Post by WWJDthrume on Aug 27, 2004 21:52:41 GMT -5
I recently predicted that there would be a Bull Market in penny stocks occurring soon.
Today (Friday) was what I was talking about. There were many high flyers on high volume and large number of trades. Most had reasonable spreads. When looking at a stock that goes up 100%; if it is from .0001 to .0002 it isn't worth mentioning. It could be a daily game that the MM's play and win. Many stocks are like that. But many runners today looked pretty good. These listed below did very well:
USWE closed up 400% AUTQ closed up 416% after being much higher.
IDGN closed up 90% TNGO closed up 176%
EWMD closed up 100% GGLF closed up 166%
This is in a day. If you caught AUTQ at the low and high of the day you could add another 400% return or better. There are penty of professional stock pickers who would brag if they got an annual return with these numbers. There were too many up 40% or more to even mention. PHOX was up 100% today. Even though it ran today you have to be careful with that one and many others. Specifically not to buy these at the top ever. It would make you a stuckholder instead of a stockholder. I am not picking on PHOX but I was a stuckholder in that previously, and passed on purchasing it today.
These kinds of large returns are why I like to trade penny stocks. I bought TNGO this week at .011 as it started to run and then it traced back. Today on news it took off. I had regretted paying .011 for TNGO when it went back to .009 but I thought it would recover. It recovered nicely. I sold at .019 and missed the end of day rally. It hit an interday high of .025 and closed at .0237. I confess
I am still a little skittish from the terrible late Spring and Summer market in penny stocks.
Since April the naked shorting in the OTCBB and Pink markets has been so bad that I just about stopped trading. The new laws will be kicking in shortly (9/6/2004) and the situation is already improving. So keep your eyes and ears open. If you know a likely mover on good news let's post them here. My personal favorites are sub pennies that aren't needlessly diluted and have a real product or service. They are more likely to run than the tired stocks that have sat at .001-.0014 for 2 years. Usually they are so diluted if you laid the shares out end to end they could circle the earth and touch the sun. Those stocks will occasionally have a good run. It is OK to buy into those and you can make a great profit. But for those kinds of stocks take the money and run. I wouldn't even want a 'free share' postion in some of them.
Last year I had a few stocks I bought around .0025 and they ran to .045. I sold a couple of thousand shares and held the rest as 'Free shares' I sold some as my profit melted down to .02 and then .01 and now one is at .0064 and the other is around .0033. It is a learning experience trading penny stocks. It is always wise to take a free share position if you like the stock. But I watched most of my 'free shares' containing my profit wither on the vine this year. So I will be taking more cash off the table on significant runs in the future.
The best ones to keep free shares in are those with a product that appears to be in demand and they can have immediate sales. If they do not need to dilute the stock it may be worth keeping.
I expect that I will get the feel of these stocks again. The playing field will be a little more level in the near future. I need to keep learning about trading like all of us and especially need to learn the technical analysis that Trading for God is teaching in the commentary section here at CT instead of remaining a savant trader of sorts.
The above is my opinion only and not a recommendation to buy or not buy any of these stocks. I hope to talk a little about trading penny stocks and sub penny stocks in the future. Also how to do quality research that will help you better decide what is a good penny stock to buy. There are so many style of trading that can be looked at. What may make a great day trade could be a terrible investment. It is important to know the difference going in. I will save that for another day. Grace and Peace-Debi
Today (Friday) was what I was talking about. There were many high flyers on high volume and large number of trades. Most had reasonable spreads. When looking at a stock that goes up 100%; if it is from .0001 to .0002 it isn't worth mentioning. It could be a daily game that the MM's play and win. Many stocks are like that. But many runners today looked pretty good. These listed below did very well:
USWE closed up 400% AUTQ closed up 416% after being much higher.
IDGN closed up 90% TNGO closed up 176%
EWMD closed up 100% GGLF closed up 166%
This is in a day. If you caught AUTQ at the low and high of the day you could add another 400% return or better. There are penty of professional stock pickers who would brag if they got an annual return with these numbers. There were too many up 40% or more to even mention. PHOX was up 100% today. Even though it ran today you have to be careful with that one and many others. Specifically not to buy these at the top ever. It would make you a stuckholder instead of a stockholder. I am not picking on PHOX but I was a stuckholder in that previously, and passed on purchasing it today.
These kinds of large returns are why I like to trade penny stocks. I bought TNGO this week at .011 as it started to run and then it traced back. Today on news it took off. I had regretted paying .011 for TNGO when it went back to .009 but I thought it would recover. It recovered nicely. I sold at .019 and missed the end of day rally. It hit an interday high of .025 and closed at .0237. I confess
I am still a little skittish from the terrible late Spring and Summer market in penny stocks. Since April the naked shorting in the OTCBB and Pink markets has been so bad that I just about stopped trading. The new laws will be kicking in shortly (9/6/2004) and the situation is already improving. So keep your eyes and ears open. If you know a likely mover on good news let's post them here. My personal favorites are sub pennies that aren't needlessly diluted and have a real product or service. They are more likely to run than the tired stocks that have sat at .001-.0014 for 2 years. Usually they are so diluted if you laid the shares out end to end they could circle the earth and touch the sun. Those stocks will occasionally have a good run. It is OK to buy into those and you can make a great profit. But for those kinds of stocks take the money and run. I wouldn't even want a 'free share' postion in some of them.
Last year I had a few stocks I bought around .0025 and they ran to .045. I sold a couple of thousand shares and held the rest as 'Free shares' I sold some as my profit melted down to .02 and then .01 and now one is at .0064 and the other is around .0033. It is a learning experience trading penny stocks. It is always wise to take a free share position if you like the stock. But I watched most of my 'free shares' containing my profit wither on the vine this year. So I will be taking more cash off the table on significant runs in the future.
The best ones to keep free shares in are those with a product that appears to be in demand and they can have immediate sales. If they do not need to dilute the stock it may be worth keeping.
I expect that I will get the feel of these stocks again. The playing field will be a little more level in the near future. I need to keep learning about trading like all of us and especially need to learn the technical analysis that Trading for God is teaching in the commentary section here at CT instead of remaining a savant trader of sorts.
The above is my opinion only and not a recommendation to buy or not buy any of these stocks. I hope to talk a little about trading penny stocks and sub penny stocks in the future. Also how to do quality research that will help you better decide what is a good penny stock to buy. There are so many style of trading that can be looked at. What may make a great day trade could be a terrible investment. It is important to know the difference going in. I will save that for another day. Grace and Peace-Debi
I am praising God for this article Debi, it was if a light bulb went off in my head. God is teaching me each day.......more and more...... about this business, and today God was using your posting. Over the years God has taught me about so many new things, but even though He has taught me so much in the past.....I had my doubts that I could grasp what is being said here at this website. Faith, as always, is bearing out God's faithfulness to me. Once again, I am reminded that God can equip us to do "anything" that He wants for us to do. My prayer is that He will continue to equip His children.................here at this gathering place.....to understand His purpose, and His will for their lives, and that He will give them......His wisdom.....His knowledge....to do "all" that He wills for them to do.