Amoeba

95gt, stockbrokers dont have time to play around with penny stocks too volatile and risky for their clients.

95gt

Isn't that our point? They are akin to gambling and to tell someone "starting out" to go gamble with their money is pretty retarded in my book.



glad it is working out for you but the odds are certainly not in your favor

Amoeba

I wouldnt call it a gamble like in vegas though, I may not get these huge gains on everyone i invest, but I rarely lose more than 5-10% on them.

Scrib

And how do you know that the person you recommended this "stock" to has the time and knowledge to understand when to hold em' and when to fold em'.


I applaud you for making ends meet rather well for being 18. But it's foolish to assume others can perform as well as you evidently have in the penny game.

Amoeba

Yea I guess so Scrib, maybe not penny stocks, but dont you agree putting $1,000 into a 2% cd is almost useless? At least invest in a stock with dividends of about 5%

Amoeba

Maybe a tax free bond?

Scrib

Yea... Fixed on $1000 is nothing.

But you can certainly put that money into a no-load mutual fund that has tracked 8-10% historically and feel good about it. Much better than a $.03 stock that has been around for 6 months with no remote earnings to speak of.

Scrib

But finding one with a decent return with only investing $1000 would be tough.

Amoeba

im thinking of taking a risk soon and putting some of my money out of penny stocks and into high dividend stocks (15%-20%) we will see how that goes.

Scrib

Penny stocks aren't speculative enough, eh???

Amoeba

yea i know lol, im looking at teloz, see if they can give off another huge dividend

Mike 350Z

I'm sure Charles Schwab got to where he is today with this strategy.

phinthesky

fxtrading......low transaction costs, high leverage.........

amisconception

is 2005 still gonna be ~55% in foreign currency for you?

GreenMonster

That's what I did. Turned 10K into 13K without much risk... took 3 years to do it, but it was better then leaving it in the bank (or in a CD).

Start an IRA with the $1000, or better yet, save up $3k which is the max contribution allowed per year for an IRA...

I wish I would have started my Roth IRA earlier in life...

phinthesky

Yes.

My friend who is doing this with me, has $20K in his account and with a conservative leverage he make about $600 a month in interest.
I use www.Oanda.com.

ViperrepiV

greater return = greater risk, unless you're in arbitrage (and good at what you do)

Amoeba

abreece, did you ever get into mssi, it hit .069 today and closed at .065, I am expecting the next run to be up to .075-.08 intraday but I cant suggest whether u should get in now or not, it will either back down to .049-.055 range in the next week or two, or it will have a string of pr's make this baby run, if they close out the final deal of the acquisition they made with little dillution the stock should run to .09-.10 intraday IMO

Doc.Booty

I've just been sitting and waiting on it. I'm glad i did - it's down to .059 as of this post and has been down further today. I would like to see it sit still for a day or so before i throw money at it.

Amoeba

yes its not bad to sit on it, because it does have the tendency to drop fast, however once it starts running off a quality pr it runs, so dont miss out when a great pr is released and it runs! I think its base is about .05-.055, I dont think we will be seeing the 4's anytime soon

Doc.Booty

That's why i waited - you said it had a tendency to drop fast, and I had noticed it going down.

What's a pr? Press release, i assume?

Amoeba

yea press release, when they release one they have had a pattern of releasing them on mondays, when the press release is decent it usually will go up 20-25% high, and when the press release is very good news it can push up to 100% in a day. But it is very volatile, but also a company with real revenue and government contracts.

Amoeba

abreece, mssi may be good to get into very very soon, their support is in the mid .05 now and they just climbed across .06 with no news today, they just had a letter of intent, once they get that contract and another acquisition detail is clarified i could see a 50-150% increase soon. I may be wrong so do your own DD but take a look

Doc.Booty

Yeah, they seem to be pretty level at the mid .05s to .06.

Where are you getting this news from?

Amoeba

That huge selloff today was cornell capital who finances mssi, they are very tricky.

The news is in the past Pr's they have had many letter of intent to acquire big companies and we all are just waiting on whether they do acquire them and how much dilution is involved in the deals. Check out ragingbull message board too. I dont see this as a daytrading stock anymore, but more of a midterm hold. I do think it will double or more in the upcoming month-months.

Doc.Booty

You really trust the guys on that board?

Amoeba

nope, i dont trust them, they are all pumper/scammers, but they do sometimes give important information

Doc.Booty

Yeah, i was gonna say, they seem to think just about every stock is going to take off at any moment.

BlueCLS6

Contribution limit is up to $4,ooo for 2005