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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Lane Hall-Witt who wrote (8494)	10/12/1998 5:39:00 PM
From: hoffy	Respond to of 25711

Lane: I made some nice money back in the spring on some pennyt stocks too. GLCP, MTEI, NETZ (Now ZULU), EDII, BAAT, TSIG and so on. Ah, there were so many to chose from. Most of these went up 100-500% in a very short time. But they all ran for a few days, not just one afternoon and a gap and then they tank. It was so easy to buy late in the day and have the stock gap open for a 50% gain or more and then watch it run. As soon as it turned you could sell it for a 100% gain or more. Not so these days. The glorious penny stock days are on hold until we get back into a bull rally , and well into it. Not just the start of it. Usually the penny's will rally big time late in a bull market, better known as the silly season. Everyone is so giddy they buy into every story they see come along. I'll wait for these times to trade the pennies again. Their time will come. You just have to be patient. In the meantime play the bigger stocks with better fundamentals.