This thread is starting to remind me of
my experience trading a penny stock last
spring--anybody remember Golden Eagle,
the symbol was MINE at the time (note,
that it has apparently changed, and a
real company is using the symbol now).
Truth is, nobody should be trading off these
penny picks, if you do, do it with a small
part of your portfolio, and just for fun.
I remember a morning when I had 20k of gains
in my little Bolivian gold penny last year,
I watched half of that melt away in just an
hour as an order of mine got botched. Crazy,
exciting, but sheer nuttiness, I still made
a nice chunk of change, but you know half of
the trades in that little penny back then
were losing trades.
I do beleive that there are a smattering of
good companies hidden amongst the otc;bb
wreckage--hell, I own a couple--why, that
NTII I've held a year now, and I'll probably
hold most of my shares another year.
But the deck is stacked against making money
in these stocks--maybe some of your pennies
are good companies Jeffrey, I have not followed
the recent subtread and I guess I am mainly
just butting in: But I do have a comment for
anybody new to the thread--this daytrading
penny stuff is pure horseracing for fun, and
nobody should be here thinking they're going
to make money off a daytrade in these.
It is entertainment people, let's lighten
things up! There are many serious threads here
on SI, some good pockets of virtual investment
clubs, and reasoned discussion. I just don't
think "Wire to Wire" is one of those places.
end soapbox mode |
