Glad you made P&L on WCOME. Now you just have to cover the commissions from churning 10K share blocks for pennies!
Everyone I ever meet who trades penny stocks swears that they make huge kachingo's. Makes me wonder why some of the big hedge funds don't move into it. :eek: :eek:
lol...very true...the ones that don't go into the abyss probably are a decent play...kinda reminds me of some joker on CNBC today talking about IF you held Walgreens for 27 years, blah, blah, blah...problem is only people who know about trading and survivorship bias can call bulls### on these clowns...Everyone else goes running around like chickens with their heads chopped off, "why didn't I buy Walgreens"....
If you bought 100 shares of HD in 1982 it would now be worth 1.6 million... I saw this on a pennystock site the other day. I wonder if this is true... :eek:
I don't trade individual stocks myself (funds and SP futures), but if I did, I'd risk 0.5 to 2% of capital... the same as I'd have on a 100% position fund trade with today's volatility... and let 'er rip. Like an option that never expires. Either they save the company and you get a 10+ bagger, or it goes BK and you lose like it was any other trade. (Could also give you a 4 bagger in 2 days like WCOME did this time... then you have to decide whether a "hand in the bush is worth 2 birds"). I was thinkng, "If I had a stock account, I'd buy 100K shares at .06". BTW, do you rember Storage Technology... IBM spinoff? In the '80s, they traded down to .31, filed BK, came out and traded at $90 2 years later.
1st time I got my hands on $10K, (back in the '80's), I rushed out to buy a BMW. Lamented for years... had I bought MSFT, could now afford a Bimmer dealership. (Heavy sigh)