1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

do we have any penny stock investors here?

Discussion in 'Safety valve' started by darthnip, Jul 25, 2006.

Page 1 of 2
  1. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    i was recently thinking of diving into the world of penny stocks just to play around a bit. i was wondering if we had any investors among us. i suppose it dont even have to be penny stocks, any investing will do. with so much crap on the forums nowadays, maybe a different type of conversation make be a welcome change.


    before anyone decides to come on this thread and be a smacktard, just remember 1 thing...
    I have a ban button and using it is better than sex to me!
     
    darthnip, Jul 25, 2006
    #1
  2. ddp

    ddp Moderator Staff Member

    Joined:
    Oct 15, 2004
    Messages:
    39,167
    Likes Received:
    136
    Trophy Points:
    143
    lost about $2-2500 in penny stocks. don't do it anymore.
     
    ddp, Jul 26, 2006
    #2
  3. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    how long did you play ddp? was it a quick loss? anything you might have done differently (besides not invest in those particular stock lol). i'm not looking to get rich or anything, mainly just something to occupy some time and get to know the market. i figure if i throw $50 or so into something and i can ride it for a while then break even i'll be happy. i guess i'm just bored.
     
    darthnip, Jul 26, 2006
    #3
  4. ddp

    ddp Moderator Staff Member

    Joined:
    Oct 15, 2004
    Messages:
    39,167
    Likes Received:
    136
    Trophy Points:
    143
    about 18months. was spread out in 5 different stocks. if a stockbroker calls you about investing in penny shares & not you to him, stay away.
     
    ddp, Jul 26, 2006
    #4
  5. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    yeah i've done enough research to know that there are no true "free tips" or anything. damn sure wont take a spam call and think it's worth anything. the simple fact is, if a stock is going to take off, they dont need to advertise it or troll for investors. i'll probably end up paying for the $200 newsletter or something from peter leeds (or find someone else who is and sponge off of them).
     
    darthnip, Jul 26, 2006
    #5
  6. LOCOENG

    LOCOENG Moderator Staff Member

    Joined:
    Feb 4, 2005
    Messages:
    10,818
    Likes Received:
    4
    Trophy Points:
    118
    Hey darth, why not just try some free online poker...it's truly addictive.
     
    LOCOENG, Jul 27, 2006
    #6
  7. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    nah i've never really been one for cards, but i do like blackjack. the problem with me and cards is i tend to just keep on playing until i'm broke. the stock market has potential to make some money, and the researching the companies and scouring the news for leads and stuff kinda seems interesting to me. i dont plan on doing any large amount of money at all so even if things go belly up, it isn't going to hurt.
     
    darthnip, Jul 27, 2006
    #7
  8. LOCOENG

    LOCOENG Moderator Staff Member

    Joined:
    Feb 4, 2005
    Messages:
    10,818
    Likes Received:
    4
    Trophy Points:
    118
    I have some stock in BB&T, used to have some in utilities....stick with something stable, you will be better in the long run than trying to dabble with the penny stocks. I wish I had bought stock in NS (the company I work for) a few years back when it was $11 a pop, now it's up around $50 I think.
     
    LOCOENG, Jul 27, 2006
    #8
  9. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    yeah i know what you mean, i'm just not ready to play with big money yet. since i'm doing it more like a hobby, the penny's are fine with me. i doubt i buy more thna $20 of anything at a time, so even if it flops i'll be ok. in todays world it's hard to get a few days worth of entertainment for $20. who knows, if things do go well and i enjoy doing this i might get into bigger stuff later on. i'm not a patient person, so holding something for a long time just doesn't seem like something i would be good at lol.
     
    darthnip, Jul 27, 2006
    #9
  10. LOCOENG

    LOCOENG Moderator Staff Member

    Joined:
    Feb 4, 2005
    Messages:
    10,818
    Likes Received:
    4
    Trophy Points:
    118
    It's a great college fund, that's what my parent's did for me. With what was left over after college, I took half for a down payment on our first house and what was left over I don't plan on touching until my boy is ready to go to college. I also put 9K per year in my 401K, that is where I do my playing because I can pick and choose between stocks, bonds etc., high risk, low risk and everything in between. I just hope I'm don't screw up our retirement. LOL
     
    LOCOENG, Jul 27, 2006
    #10
  11. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    i just have the fear of holding something then having the company tank out. i'd rather play the current market and not go long.
    i was hoping to drum up more investors here and maybe start a stock picking thread, or if anything just throw ideas back and forth. 500,000 minds are better than one.
     
    darthnip, Jul 27, 2006
    #11
  12. LOCOENG

    LOCOENG Moderator Staff Member

    Joined:
    Feb 4, 2005
    Messages:
    10,818
    Likes Received:
    4
    Trophy Points:
    118
    Now there's an idea...count me in.
     
    LOCOENG, Jul 27, 2006
    #12
  13. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    ok...go! :)
    i got a list at home that i'm watching, a few seem to be doing well. i'm at work now so i cant get to them. it seems liek when i go thru the penny stock forums and see what others are hyped about i'm always a few days late. too bad for me becuase some of them have went from starting at $0.02 to $1.15 or so in a short amount of time.
    I think it would be really cool to have a bunch of us researching potential good stocks and making recommendations. thats another reason why i want to play the penny's, as long as you're careful you really aren't going to lose alot of money if the stock goes flat.
     
    darthnip, Jul 27, 2006
    #13
  14. LOCOENG

    LOCOENG Moderator Staff Member

    Joined:
    Feb 4, 2005
    Messages:
    10,818
    Likes Received:
    4
    Trophy Points:
    118
    Where and how do you set up an account to start trading? What site(s) are you getting you information on the said stocks from?
     
    LOCOENG, Jul 28, 2006
    #14
  15. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    there are lots of online brokers like scottrade, ameritrade, etrade, etc. if you want to play where the most penny stocks are you need to make sure your broker deals on the OTC and pinksheet markets. i have an account at sogoinvest.com, which doesn't yet trade on these markets, but soon will. and their online real time trades are only $3 each vs. $7 or higher per trade on the other sites. by the time sogoinvest opens up to the markets that i want (OTC and pinksheets), i should be ready to start playing a bit. there are tons of penny stock forums out there to get info from, but everyone should do their own research on the company's they are thinking of investing it. with penny's there's alot of "pump nad dump" info out there so you need to be careful and do your own reseach. people hit a forum, usually paid by the company to do so, and claim a certain stock will explode soon. people buy in based on this speculation then the people that are already in the compnay can unload their stock as the price goes up just based on this speculation. then the poor saps that didn't do their own research get stuck holding worthless shares. if you want good stock info, "you get what you pay for" as far as info goes. the fact is, a good company will never need to spam or advertise their stock, based on the research people will already know they are on the way up. i'm going to pay for a newsletter from some of the respoected pickers. mainly Peter Leeds is the guy i'm starting to trust as far as picks. his info makes people millions, his newsletter is $200 per year but he's got a 98% accuracy track record. peterleeds.com if you want to check him out.
    there are forums out there that do have good info, and honest investors are really just sharing tips with their fellow investors, but even they encourage anyone to do their own research on the stock and no go by thier recommendations. I have followed quite a few of these and checked into how they did based on a yearly or monthly chart and checked it agains when these people made thier posts. Some were dead on, some were crap. doing that is all part of the needed research IMO.
     
    Last edited: Jul 28, 2006
    darthnip, Jul 28, 2006
    #15
  16. sandt38

    sandt38 Regular member

    Joined:
    Jun 15, 2006
    Messages:
    95
    Likes Received:
    0
    Trophy Points:
    26
    Penny stocks aren't bad if you want to learn, and dabbling where 100% gains are quickly had can be fun, and addicting. However, bear in mind losses can be quick too. As unstable as the market is right now, I would be a bit shy in dealing with smaller stocks. My retirement plans are all fairly agressive, and mostly overseas market players. However, I keep some blue chips still, because I did lose my a$$ not long after the changing of the gaurd. I did very well durring the tech boom of the 90's (Digital Lightwave EXPLODED, and made me very comfortable), but the new millenium has been less then kind. I have scored on some stocks where the companies involved clean up efforts in Iraq, and Katrina... so if you can find some low ballers in the clean up sector, rather then the tech sector it might be worth looking at.
     
    sandt38, Jul 29, 2006
    #16
  17. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    well you sound like just the kind of guy that needs to help us get a thread like this going. i'm totally new to the investing world, but i have been doing tons of reading about it.
     
    Last edited: Jul 30, 2006
    darthnip, Jul 30, 2006
    #17
  18. sandt38

    sandt38 Regular member

    Joined:
    Jun 15, 2006
    Messages:
    95
    Likes Received:
    0
    Trophy Points:
    26
    Anybody who claims to be all knowing in the investment market is full of $hit. I have seen some people who score big once, then claim they know everything. I did pretty well in the 90s, but then again, who didn't? It was hard to screw up when the market was surging so fast and strong. Virtual companies were all the rage, and it was a safe bet. I am no genious, but I have watched trends and can get a rough idea of where things are going. I never offer tips (I do suggest you research rather than taking someone else's word for it), because I don't want to be responsible for someone losing their nestegg.

    I learned, over the last few years, to watch for where growth is in the market... where there is certain to be work. DIGL (now DIGL.OB) skyrocketed in the 90s ( http://finance.yahoo.com/q/bc?s=DIGL.OB&t=my I bought at $18 and sold at over $130) because of the growth in high speed internet, which was obviously a sign of the tech boom. They developed high speed cable, laid it, maintained, and monitored it. Similarly I watched companies that were involved in clean up after natural disasters, as well as keeping a stern eye on companies bidding for war cleanup (I might suggest researching who may be in the running for the clean-up in Lebanon).

    So what you need to do is look for companies who are involved in a sector where work WILL be required. If they are currently required their market value will be high and rarely see significant changes in a positive direction. Look at the 5 year chart for DIGL I provided for proof of that. But if you foresee a service that will be required the gains can be explosive and satisfying.
     
    sandt38, Jul 30, 2006
    #18
  19. darthnip

    darthnip Moderator Staff Member

    Joined:
    Jan 9, 2003
    Messages:
    2,871
    Likes Received:
    1
    Trophy Points:
    68
    seee thats what i mean though, "tips" dont have to be in the form of "buy this stock, it's going ot explode". to me, tips are more like giving good info of any kind. of course anyone would want to do their own research on anything before the dump money into it. far too many "pump and dumps" out there for someone just to take another's word for it.
     
    Last edited: Jul 30, 2006
    darthnip, Jul 30, 2006
    #19
  20. ronnie101

    ronnie101 Regular member

    Joined:
    Jul 9, 2005
    Messages:
    435
    Likes Received:
    0
    Trophy Points:
    26
    you guys want a good stock.. not really penny, but its going to make it huge. its a new oil company which is really doing well... goign to build 12 more wells across canada. SEL-V or SEL (CA) depends which format your quoter grabber uses. Read up on them, some insider info has really helped me out, and apparently its going to go up and up. Enjoy. Throw me some paypal when you strike big.
     
    ronnie101, Aug 1, 2006
    #20
Page 1 of 2

Share This Page