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Fanatik · 08-10-2008, 01:06 PM

Haha what a comment, Gaulkin.
No I'm not a pump and dump scammer. Even if I were, simply posting those stocks on this forum would hardly put forth the type of movement required to pump a stock. I was merely stating what I'd invested in. If I said I invested in Google or Apple, would you still be saying that? No.

Just because I invest in pennies, you assume I pump and dump. Not every investor that gives his stock picks, is a pump/dump scam artist. I do, however, play the peak/valley game, and it can get volatile. You better check yourself before making such accusations. I never told anyone to purchase those stocks. I said to do your research and make a decision you're comfortable with.

Taking your accusation - I'd say you're pumping oil on here, just to dump it later. How ridiculous does that sound?

You said 'you're playing craps' if you're playing pennies. I gave my viewpoint on how I play the game. Hardly pumping/dumping. Again - you might want to read what you write before you hit that reply button.

Fanatik · 08-10-2008, 01:07 PM

oh, and for those learning - paper trading is a fun way to learn/experiment -- Stock Market Game is a great resource. Of course, I don't want to pump any traffic to that site, so I better watch out how I 'recommend' things from now on, eh?

sonnyrizo · 08-10-2008, 03:18 PM

Gaulkin, it's not that I favor penny stocks over dollar stocks; it's just that I realize dollar stocks are more for the "big players." For someone with little to start with, penny stocks seem ideal, though, of course, there is a lot of risk involved. I intend on reducing risk by only putting very little money in it (money that I can financially afford to lose). I probably see penny stocks as an opportunity to learn more about the market than as a way to financial salvation.

Fanatik, do you know what resources are a great place to learn about penny stocks? Could you recommend:

1. A message board/forum that is heavily visited by penny stock traders where I can learn the lingo, strategies, etc. I would like to be "around" other penny stock traders to get an idea of what I am getting myself into.

2. A website with lots of reliable introductory information (for example, Entrepreneur.com is a great place for someone interested in starting a business; what is the penny stock equivalent?).

3. How about a book?

Thank you very much.

Fanatik · 08-10-2008, 03:42 PM

In one of my previous posts, I recommended Stock Market Game -- I also PMed that to the original thread poster. I love using that resource, because you can play the "stock market game"; essentially paper trading, which is like using fake money and investing it into stocks. I still use that to this day... it's nice to see how your 'fake' money plays out.

The only caveat I'd say with using that resource - is invest the 'fake' money like you would your REAL money. No use in investing $10,000 in fake money if you don't have that. Sure, it's nice to invest $10k of fake money into Google and see the $15+ fluctuation, but you gain little insight as to how your real investment would turn out.

As for penny stock forums, I dont frequent any. I just do my own research (Yahoo, Google, etc) and go from there. Again - doing your own research on pennies will get you far. It's jumping into them on a whim that'll get you taken for a ride.

Understanding the differences between BB, pink sheets, etc is vital. Google does it for me

I have my portfolio on Google for easy viewing from computers that won't access my normal portfolio.

Gaulkin · 08-10-2008, 08:50 PM

Why waste your time learning how to invest in penny stocks? When you want to start investing in real stocks your going to have to learn everything all over again because its totally different. Dont bother with penny stocks just learn on dollar stocks because it takes 1-2 years to actually get good at trading.

sonnyrizo · 08-16-2008, 05:09 PM

I am looking into mutual funds. At the very most, I can invest only a few hundred dollars, making choices very slim. Also, I am only interested in stock funds, making choices even slimmer.

My prospects aren't very good, but this all I am willing to do.

Gaulkin · 08-16-2008, 05:33 PM

Most mutual funds have an initial investment of over a few hundred dollars, CGMFX has a minimum of $2500 for the first time.

pboychuk · 08-20-2008, 12:25 PM

So, it seems everything i read says, invest in an index while learning stocks. So, I am wondering, do you buy a mutual fund the same way you would purchase a stock? I want to start learning how to do this myself so I will probably sign up with an online company, My stocks are currently under a broker, is there awayway to ditch the broker and just transfer my goods to an online account?

Also, please correct me before i make a mistake, why are so called penny stocks bad, as it seems very appealing to this fledgling.

Gaulkin · 08-20-2008, 01:25 PM

Depends on which fund you want, not all online brokers offer every fund. For example i started day trading with scottrade but then i want to move money into CGMFX. Scottrade doesnt offer that fund so i had to open a Td Ameritrade account so i could purchase shares of that fund. Mutual funds are purchased the same way normal stocks are except they take longer to receive and cost more so make sure you buy alot of shares and not a few at a time to lower your costs. When you find a fund you like just go to finance.google.com and type it in, close to the bottom there will be a list of online and off line brokers that offer the fund.

Just call your broker and tell them to close your account and send you a check.

As for penny stocks, they are bad because there just like going to a casino. When you go to a slot machine it tells you the name of the machine and what u can win and thats about it. In a penny stock there are no financials so you cannot invest in them all you are doing is gambling. People get lucky with penny stocks and they like them because you can buy alot of shares for basically nothing.

Fanatik · 08-20-2008, 04:21 PM

Gaulkin, you're misleading people in regards to penny stocks and it's not appropriate. Playing pennies is not 'gambling' if you simply do your homework. If you request an investor packet from the company you're interested in investing in (and I highly recommend doing that), they will supply you with adequate information so you can make an informed decision.

Sure, you cannot find financials, etc at a whim like most larger companies, but you can get them if you just request them from the company. If I see a penny stock I like, I research the company intensely, looking into their past press releases, the market they are in, the norm of their competitors, etc. If it looks like they have a high probability of being successful, I invest. If not - I move on.

Penny stocks are not the 'devil' of the stock market. If that were the case - no one would invest in them. Do your homework and you'll find your way.

Gaulkin · 08-20-2008, 08:18 PM

Quote:

Originally Posted by Fanatik

Gaulkin, you're misleading people in regards to penny stocks and it's not appropriate. Playing pennies is not 'gambling' if you simply do your homework. If you request an investor packet from the company you're interested in investing in (and I highly recommend doing that), they will supply you with adequate information so you can make an informed decision.

Sure, you cannot find financials, etc at a whim like most larger companies, but you can get them if you just request them from the company. If I see a penny stock I like, I research the company intensely, looking into their past press releases, the market they are in, the norm of their competitors, etc. If it looks like they have a high probability of being successful, I invest. If not - I move on.

Penny stocks are not the 'devil' of the stock market. If that were the case - no one would invest in them. Do your homework and you'll find your way.

To slow, you need information faster then a packet if not you'll just get burned.