Decent Daytrading stocks

ZAF said: "I was wondering which companies do you guys daytrade on? I am looking for companies with good daily stable/predictable variability. Penny stocks are ok by me. I've looked at BIKO charts and they seem very interesting. I am not looking into long term investments in this thread. My aim is to buy it and sell it on the same day if not on the next day. Thanx"

Harry said: "[QUOTE=ZAF]I was wondering which companies do you guys daytrade on? I am looking for companies with good daily stable/predictable variability. Penny stocks are ok by me. I've looked at BIKO charts and they seem very interesting. I am not looking into long term investments in this thread. My aim is to buy it and sell it on the same day if not on the next day. Thanx[/QUOTE] I'll no doubt get some negative feedback for my sobering response. Day trading IS gambling. Many brag about their accomplishments, but keep stifled on their losses. BUT...as far as day trading goes, I know one guy who watches the most active list in India...he gets there buy clicking the India Yahoo browser on the bottom of the YAHOO page. As the trend of a stock begins to rise he buys and then trys to sell before they peak. Everyday he makes money I can't shut him up...when he loses he won't talk to me. ::cool: I used to play Lucent's ups and downs but the down started to dominate and my money was stagnant while I saw much higher priced stocks that were a good opportunites go by. I got slaughtered. The stock future did not math it's recent history. I am for a type of multidimensional day-trading though, but this does not necessarily mean trade everyday...insteadwatch every day in stocks you have faith in...did your homework. When I lost the faith I lost money...when kept the faith I made money... ...And example PUDA Coal (PUDC). I purchaced it a 4.50 with the assumption of fast growth. Well guess what? It dopped down and lingered. Knowing what a booming economy China has "the faith" kicked in and I purchased more...still nothing. This week they issued a guidance report and the stock shot up to 5.20...I'm finally in the green with it. At 5.8 I sell at market is a stop limit doesn't kick in first at 6. I'm like the mafia guy at the race track. I like good calculations or a sure thing. Throwing my chips on an entitiy that can go down just as easy as it goes up is too risky and costly. I've learned that in the trading school of hard knocks. For new investor I recommend safe BEST-OF-BREED stocks. You WILL make money...the only initial info you need is the BEST time to buy. Once you start getting that right learn the market influences for the best time to sell. Don't rush, many good best-of-breed stocks have slow but certain browth. Growth will start slow buy will grow somwhat exponentially. Once you get some CASH under your belt you can also make more aggressive trading transactions on small-caps (not penny) that will serve you well. Self control is the biggest problem. I bought in and out of a ton of stocks. I made peanuts and made Scottrade a small fortune $7 at a time. 95% of the stocks I picked I could have made out well with just HOLDING."

ZAF said: "Thank you for your response. I completely understand what you are saying. And I am with you on putting the cash in bigger/worthy companies. Never the less, I like some risk. I was thinking about putting a small amount of my potfollio in penny companies, or any other company for that matter, on daytrading. Just to get more spice of life. Ofcourse I will try to make profit as much as I can and I will try to go in and out as fast as possible but without risking too much money so if I lose I don't regret it so much."

thezster said: "I play only blue chips - you cannot make $$ with pennies daytrading... as a general rule. I buy 500 - 3000 shares at a time and play the same stocks over and over for the past 7 years.. BUD - LOW- HD - CLX - FRO - MAGS - RCL............. Average 20 - 25% per year - after commissions - and before taxes... though this year is exceptional - I'm at 23% YTD - with lots of year left to play....."

ZAF said: "thezster, why is it a general rule that you cannot make $$ from pennies daytrading? They have a decent variability?"

wildmandan32 said: "i'll just chime in briefly that i too am completely against penny stocks...take your money light it on fire same thing in my opinion 99.9% of the time. myself i do not think we live in an age where you can buy and hold any more myself i think that is just as foolish as jumping into trading without proper knowledge....my advice to get you started would be to research a group of stocks and try to identify trading patterns, once you think you have done that....try to purchase the stocks you have qualified on a pullback and enter those trades with a plan, at what price point will you sell the stock if your trade does not go as planned, at what price point will you sell part or all of your stock if your trade goes as planned...then stick with your plan....simple as that, this is not a difficult game to play, the difficulty is in developing your system and having the discipline to stick with your plan."

thezster said: "[QUOTE=ZAF]thezster, why is it a general rule that you cannot make $$ from pennies daytrading? They have a decent variability?[/QUOTE] They may have variability - but it is not a stable variability nor have any sort of viable trends to follow."

ZAF said: "What is your thoughts about BIKO's chart?"

Harry said: "[QUOTE=ZAF]What is your thoughts about BIKO's chart?[/QUOTE] [url]http://finance.yahoo.com/q/is?s=biko.ob[/url] From FCC [url]http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0001108890-06-000166&Type=HTML[/url] [/quote] If BICO Fails To Raise Additional Financing We May Not Be Able To Fund Our Ongoing Operations And Implement Our Business Plan. The Company requires additional capital to support even minimal ongoing operations. Should the Company not be able to raise capital as required, the Company may need to cease operations entirely. Any additional financing may involve dilution to the Company's then-existing shareholders. [/quote] The bottom line...the financials are poor. I agree, burning your money is better...at least it puts off warmth."

ZAF said: "thanx....."