Penny Stocks

[Kenger]

Hey guys i sorta got a better job then my usual part time job at college and am making quiet a bit more money and am looking into playing around with this option to make some money or bust. Anyone ever do it? I have heard about it when i was in service but never really followed up about it. If you do can u send me a pm or post here some useful sites to get started and read up on it?

 

Any information is greatly appreciated. Thanks

[NOFX]

hey kenger, long time no see..

 

I recently started messing around with the stock market. I looked into penny-stocks and decided to stay clear of putting any substantial amount of money into them.

 

1) check out the volume of the stock(how many shares are being traded per hour) If you have 35,000 shares and only about 1k get traded an hour, it's gonna be kinda hard to sell if they go up a little bit

2) as Im sure you know extremely volatile.

 

I used www.firstrade.com to do my trading, but I just found one that allows for up to 10 free trades per month..

www.zecco.com

[Xterminator]

I personally dont play the stock market but I am buying company stock where I work. It's cheap right now (something like $5.00 a stock), I have it taken off my paycheque bi-weekly, the amounts are so small you dont even notice it. If your company is doing well and you have the option of buying stock, I suggest you do so, It amounts over time.

[YoMamma]

Hey Kenger!

 

Good idea putting money into the market, but I'd stay away from penny stocks. Try investing small amounts of money in larger companies that you are familiar with. Watch the market daily and once you become more comfortable, invest in riskier stocks for greater returns or losses.

[Kenger]

my idea was actually buying and selling the penny stocks more frequently. like probally save a stock a few days see if it raises up. Even say a dollar or two dollars if i buy 50 shares for 5.00. i'll make 100 bucks. I dont know how that all works and was my main question.

 

But also I'm def looking into buying more stable stocks for a retirement type plan, my main one atm is google, i have been watching them and the past two days they have raised 30 dollars per share, just wished i would have had some shares before they had released the information about developing new technology for cell phones. Anyways, Thanks for the input all

[YoMamma]

Even say a dollar or two dollars if i buy 50 shares for 5.00. i'll make 100 bucks. I dont know how that all works and was my main question.

 

Make $100 on $5? That's a 2,000% gain. If you can find stocks with that kind of return, sign me up!

 

Goog is a good buy. It has climbed up almost 600% since it came out in 2004. Heck, just this year alone, it's gone up about 60% even though its over $700 per share. MSFT, on the other hand, has gone up about 20%, even though the price per share for MSFT is only around $35 per share.

Lesson Learned: Stock "price" does not matter too much in determining what's a "low price." Percentage is much more important.

 

Tip: The Dow fell about 360 points today. This might be a good time to buy. You want to buy low and sell high.

Also, keep in mind that most online trading sites charge between $5 - $15 per trade.

Edited November 7, 2007 by YoMamma

[farmerisme]

Be very careful. Stocks as cheap as that are there for a reason. You are far more likely to buy it and watch it lose all the little value it had than see it blow up. You would be better off buying a good stock with a good future for $100 than buy a 1000 shares of a stock at $0.10 each. Trust me on this one.