My second day in the market, and I picked a stock that rose almost 16.5% (after I bought it) in one day! Look out Wall Street! Gordon Gekko ain’t got nothin’ on me!
Y’see, after buying some other stocks, I noticed that I had 2 and change left, so I plunged in madly and scooped up 50, count 'em, *50* shares of Infinium Labs (IFLB) at the unheard of low price of .0395 per share. Suffice it to say that my prescient pick skyrocketed up to $.046 per share, thereby garnering me the tremendous winnings of, get this, 32 and a half cents!
Stick with me and Ride the Rysdad Rocket to Riches! Can I pick 'em, or can I pick 'em?
And, no, I didn’t pay any commission because I used my last free trade.
you might have The Touch…and if that’s the case, i might wanna remember your screenname for when i finally get some money and want to invest in something.
I always do a touchdown dance when I make a trade that gets me $15 in less than a day. I just walk right up, pay the the $20 commission and tell the man “I’ll see you tomorrow. There is gonna be a party the HAUS TONIGHT.”
I did watch my trading program’s stock ticker for a while, and there was one block of 100,400 shares that went through. The price was about $.04 at the time. So, that means that, for his investment, if he cashed out at the end of the day, he made about $600.00.
But he risked over $4000.00. On penny stocks.
Gotta love a gambler.
(Closed circuit to Shagnasty…my trades cost $7.00 on Scottrade. Do you get a lot of info from a broker for $20.00, or do you just use an online program?)
“Gosh, I’d like all the convenience and diversity of those no-load index funds in a stock. Only instead of not paying a commission[sup]1[/sup] to invest in them, I’d rather have the commission waived!”
Well, I put about $200 in Sirius when it was $9 a share. It’s now trading at just over $5 a share, so I’ll soon be in the penny stock club. Why hasn’t Howard Shore’s presence booted Sirius’s stock price up, is what I’d like to know.
Here is an article from 2003 on HardOCP regarding their suspicions about Infinium and its founder Tim Roberts. There was a huge legal battle; Infinium wanted this article removed because it showed them in a very bad light (they charged libel). Unfortunately for Infinium, all that was posted were verifiable facts, therefore it was not libel.
Not directly said by HardOCP, but I infer, was that Infinium was only interested in raising money for a product that they had no intention of building and thereby making their Execs rich, and their investors poor.
I haven’t followed them in the news recently, but their beginnings seem a little shaky.
Yeeter, thanks for the tip. I won’t let IFLB break me.
Somebody, though, is making some money on this stock. Today, when the stock hit the magical number of 4.9 cents, a bunch of sell orders kicked in. The stock fell off a cliff. It ended at 3.1 cents.
But 36,464,078 shares were traded today. Somebody cleaned up.
Sometimes you hit the market big. Sometimes the market hits back.
(I should also note that my ‘real’ stocks split the day. I ended the day down $17.00 from yesterday, but but I’m still up from my original investment. )
Anyway, these penny stocks are kind of fun, but I’m not going to bet the mortgage on 'em.
Hmmm. Maybe we should have a “Penny Stock Challenge”? Give everyone a mythical $10 to spend, and see who comes out the best in, say, 30 days or something.
The winner gets a cheap crown, a candy bar, and the esteemed title of Stock Advisor to the Smartest Man in the World.
Well, Sirius is an extremely volatile stock. It has over a billion shares, and it trades a lot during a day. It’s a common stock for day traders. So you never know.
Originally I thought your 16.5% profit was a puny effort. However I quickly discovered that if you can achieve this on all 250 trading days (and why not) by the end of a year you will turn that $2 in to $68,509,549,817,627,300.00
