Super Penny Trading on ET right here: SIRI, CHTR and the rest

Discussion in 'Chit Chat' started by Port1385, Jan 2, 2009.

  1. Super big cap established companies trading for pennies. Will they ever go bankrupt? I dont know, but any good or bad news has these stars shooting up 25-35% at a clip.

    Its time to trade the pennies right here on ET!
  2. Not worth the risk imo. Those pops during distribution and/or liquidation are intoxicating and especially fatalistic to inexperienced traders going to lower time frames. Most noobs will get stuck in a losing position and erode or sweat-out a halt.

    Better opportunities exist for the experienced and the novice.

    ....but if one must, be nimble.
  3. Disclaimer: Pennies with a daily volume of over 1 million only...

    I meant this thread as penny trading for the once great companies that we all know and love. LVLT, SIRI, FNM, AIG etc....

    If the market is heading up, then we should pay special attention to these penny stocks which could easily double or triple in a few months time...

    I do think that the place to be is these penny stocks if we are at a turning point in the market. In 2002-2003, there were quite a few of these 1 dollar specials that made it to 7-10 dollars within a year or two.

    You trade the ES, you trade options, why not trade some pennies too? Would you say American Airlines back in 2002/2003 was simply not worth the risk?

    Of course, you have bankruptcy risks. However, a number of companies have filed bankruptcy. Bankruptcies do not mark market tops, but market bottoms. Lehman marked a market bottom...
  4. LIZ

    Can anyone list some more? Im going to run a few scans. Stocks trading over a million shares average volume, but under 5 dollars. Names that we all know and have seen in the past.
  5. Rex84


    LIZ is not a penny stock


    ETFC is almost there
  6. We are defining penny stocks, for purposes of discussion in this thread, as ones below 5 bucks, but average over a million in volume.
  7. Wow penny stocks? For a guy with such a big mouth you sure are goofy
  8. Rex84


  9. Altec55


    PYCT .0001 been patiently sitting and waiting on this gem, watch and learn!
  10. Zodiac4u


    I'm with you on the pennies. I had my wife scarf up fanny and freddy when they almost dropped through the floor and she did well with them but now it seems that they are not moving around to much. Hopefully we will get some more upside momentum.
    #10     Jan 3, 2009