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The Penny Arcade

  • #1
  • First Post: May 17, 2015 2:04pm May 17, 2015 2:04pm
This is going to be a thread about penny stock trading. No hard/fast rules here, but I'd like to limit the discussion to trading penny stocks and even very cheap stocks, say <$5/share, more or less. I am mostly an options trader. I used to trade stocks and penny stocks, but I am pretty rusty in that regard. So, ergo, this thread: if there are active penny stock traders here, you are welcome to discuss your game, share trades, etc. I'll get it started with a couple ideas I have had today.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #2
  • May 17, 2015 2:09pm May 17, 2015 2:09pm
MJNA reported good sales data last week, there's a full ER coming 5/20 (too bad they couldn't ER on 4/20 ) I am looking for a reversal > $0.15. 1,000 shares'll cost ya $80+ on Monday.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #3
  • May 17, 2015 2:21pm May 17, 2015 2:21pm
I have blown some money on long-dated NBG calls in the past. Now the stock is cheap enough to squirrel away. I know, Greece, right? For all I know they will be on the drachma or the ruble this time next year. But maybe not. Stock has traded at $6 within the last couple years. I could see $2+ very quickly if/when there's a referendum and Syriza gets the boot and Greece's home in the EMU is reconfirmed. Lotsa if's and but's for candy & nuts. Cheap stocks are cheap for a reason, so trade accordingly. Prolly better odds than playing the lotto, though.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #4
  • May 17, 2015 2:37pm May 17, 2015 2:37pm
How do you find cheap stocks to trade? (Not necessarily a rhetorical question.) Share your resources if you have any.

I use FinViz screener, you can sort thru the 1,000's of stocks on the major exchanges by price, volume, market cap, etc. Then I will look them over on the Yahoo Finance site. Read the message board entries. Often there are active penny stock traders on the boards who will be pumping their wares....(bewares!)

http://www.finviz.com/screener.ashx?...o10000&o=price
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5
  • May 17, 2015 2:59pm May 17, 2015 2:59pm
sooo, what are some equity sectors that have been beat down recently? Those might be good areas to look for those winning lotto tickets. Commodities come to mind - particularly gold and oil. The pundits have been quacking loudly alate about gold's coming resurgence (how do they keep quacking for so long?) I am looking at cheap miners....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6
  • May 17, 2015 3:02pm May 17, 2015 3:02pm
Quoting The Fool
This is going to be a thread about penny stock trading. No hard/fast rules here, but I'd like to limit the discussion to trading penny stocks and even very cheap stocks, say <$5/share, more or less. I am mostly an options trader. I used to trade stocks and penny stocks, but I am pretty rusty in that regard. So, ergo, this thread: if there are active penny stock traders here, you are welcome to discuss your game, share trades, etc. I'll get it started with a couple ideas I have had today.
check there market cap out too, over 50 million is a decent start for penny stocks
  • #7
  • May 17, 2015 3:04pm May 17, 2015 3:04pm
Quoting The Fool
I am looking at cheap miners....
aaah, here's one we missed - a double in a month, need to find another nugget like GSS
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #8
  • May 17, 2015 3:06pm May 17, 2015 3:06pm
Quoting Cecil Gee
{quote} check there market cap out too, over 50 million is a decent start for penny stocks
hey Cecil - yes, look for good volume, good market cap, look for quality that is poised for a rebound. Be on the lookout for names that are heading into bankruptcy and/or have legal problems, avoid those....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #9
  • May 17, 2015 4:03pm May 17, 2015 4:03pm
Quoting The Fool
need to find another nugget like GSS
look for quality in the ruins, lots of debris there, but gold could stage a comeback. Check out AUY,...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10
  • May 17, 2015 4:15pm May 17, 2015 4:15pm
the solar stocks will rebound strongly when oil does the same. I have traded YGE before, surprised to see it so low. But maybe not willing to risk $1.70/share, I might find a very cheap long dated (Jan '17) debit spread instead, the below not gonna fill for a credit at the mid, obviously, but maybe $0.10...?
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #11
  • May 17, 2015 5:35pm May 17, 2015 5:35pm
Hi the Fool

What broker do you use to trade penny stocks??

Regards

Dennis
  • #12
  • May 17, 2015 7:18pm May 17, 2015 7:18pm
Hi Dennis,

That is an interesting question that leads to the question, are some brokers better than others for trading pennies? Do some brokers have more to short than others, if that's the approach? I'd like to hear from traders who know.... Personally, I just trade all stocks out of IRA accounts at ETrade and TDAmeritrade.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13
  • May 17, 2015 9:46pm May 17, 2015 9:46pm
heading for the pink sheets, might be shares to short with lotsa dumping in recent days. I would be let us say concerned if I had a trading account here.
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #14
  • May 18, 2015 12:28am May 18, 2015 12:28am
Thanks The Fool

I have been trading forex for awhile but very new to stocks...hope to get some tips on ur thread.

Regards

Dennis
  • #15
  • May 18, 2015 3:48pm May 18, 2015 3:48pm
Quoting The Fool
MJNA reported good sales data last week, there's a full ER coming 5/20 (too bad they couldn't ER on 4/20 ) I am looking for a reversal > $0.15. 1,000 shares'll cost ya $80+ on Monday.
up $0.02 on >40mio shares traded, but I did not get in. I only trade very speculative positions when my bread&butter trades are doing well. Not the case in the last week.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16
  • May 18, 2015 3:49pm May 18, 2015 3:49pm
Quoting The Fool
the solar stocks will rebound strongly when oil does the same. I have traded YGE before, surprised to see it so low.
stay away from YGE, bad news out today
"If The Fool persists in his Folly he will become wise." - William Blake
  • #17
  • May 22, 2015 4:46am May 22, 2015 4:46am
Very good trade, i'll have a look at penny stocks, i'm looking to invest in some. Very low price for a maximum profits

Or lets wait for another crisis and buy all shares for 1k%
COT: The precious data ignored
  • #18
  • May 22, 2015 11:01am May 22, 2015 11:01am
ugly platform but looks like an interesting instrument to trade
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #19
  • May 22, 2015 1:20pm May 22, 2015 1:20pm
sorry, ya'll - I started the thread & then got too busy & kinda let it drop, but I will be back. I am always snooping around in the penny/cheap stocks and will put up any ideas I see that have merit. It's a real minefield, though - gotta be very careful....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #20
  • Edited 10:26am May 24, 2015 10:06am | Edited 10:26am
all kinds of cheap stocks in the pm sectors
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"If The Fool persists in his Folly he will become wise." - William Blake
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