get it in ya
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- Jan 12, 2009
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I play with penny stocks from time to time, mostly I will watch a stock for a week or so to see if there is a pattern, such as it will have a pop when the market opens followed by a decline, I do not try to make big money, I will buy a stock that is 2-5$ per share, throw 10k at it, and get back out quick and make anywhere from 100-600, but yeah you can lose your ass on those, I always tell people that want to try it, to not put in anymore money than you can afford to lose.
exactly bro, what your doing is gambling 100 percent but it can be a nice little rush. I just don't think its worth it for many different reasons. the thing people forget is taxes. owning a stock for less than a year you get hit with the short term tax hit which takes a huge chunk of money then you add up fees from buying and selling and half the profits are gone. but I understand why people do it, just like scratching tickets lol