HSX Forum

Playing & Trading Strategy

My long-term penny stock stock project: cheap thrills

Posted by: edzep on May 07, 20:41

For the past 6 months, I've been longing penny stocks, when I can get them for 5 cents or less per share. I try to check for candidates at least once a day. Because of chuckage, and the fact that I'm looking at things I already hold short, I will only initiate a trade if the price is at 1 or 2 cents per share.

I only buy pre-production penny stocks; anythng in production is already more than my penny range, and anything in wrap or release is already too near its delist price. (Well, I hold them, anyway, long or short, since I hold all stocks in my large port.)

I'm speculating that I'll pick up a few future break-outs, which will more than make up for any losses I take when some of my duds get dead delisted.

You think I'm wasting my H$. Well, I've got H$ to spare, and I've been amusing myself. Check out my stats, fresh from my a spreadsheet:

I own 100K shares of 184 stocks that I've purchased at an average price of 3 cents per share, or H$3000 per holding.

My total investment in them: H$527,000

Their total current value: just shy of H$4 Million

Total gain on them: $3.46 Million

Some of the projects that have shown profit will die back down. But, some of them have real potential. My current best gainer is up 42,250% since purchase. I would not be surprised to have a few end up exceeding 150,000%.

(And, once I get a big % gainer, I hold it all the way through -- because it looks so pretty, and I don't care about the money I'd miss by not trading it up and down. It's like a flower that I've grown from a seed.)





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