Guys, these pennies are killing me.
If I compare OTC pennies to the AMEX, NYSE, and NASDAQ stocks I own this is how it works out over the last 5 weeks.
OTC penny stocks inlcuding SPNGE, which I can't sell.....
a loss of 21%
NASDAQ, and the other over dollar stocks.....
a gain of 5%
This points out 2 things to me.
First of all, I must not be good at the pennies.
Secondly, the pennies are really risky.
And third, It's better in the dollar markets. They may go down, but they usually come right back up.
OK, so that was three things....
The point is we are really in a risky business trying to chase big rewards with the pennies. In the dollar markets, the rewards are fewer, but they are steady, and probably a much safer place for our money in the long run.
Let's consider a few that I posted lately
JBLU up 8% in three days
S up 4% in three days
WEN up 5% in three days
I don't need to tell you where SPNGE, BCLE, BEHL, GSAE, QASP, and others are right now, you all know that.
My point is that we may want to reconsider these pennies and start thinking about 4 to 8 dollar stocks on the bigger boards. I think in the long run, they are a much safer bet.