Anyone out there trade penny stocks? I've been doing some research and came across a newsletter called Penny Stock Egghead that seems to have a good track record. Just wondering if anyone on here has tried it or has suggestions. I ask on this forum because it seems that we have some pretty smart folks here. Any advice would be appreciated!
Thinking of trying my hand at Penny Stocks.
- Thread starter nwjones18
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Originally Posted By: nwjones18
Anyone out there trade penny stocks? I've been doing some research and came across a newsletter called Penny Stock Egghead that seems to have a good track record. Just wondering if anyone on here has tried it or has suggestions. I ask on this forum because it seems that we have some pretty smart folks here. Any advice would be appreciated!
I would be interested in this as well. Can anyone run down how it works start to finish, how you "get in," and what all is involved end-to-end?
Anyone out there trade penny stocks? I've been doing some research and came across a newsletter called Penny Stock Egghead that seems to have a good track record. Just wondering if anyone on here has tried it or has suggestions. I ask on this forum because it seems that we have some pretty smart folks here. Any advice would be appreciated!
I would be interested in this as well. Can anyone run down how it works start to finish, how you "get in," and what all is involved end-to-end?
Stay away from penny stocks.The pros will take you to the cleaners.
FYI
-I used to be a stock broker in my younger days.
Buy gold and silver coins.
FYI
-I used to be a stock broker in my younger days.
Buy gold and silver coins.
Broker is often an adjective, not a noun.
Good luck. The terms dumb money, and pump and dump come to mind. The Pros are usually the ones doing the pumping and dumping, and taking the dumb money.
Originally Posted By: demarpaint
Good luck. The terms dumb money, and pump and dump come to mind. The Pros are usually the ones doing the pumping and dumping, and taking the dumb money.
You are right my friend.Stockbrokers use an illegal trading procedure called "Naked short selling"which is really selling stocks that they don't have in order to depress the market.They can then buy the stocks for next to nothing.
Good luck. The terms dumb money, and pump and dump come to mind. The Pros are usually the ones doing the pumping and dumping, and taking the dumb money.
You are right my friend.Stockbrokers use an illegal trading procedure called "Naked short selling"which is really selling stocks that they don't have in order to depress the market.They can then buy the stocks for next to nothing.
Originally Posted By: spock1
You are right my friend.Stockbrokers use an illegal trading procedure called "Naked short selling"which is really selling stocks that they don't have in order to depress the market.They can then buy the stocks for next to nothing.
This is currently going on at a broker you know? Turn him in!
Really it doesn't have that much to do with this thread.
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes their are exceptions, but not the rule.
You are right my friend.Stockbrokers use an illegal trading procedure called "Naked short selling"which is really selling stocks that they don't have in order to depress the market.They can then buy the stocks for next to nothing.
This is currently going on at a broker you know? Turn him in!
Really it doesn't have that much to do with this thread.
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes their are exceptions, but not the rule.
Originally Posted By: Pablo
Originally Posted By: spock1
You are right my friend.Stockbrokers use an illegal trading procedure called "Naked short selling"which is really selling stocks that they don't have in order to depress the market.They can then buy the stocks for next to nothing.
This is currently going on at a broker you know? Turn him in!
Really it doesn't have that much to do with this thread.
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes their are exceptions, but not the rule.
This thread is about buying Penny Stocks.The same shenanigans
are used in the trading and selling of penny stocks-more so.
Originally Posted By: spock1
You are right my friend.Stockbrokers use an illegal trading procedure called "Naked short selling"which is really selling stocks that they don't have in order to depress the market.They can then buy the stocks for next to nothing.
This is currently going on at a broker you know? Turn him in!
Really it doesn't have that much to do with this thread.
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes their are exceptions, but not the rule.
This thread is about buying Penny Stocks.The same shenanigans
are used in the trading and selling of penny stocks-more so.
Originally Posted By: spock1
Originally Posted By: Pablo
Originally Posted By: spock1
You are right my friend.Stockbrokers use an illegal trading procedure called "Naked short selling"which is really selling stocks that they don't have in order to depress the market.They can then buy the stocks for next to nothing.
This is currently going on at a broker you know? Turn him in!
Really it doesn't have that much to do with this thread.
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes their are exceptions, but not the rule.
This thread is about buying Penny Stocks.The same shenanigans
are used in the trading and selling of penny stocks-more so.
There are a few brokers playing the game I'm sure. I've read about it more than once. Typically it's message boards that do the pumping, most traders now trade w/o a broker. Certainly no crime in getting burnt on a message board. After all it usually starts off with a rumor, or a tip coming from someone on another keyboard, or a team of people doing the pumping. I'd stay clear of the penny stocks. For every story of someone making millions in penny stocks there's thousands of chumps that financed it. The problem is the chumps tend to be real quiet about it.
Originally Posted By: Pablo
Originally Posted By: spock1
You are right my friend.Stockbrokers use an illegal trading procedure called "Naked short selling"which is really selling stocks that they don't have in order to depress the market.They can then buy the stocks for next to nothing.
This is currently going on at a broker you know? Turn him in!
Really it doesn't have that much to do with this thread.
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes their are exceptions, but not the rule.
This thread is about buying Penny Stocks.The same shenanigans
are used in the trading and selling of penny stocks-more so.
There are a few brokers playing the game I'm sure. I've read about it more than once. Typically it's message boards that do the pumping, most traders now trade w/o a broker. Certainly no crime in getting burnt on a message board. After all it usually starts off with a rumor, or a tip coming from someone on another keyboard, or a team of people doing the pumping. I'd stay clear of the penny stocks. For every story of someone making millions in penny stocks there's thousands of chumps that financed it. The problem is the chumps tend to be real quiet about it.
Originally Posted By: Pablo
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes their are exceptions, but not the rule.
Best advice you will ever get....
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes their are exceptions, but not the rule.
Best advice you will ever get....
Last edited:
Originally Posted By: spock1
This thread is about buying Penny Stocks.The same shenanigans
are used in the trading and selling of penny stocks-more so.
True enough, but you write as if EVERY broker is breaking the law and every transaction is a rip off. Just as if every gold transaction is a rip-off as some people think in the last few months who bought at the peaks and bail out.
As for "naked" short selling, that is very much illegal.
And standard short selling, I have never received a satisfactory answer as to why the uptick rule was removed.
This thread is about buying Penny Stocks.The same shenanigans
are used in the trading and selling of penny stocks-more so.
True enough, but you write as if EVERY broker is breaking the law and every transaction is a rip off. Just as if every gold transaction is a rip-off as some people think in the last few months who bought at the peaks and bail out.
As for "naked" short selling, that is very much illegal.
And standard short selling, I have never received a satisfactory answer as to why the uptick rule was removed.
Originally Posted By: Bluestream
Originally Posted By: Pablo
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes there are exceptions, but not the rule.
Best advice you will ever get....
Thanks - except I meant to write THERE not their
Originally Posted By: Pablo
Here's some advice: Money making stocks are rarely below $8-10 share. Sometimes there are exceptions, but not the rule.
Best advice you will ever get....
Thanks - except I meant to write THERE not their
Originally Posted By: Pablo
I have never received a satisfactory answer as to why the uptick rule was removed.
Me either. I was told it provided more liquidity. I guess it depends on who you ask. One thing for sure, removing it generates more commission $$ for the brokerage houses.
I have never received a satisfactory answer as to why the uptick rule was removed.
Me either. I was told it provided more liquidity. I guess it depends on who you ask. One thing for sure, removing it generates more commission $$ for the brokerage houses.
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