A couple friends play a little in penny stocks. Not so much that we can get hurt too bad, and the upside potential can be very nice. Sometimes it can be like a roller coaster though, fun ride but a little scary. :yes:

Here's one: UITK. Goes up and down a lot with 30-40% swings. Currently at $.22. I own this stock.

There are a couple more, one in particular has one hundred banger potential within a couple of years.

Anyone else play with the penny stocks?

Mark

I've got a big jug full of pennies!! ha ha ha ha

I've got a big jug full of pennies!! ha ha ha ha

This goes to prove the adage "There's one in every crowd." ha ha ha ha

I would like to, were do you go to get started?

I play in the market, it will keep your intrest.they go up and down,just not the way you want them to. a funny thing ,i played golf with this guy every week .he had a company that was not doing well the stock price .75 per share. he told me do not buy it now,wait it will go lower.
so as a smart man i did not buy it. i did not see him for a year.the stock price is now $27.50 per share.do you know how many chevelles i could have bought with the money i did not make.
as for getting in to the market,just go to ameritrade.com and open an account.
just remember use money that will not efect your life or your cars restoration. and a final note
BUY LOW AND SELL HIGHhttp://www.chevelles.com/forums/images/icons/icon7.gif

I use Etrade two of my buddies use Ameritrade. Just go there and set up an account. You will have to transfer in some money and each site has their own minimum. I am not sure what Etrade is but it is probably either $1000 or $2000. Etrade has a decent help center by phone if you want or on line. They can walk you through the process and help teach you how to trade, research etc. Depending on how many trades you make you can get your cost per trade down to about $5.00. I think Ameritrade is $10.00 per trade. Use the research buttons, talk to other people, listen to market news etc.

Once you see what's going on you can place buy and sell orders that will buy or sell automatically based on limits you set. For instance I bought the above stock at $.19 per share. I have a sell order in to sell 2500 shares at $.35 so when the stock hits $.35 Etrade will automatically find a buyer to sell 2500 shares to at that price for a cool 84% profit minus cost of trade and 15% capital gains tax. Total net gains for this is trade is$330. Then set a new buy order back at $.25 or something like that and sell again at $.35, repeat until rich (or poor) :D. Keep in mind there is risk. The only sure thing is death and taxes.

When you start talking to friends and acquaintences about this you will get to know people who trade and will trade stock tips and techniques with them. You will also find yourself on line doing some reading and research. Beware, this can be amlost as addictive as Team Chevelle :yes:. The good news is if you can figure out how to make some money at it, this will pay for car parts, or hopefully a new car.

can you buy Google stock through these companies?
Jon

If you set up your account with Ameritrade or Fidelity or similar as an IRA account you can avoid the capital gains tax and all the issues of annual tax accounting. Of coarse you won't be able to access your profits until you're eligible (old enough) to withdraw from an IRA account without penalty.

can you buy Google stock through these companies?
Jon

Yes. You can buy any stock, mutual funds etc. It is a brokerage account just like if you went to your local Smith Barney guy but you are your own broker and you are not paying his commission. Plus the conventional brokerage houses will typically not do penny stocks.

Mark

Need to be careful, lots of people juicing penny and lower priced stocks.

BUY LOW AND SELL HIGHhttp://www.chevelles.com/forums/images/icons/icon7.gif

Buy high...sell higher is my motto.

low stocks are proven losers.

I prefer and recommend small caps for the novice and large caps for everyone else. I do play micro caps but warn against the sub-pennies.

I do it because I enjoy the analytical process involved with something so potentially volatile. To be able to outsmart the Market Makers, greedy executives manipulating the stocks and everything else that goes on under it all.
To the rookies out there..don't even think about playing the micros or even small caps for that matter. If you think that you can get lucky, you may as well play the lottery because that is all it will be..luck. If you are really serious and you have an analytical side that needs to be satisfied, take a few years and just study it.

On a final note, stay away from the message boards. There is soooo much insidious activity there, it will only corrupt your analytical process.
One web site in particular is named "Raging Bull"..I couldn't think of a better name for it.