year than stocking ur money in a large company for the same period? Agreed?"

thezster said: "[QUOTE=PoppinPilz]Wow you are wrong. There have been stocks that have returned 600% and others even more up to 1000s of %. 10K at 600% is 60K. 10K at 1000% is 100K. You could make more money and could lose more money in penny stocks.[/QUOTE] True, true... however - very, very few people are willing to put 10K into a penny. And, even fewer (much fewer) get lucky enough to have the % increases in that one equity to hit it big. I honestly believe your chances are as good, if not better - at the tables in Vegas. But - that's just me.... I'll piddle along with my 25 - 35% returns per year - and be happy as a pig in slop......... :eek: And. when you strike it big - I'll say "I knew him back when"..."

thezster said: "[QUOTE=Dan.FIFA]But essentially some pennie stocks behave like other stocks, they rise because of good news and fall because of bad news (in most cases) Also, because trading them is usually very short term you can make a lot more profit in a year than stocking ur money in a large company for the same period? Agreed?[/QUOTE] Can?? Could?? woulda/coulda/shoulda.......... I make a nice living playing large caps day in/day out........ and never worry about losing the farm......... Large caps have their advantages - especially when you have a lot to risk. Granted - pennies have their place - and I'll dump a few thou into one from time to time..... but only for the entertainment value of it.......... I, for one, believe I do better than most penny players - over the long run....."

PoppinPilz said: "[QUOTE=thezster]True, true... however - very, very few people are willing to put 10K into a penny. And, even fewer (much fewer) get lucky enough to have the % increases in that one equity to hit it big. I honestly believe your chances are as good, if not better - at the tables in Vegas. But - that's just me.... I'll piddle along with my 25 - 35% returns per year - and be happy as a pig in slop......... :eek: And. when you strike it big - I'll say "I knew him back when"...[/QUOTE] Yes I know that few people are going to put 10K in a penny, I was just saying that as a rebuttal from the post I was rebuttaling. It was an example. :cool:"

HappyHarry said: "Let's face it: anything can happen. But do you know anyone personally living in a fancy house who bought it from his penny stock investments?"

thezster said: "[QUOTE=HappyHarry]Let's face it: anything can happen. But do you know anyone personally living in a fancy house who bought it from his penny stock investments?[/QUOTE] Nope... but you can all say you "know me"... and I live in decent digs...... from large caps............. ;)"

jmhollen said: "I personally find that digging a gem out of the pink or penny rock pile is a real kick. Everyone seems to forget the winners like HSLH, 0.10 to 5.00+ and some of the other real rockers - like that Elvis stock who's symbol escapes me at the moment....... If you're not 'too bloody chcken' to spend an evening on a River Boat Casino and blow a grand without going into acute terminal whining-mode, then there are some real opportunities in these [B][I]Mafia Stock Mobsta's Social Club[/I][/B] picks (..OFF TOPIC: listed on the other SI..). The object is to simply sort the whizbanger lemons (..UNQT, QBID, CMKX, MLON, etc..) from the companies that actually have some practical technology or key resources to offer (..ASCO, HISC, PLNI, SPRL, SRGX, etc..). If you understand from your own expertise and experience, what these companies are trying to achieve and the practicalities involved - then plunking down some [I][U]Casino Money[/U][/I] for (n)Decades of shares makes reasonable sense. I'm quite willing to both listen to and then promptly overlook all the sputtering, unsolicited, newbie-savior [I]"..Caveats, Warnings, Pooh-poohs, Snarks, Barks and Bickerings.."[/I] of the uninvolved, because I can certainly afford to do what I'm doing, I have the expertise to sort the [I]ca-ca[/I] from Shinola without someone else's help - and watching a majority of my [I]non-Snob Stock[/I] picks and holdings go up is a real kick in the tushy..!!! [b]PLNI 0.0058 +0.0014 (+31.82%) 0 0 132,662,559[/b] That's [B]+152%+/-[/B] in the last two trading sessions. [i]"....Ain't life grand........................[/i] John :-) ps: As I recall, a lot of people laughed at SPRU when it was 0.0022. It R/S'd at 13.1 to 0.03 (..a 1:1 conversion). It's now 0.10, and major News is expected any day. Works for me........... ps: In the interim, I think I'll continue to let the folks at Fidelity Investments worry about all the high-dollar stuff, and fuss over the gains in my IRA. That Louis Rukeyser and Paul Kangas stuff bores me to freakin' tears. ."

thezster said: "[QUOTE=jmhollen]I personally find that digging a gem out of the pink or penny rock pile is a real kick. Everyone seems to forget the winners like HSLH, 0.10 to 5.00+ and some of the other real rockers - like that Elvis stock who's symbol escapes me at the moment....... If you're not 'too bloody chcken' to spend an evening on a River Boat Casino and blow a grand without going into acute terminal whining-mode, then there are some real opportunities in these [B][I]Mafia Stock Mobsta's Social Club[/I][/B] picks (..OFF TOPIC: listed on the other SI..). The object is to simply sort the whizbanger lemons (..UNQT, QBID, CMKX, MLON, etc..) from the companies that actually have some practical technology or key resources to offer (..ASCO, HISC, PLNI, SPRL, SRGX, etc..). If you understand from your own expertise and experience, what these companies are trying to achieve and the practicalities involved - then plunking down some [I][U]Casino Money[/U][/I] for (n)Decades of shares makes reasonable sense. I'm quite willing to both listen to and then promptly overlook all the sputtering, unsolicited, newbie-savior [I]"..Caveats, Warnings, Pooh-poohs, Snarks, Barks and Bickerings.."[/I] of the uninvolved, because I can certainly afford to do what I'm doing, I have the expertise to sort the [I]ca-ca[/I] from Shinola without someone else's help - and watching a majority of my [I]non-Snob Stock[/I] picks and holdings go up is a real kick in the tushy..!!! .[/QUOTE] Everyone can talk about the meteoric risers of the past. The secret is getting in on them before they take off. It's wonderful that you have the resources to be unafraid to risk a grand or so on a penny play. However, those without those resources should not be catagorized as "too bloody chicken" to play the game. They're playing the game the best they're able with the resources they've got. A grand to you might be like a "C-note (or less)" to others. You're correct about the object of the game. On the other hand, it's not a "simple matter" to separate the wheat from the chaffe... it takes experience and expertise to do so. Again - it's great you're able to do so with ease - but many others are still learning the craft. As far as the "sputtering, unsolicited, newbie-savior [I]"..Caveats, Warnings, Pooh-poohs, Snarks, Barks and Bickerings" is concerned......... we do that, recognizing that many new investors rely heavily on what they read here. Most of us want to make sure they thoroughly understand the risks involved in the game. I for one, would love to see you use that "expertise" to educate others rather than try to make them feel smaller than you."

HappyHarry said: "Millions of small investors have been slaughtered in penny stocks. The whole field is [B]rife with corruption on nearly every level[/B] and [I]internet forum posters are the ultimate outsiders[/I]. Caveat Emptor."

thezster said: "Well said..... I knew you were good for something :D"

HappyHarry said: "[QUOTE=thezster]Well said..... I knew you were good for something :D[/QUOTE] I'm the guy in the movie who keeps warning the main characters before they meet their untimely demise :)"