Bought 250,000 shares did I screw myself?

[Ipodkid]

Bought 250,000 shares of HTAC its cheap and looks like with new Healthcare bills that it could be back at its .50 cent range some day, am I nuts? Better question average daily market isnt even 250k did I kill myself here?

[kiffl]

Yes you screwed yourself, don't buy .01 stocks.

[Sniper]

Almost afraid to ask, but WHO convinced you to buy shares in a stock on the pink sheets selling for less than 1 cent/share?

FWIW, these shares have an effective value of 0 once the pump and dump brokers are done with it.

[lastsamurai]

sorry bud...first rule in investing in the stock market....dont buy stocks under $7 a share.

[midas]

Why do you think it could be back to .50 some day? Did you do any fundamental analysis on the Company?

Try an experiment - find out how much stock you can sell back at your purchase price - you'll then have a good idea on the quality of your investment.

[lu_hawk]

[ QUOTE ]
sorry bud...first rule in investing in the stock market....dont buy stocks under $7 a share.

[/ QUOTE ]

that's a pretty bad rule. but yes, buying penny stocks without having a clue is very bad.

[kiffl]

Buying stocks under a $1 is usually a better rule. There are some good stocks under $7, like PartyGaming, but I can't think of any under $1.

[DangerGoodson]

Any thoughts on this one PGCN.OB

I know it's trendy but I think the medical industry in china has to grow with it's expanding economy and they have made alot of deals to help them gain significant market share.

But I'm a noob at trading,

Danger

[FishHooks]

From what I've heard, dont invest in China unless you really know what your doing.

[Sniper]

[ QUOTE ]
sorry bud...first rule in investing in the stock market....dont buy stocks under $7 a share.

[/ QUOTE ]

Far from the first rule, and comparing a listed stock trading at $5 to a pink sheet stock trading under 1 cent, is a little silly.

There are low priced stocks that are good investments.

[NoTalent]

I bought a stock like this once, It was a 3 cent stock. I bought 1000 shares, and it went to 5 cents. I didn't sell and then it went under. oh well.

[DesertCat]

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Yes you screwed yourself, don't buy .01 stocks.

[/ QUOTE ]

Your advice is exactly right, and that's coming from a guy who's made most of his wealth from penny stocks. I make money because I carefully research each company, understand it's fundamental value and stay away from questionable companies (i.e. press and internet touted likely frauds).

If I spent every waking moment for months teaching someone how to do what I do, I'd likely fail. It's not complicated, most people can understand how to do it. But they like to gamble, they get bored being patient and doing research. They want action, they want to trade. So when someone asks for advice I tell them, avoid penny stocks, stick with index funds.

[shagjohn]

[ QUOTE ]
So when someone asks for advice I tell them, avoid penny stocks, stick with index funds.

[/ QUOTE ]

I've been investing in listed stocks, but I'm curious about pennystocks. There appears to be a lot more cruft out there when it comes to pennystocks (i.e. a lot more 'buy my easymoney in pennystocks guide' shtick).

How did you get started, and do you have any recommended reading/websites?

[DesertCat]

[ QUOTE ]


How did you get started, and do you have any recommended reading/websites?

[/ QUOTE ]

Read Ben Graham and books on Warren Buffett. Read Buffett's shareholder letters (available on berkshirehathaway.com).

Basically I'm looking for value, stocks trading well below their actual intrinsic value. I find many more in the microcrap area than in bigger caps. Sometimes they trade at less than the actual net cash on their balance sheet, sometimes they are good companies, only trading at a 5 or 7 PE ratio.

But there is also many that are worthless, hyped, frauds. I spend a great deal of time reading SEC filings and calibrating my BS meter. My experience is the usual internet specialists in microcap stocks are typically untrustworthy stock promoters.

[sprmario]

We can all see now that the answer to your question is yes.

[TStoneMBD]

way to spit on a man's grave.

[FredJones888]

How much did you pay per share including commision ? How big is the spread ?

You already put yourself in a pickle by purchasing an amount equal to a typical days volume. If you were substantially in the hole due to commissions and the spread then I could say with high confidence that you screwed yourself.

looking at chart it needs to get over resistance at .01 if it gets some vol here should be double bottom confirmation. Much better stuff out there at this price.

Almost everything i trade I don't know what they do and are just as cheap as HTAC and I make a killing /images/graemlins/wink.gif

PGCN might be ok, could be good if goes as a china sympathy play

[arod15]

thats a bad rule. There is plenty of money to be made there. While I agree penny stocks are a poor investment. Where you getting your basis? Who made this first rule? No way. Plenty of good stocks there if your saavy enough.

[PorscheNGuns]

Whats your initial thoughts on rnke.ob? I actually thought, based on the CEO's own statements, that it would climb at least slightly out of the gutter. I was wrong for now(fortunately wrong in penny stocks only costs a couple hundred bucks)

-Matt