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Thread: In Addition To Sirius Stock, What Other Penny Stocks Do You Like and Why?

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  1. #1
    Danzo is offline
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    In Addition To Sirius Stock, What Other Penny Stocks Do You Like and Why?

    I've got crazy ambitions of becoming a millionaire, then buying a dividend stock and living on dividend payments for the rest of my life. Besides Sirius XM the other stock I own is Velocity Oil and Gas (VOIG), a penny stock that's trading at about 2 cents a share. I plan to put 2-3 hundred dollars a month in that stock. I don't have a COMPELLING reason to load up on this stock, but I've got huge dreams, but I don't really know what penny stocks to go after. I'm not a very sophisticated investor, but to me, penny stocks look like little more than a crapshoot. VOIG seems to be as good a penny stock as any since the price of oil will probably go back up over time, they've secured some rights to oil drilling in the Gulf Of Mexico, and VOIG stock WAS as high $3.00 a share from 7/17/08 to 7/30/08.

    Yeah, VOIG is still extremely risky, but are there any significantly better penny stocks out there?

  2. #2
    siri5200 is offline
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    danzo I personally wouldn't go after that pick because for one its otc and you can find plenty of other pennies that are on nyse. Why pennies though? there are so many companies..good companies that are a bargain right now I wouldn't set the bar to high.. maybe just go into investing with the attitude I worked hard for this money I want to lose nothing but gain some and if you pick up some great companies right now you can be rich off of that.. but if you dont like the latter then I would find a penny thats not otc and has heavy volume this is very important without heavy avg volume its tough moving thousands of shares at a time like if you want to rush out of it you may be stuck with most of your position. But even if you want otc i have a penny for you spng it has an avg volume over 1 million and you can trade the swings..

  3. #3
    Danzo is offline
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    Quote Originally Posted by siri5200 View Post
    danzo I personally wouldn't go after that pick because for one its otc and you can find plenty of other pennies that are on nyse. Why pennies though? there are so many companies..good companies that are a bargain right now I wouldn't set the bar to high.. maybe just go into investing with the attitude I worked hard for this money I want to lose nothing but gain some and if you pick up some great companies right now you can be rich off of that.. but if you dont like the latter then I would find a penny thats not otc and has heavy volume this is very important without heavy avg volume its tough moving thousands of shares at a time like if you want to rush out of it you may be stuck with most of your position. But even if you want otc i have a penny for you spng it has an avg volume over 1 million and you can trade the swings..

    Would this stock happen to be Sirius XM?

    You make an excellent point about how it's hard to sell large volumes of penny stock all at once. I once got stuck with 41,000 shares of Thermal Energy International Stock. I had to lower my asking price from 4.9 cents per share down to 3 cents a share just to get rid of it.

    I'll definitely take your advice on looking into NYSE penny stocks. Do you happen to know a website that focuses on those stocks?

  4. #4
    siri5200 is offline
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    Quote Originally Posted by Danzo View Post
    Would this stock happen to be Sirius XM?

    You make an excellent point about how it's hard to sell large volumes of penny stock all at once. I once got stuck with 41,000 shares of Thermal Energy International Stock. I had to lower my asking price from 4.9 cents per share down to 3 cents a share just to get rid of it.

    I'll definitely take your advice on looking into NYSE penny stocks. Do you happen to know a website that focuses on those stocks?

    Well if you trade online im sure you can do a stock screen and put the price to what you are looking for and just make sure your avg volume is there . A public spot you could go to www.marketwatch.com and go under the screener good luck!

  5. #5
    siri5200 is offline
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    another thing If it was me I would not get long these penny stocks.. I think if you find the right volume and just trade the hell out of it thousands of shares at a time on little jumps thats more viable then long term. imo.

  6. #6
    Newman is offline
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    If you are looking at day trading, CTGI might be an interesting stock. I have day traded it a few times and made a killing. Right now it sits at about 8 cents last I checked, but has some wild swings that a few hundred dollars could really make some decent cash. + or - 20% in a day is not at all unusual with this stock.

    You just have to make sure you catch it on its up days... :P

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