Making $5K with $20K each month

PennyTrader · May 15, 2007

I have not traded my friend's account much, I did buy 100 DNDN on his account before the FDA decision, I sold for $1K loss, sorry for him.

On his account, about 70% of the $ are in SNEN, I bought them last month and I didn't sell on the runup, then I added 1K more a few days ago. I feel this SNEN is a good and safe investment, since his account is a cash account and with Etrade, I cannot flip it like my own account, I've to hold for much longer regardless of daily changes on the price.

I also bought 2K ESRG on his account at $1.62 yesterday. Right now he has $178 cash left.

PennyTrader · May 15, 2007

No kidding, you're right.

Not only NASDAQ stocks went crazy back then, you had to take a look at the penny/microcap stocks, one of my penny stocks went up like 10000% or more, I had millions of shares bought at 0.0002 with $3K, I believe I was one of the largest shareholders in that stock, in one day, that stock shut up and closed over $2, I was a paper millionaire (around $30 million) for at least one day :-)

Maybe I can find the screen capture on that exciting moment several years ago. I think I still have it.

Well, I've never been financially stressed like this year either. Things have been changing, for worse or better.

Quote from 2ez:

I donât agree totally that PT is assuming unnecessary risk. I do agree with your style of having a couple of stocks to watch and trade. Not going to say this is boring?but more conservative. If I can snatch $60â¦I will take it. I Just have to do this 1mil times?hehehe Like Mr Buffet says?get rich slowly. â¦at least until I learn other ways and this is why I am here.

Back then my picks were: RIMM, INSP, SEBL, VRSN, QCOM, DELL just to name 6. but also back then you can buy SEBL on a Monday?.and have your position up 50% by the end of the week if not doubled. I didnât need TA and never read up on any fundamentals. As I look back now?it would have been more advantageous for me to read up on this because then I would have been prepared for the changes in the markets?which resulted in my account reducing significantly. I followed the crowd. IPOâs were hot and it was extremely difficult not to make money. Splits were occurring more frequently and even soccer moms were daytrading. I mean no disrespect to anyone?.but it was easy in the late 90âs up until 9/11 so to hear someone made a nice chunk of change was no Black Swan...it was a common occurence IMO. But even after 9/11 one should have made some money back.....?.prices dropped like crazyâ¦â¦AMZN was $5 back then.

But the party was soon over and I had to become more trading savy and find other ways to make a buck.

So I appreciate your style as well as PennyTraders'. This trading is easy to learn, but difficult to master. markets are emotional and forever changing. for me I am learning the many styles of trading to better deal with the changes in the markets. I do not intend to loose like that again. I need a constant cash flow, because my intent is to leave my day job sooner than later.

yc47ib · May 15, 2007

with all the solar stocks I am watching today down an average 4-5%, this ESRG is strong bucking the trend.

My nervousness with playing this type of stock is that if I donot get the insider knowledge, I do not know when the large holder is going to clean the bag; and if just by watching the chart and tape, when I find something is not right, it is too late to get out. A trailing stop to sell at market should work, but my Optionsxpress acct twice failed to execute this type of TStop......

I will try this type of trades once my IB acct is funded. But IB does not quote data for ESRG......

Quote from PennyTrader:

I hold 2500 ESRG, the gains are not realized. As I said, I look for $2 target, I think it has a good possibility to be there by the end of the week, this one has just been noticed by others.

PennyTrader · May 15, 2007

In fact, it is very easy to spot. Stocks move like 5-10% daily like TUBR and ESRG have big $$ behind them, in fact, if you have level 2 and watched ESRG during the day, if MM QUIN/EFGI were off the ask (they did at some point but resumed immediately), the next best ask was around $2, it is a controlled move. So when does the run stop for stocks like TUBR? It was when QUIN/EFGI off the ask, they've no more shares to sell, no more selling pressure, a huge relief POP then followed, a pop of 20-40% in minutes or hours, then that's top. This was what happened to TUBR. They had no more shares to sell around $3-3.20, then TUBR popped up to $4.30s very fast. The trick is sell on the way up, don't get greedy, when the stock started to go down turn esp finished in red for a day, no more support, it is over.

Since none bought ESRG less than $1.50, very little profit can be made by most, it is safe to hold at this point - maybe to Thursday or Friday.

Quote from yc47ib:

with all the solar stocks I am watching today down an average 4-5%, this ESRG is strong bucking the trend.

My nervousness with playing this type of stock is that if I donot get the insider knowledge, I do not know when the large holder is going to clean the bag;

PennyTrader · May 15, 2007

I found the paper. On one of these NANO tech momo days, CTKH signed a nanotube deal with MOT, my holding on CTKH shoot up 1,179,100% from where I bought months ago, the market value: $44.86 million, got to be an Etrade record, woohoo! It is like winning a lottery but cannot cash it.

Of course, at that time, I holded over 30-50 different penny stocks (3 pages).

Quote from PennyTrader:

No kidding, you're right.

Not only NASDAQ stocks went crazy back then, you had to take a look at the penny/microcap stocks, one of my penny stocks went up like 10000% or more, I had millions of shares bought at 0.0002 with $3K, I believe I was one of the largest shareholders in that stock, in one day, that stock shut up and closed over $2, I was a paper millionaire (around $30 million) for at least one day

Maybe I can find the screen capture on that exciting moment several years ago. I think I still have it.

Well, I've never been financially stressed like this year either. Things have been changing, for worse or better.

stevegee58 · May 15, 2007

My wife wants to know, "What did he do? Did he sell?"

yc47ib · May 15, 2007

I am curious too, what happened later? why cannot you sell and cash in?

Quote from stevegee58:

My wife wants to know, "What did he do? Did he sell?"

2ez · May 15, 2007

Quote from PennyTrader:

I found the paper. On one of these NANO tech momo days, CTKH signed a nanotube deal with MOT, my holding on CTKH shoot up 1,179,100% from where I bought months ago, the market value: $44.86 million, got to be an Etrade record, woohoo! It is like winning a lottery but cannot cash it.

Of course, at that time, I holded over 30-50 different penny stocks (3 pages).

Bru.....i'm lost. You said it was on paper.....but what happened ?

PennyTrader · May 15, 2007

Not I was not trying to sell, they won't execute a share, lol. Yes, there were prints and trades over $1 and $2s, they won't sell a share for me even at 0.01. Remember this was a pinksheet stock, MMs have the right to take or refuse your shares, esp when you want to sell millions. MMs are the middle men, they always sell their inventories first. The management of the company had no shares, immediately, the company started to cash in by diluting the stock through financing, and eventually it did a reverse split. I think I sold most of my shares at less than a penny, I sold with good percentage gains compare to where I bought, but the $44 mil is just a dream.

It is good ET doesn't want traders to buy penny stocks, if you buy at 0.0002 and sell at 0.0001, that's an instant 50% haircut, there is no incrementals in between. 100-200% gainers in a day was not uncommon on these stocks, but if you have millions of shares, you won't be able to sell them.

Quote from yc47ib:

I am curious too, what happened later? why cannot you sell and cash in?

otcstockfund · May 15, 2007

Quote from PennyTrader:

In fact, it is very easy to spot. Stocks move like 5-10% daily like TUBR and ESRG have big $$ behind them, in fact, if you have level 2 and watched ESRG during the day, if MM QUIN/EFGI were off the ask (they did at some point but resumed immediately), the next best ask was around $2, it is a controlled move. So when does the run stop for stocks like TUBR? It was when QUIN/EFGI off the ask, they've no more shares to sell, no more selling pressure, a huge relief POP then followed, a pop of 20-40% in minutes or hours, then that's top. This was what happened to TUBR. They had no more shares to sell around $3-3.20, then TUBR popped up to $4.30s very fast. The trick is sell on the way up, don't get greedy, when the stock started to go down turn esp finished in red for a day, no more support, it is over.

Since none bought ESRG less than $1.50, very little profit can be made by most, it is safe to hold at this point - maybe to Thursday or Friday.

actually quin/efgi do most of the good promos on otc(quin will sit on bid and absorb unless a good chunk comes through then force back up) off the top of my head NAUC STTK GHLT IRXI TUBR