Stanky's Penny Thread

[Pauli Wallnuts]

make a quick $239.

made more than that with 3hands @the barracuda club last nite

Bet you didn't do it within 5 minutes though.

your right, it was about 4mins only 1other person on the table

[hardboiled]

stick with the poker pw, it's a far better game.

A couple of facts:

1. Penny stocks are shit. No matter what you call them. Bullboards, pink sheets, whatever.

They are very expensive. And no, I'm not talking about total cost. It's expensive because of risk and liquidity.

1. Risk first, because valuations on this shit is mainly based upon rumor, emotion, greed, and hucksters who 'pump and dump' them. Decent, quality business based upon an actual cash flow have access to capital through many means before listing them through a 3rd rate funding mechanism (penny charts). So, you get mostly bottom feeders lurking around the margins trying to play up flyers, or self-interested management rolling a low rent ponzi to help out their bonus every year.

Quality businesses don't need to go penny for financing.

So, while it's true the overall 'investment' might not be alot of money, it's really very expensive given the overall level of risk you bring into your holdings. Chasing 20 to catch one isn't investing. It's gambling.

2. Liquidity: try and get a quote or a tight buy/sell spread on these things, and you'll realize that you and two other suckers are long, with a tough time getting out.

This isn't the case for all, but your cost (or price) of these shit stocks is higher than you know.

I apologize to SD for calling it red/black before. That would imply a 50/50 chance of something positive happening. The odds are way against you, far more than that.

Investing in penny stocks isn't hip, insightful, or professional. It's just dumb, and you'll get your money taken.

Invest in reputable companies with stable earnings histories and quality management. Stay on the listed exchanges, and buy companies that you like or whose products and services you believe in.

The 'cost' will be far lower than pennies. If you don't have the time, or aren't too sure, go see a professional. Gamble with your gambling money, not your savings.

Caveat emptor.

[gixxer]

i agree hardboiled,,,a lot less of a gamble playing poker fuck i love that game

[Stanky Danky]

To each their own. I fully understand pennyland is full of shit companies, but that's why you trade pennies and don't invest in them. Trading is way different than investing. I'm just looking to cash in on a little short term momentum nothing more nothing less. It's easy to avoid the liquidity problem if you only trade pennies that are currently hot and have lots of trading action. To say your chances are less than 50/50 is complete bullshit. It all depends on how dedicated to the game you are and how good your strategy is. Go to the casino and play a game where the cards fall randomly if you want, I'll stick to being a dedicated trader.

[hardboiled]

fair enough, to each their own.

[Pauli Wallnuts]

stick with the poker pw, it's a far better game

i used 2play poker before every kid with an id started playing, now i only play blackjack, only game where youve actually got better odds than the house oh & craps have a small advantage aswell, but few casinos in london have craps tables,
@stanky, good luck 2you, if i was a bit more clued up on these kind of things id probably have a dabble aswell, but knowing my stupid brain id lose the lot 1st day

[Cisco]

Ok have not researched penny stocks but its different from the stock market ? i watch shares and know a bit about it my family has shares in a few companies and i always watch the money markets , i like a spin o roullette too

[Stanky Danky]

Ok have not researched penny stocks but its different from the stock market ?

Pennies trade quite a bit differently than big board stocks. They're known to have huge spikes and big drops and need to be approached with much greater caution. Here's a link to a nice(literally too nice) stock blog that covers big boards and pennies.

http://www.toonicestocks.com/

[Cisco]

Cheers Stanky

[chichi]

30 years ago I was a clerk on the Chicago Options Exchange and traded options for 2 years.....came out even. Course I was paid for being a runner/clerk. We freaking bet on EVERYTHING. The cloakroom manager was a booky. We even paid bums we knew to go to the track for us.

As I look back I can't believe I did that because it's such a risky market and would never do it now. Funny I was fearless.

[cattales1960]

30 years ago I was a clerk on the Chicago Options Exchange and traded options for 2 years.....came out even. Course I was paid for being a runner/clerk. We freaking bet on EVERYTHING. The cloakroom manager was a booky. We even paid bums we knew to go to the track for us.

As I look back I can't believe I did that because it's such a risky market and would never do it now. Funny I was fearless.

we were all fearless 30 years ago. lol

[spidergawd]

30 years ago I was a clerk on the Chicago Options Exchange and traded options for 2 years.....came out even. Course I was paid for being a runner/clerk. We freaking bet on EVERYTHING. The cloakroom manager was a booky. We even paid bums we knew to go to the track for us.

As I look back I can't believe I did that because it's such a risky market and would never do it now. Funny I was fearless.

we were all fearless 30 years ago. lol

Well said Cat

[Stanky Danky]

Decided not to pull the trigger this morning on CMGR and missed out on a potential $3,000+ trade. Waited and made a much weaker trade on LBSR that netted me $80. Can't complain though had a pretty nice week making over $1,500.

[Stanky Danky]

Lift off time for Cannabis Science Inc.

http://stockcharts.com/h-sc/ui?s=cbis

[Stanky Danky]

Looks like Cannabis Medical Solutions Inc. wants to go to the moon too.

http://stockcharts.com/h-sc/ui?s=cmsi