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Started By
Message
Seriously thinking about doing the opposite of my instincts in the stock market
Posted on 12/13/22 at 12:35 pm
Posted on 12/13/22 at 12:35 pm
List of miracle stocks I've bought at different points in the last 2 years...
Sundial
Zomedica
AITX
Ocugen
PHIL
...and now Argo Blockchain, which I bought back in February for $1.21 this morning and sold for 4 cents lol.
Every since miracle stock has bombed historically.
If someone doesn't know what they're doing, like me, tries to find miracle penny stocks that are destined to take off, would it be a good strategy to identify the penny stocks that are destined to take off and then short them?
Also, please keep in mind that this is not serious money and just play money and my life and my future and my retirement doesn't depend on it.
Sundial
Zomedica
AITX
Ocugen
PHIL
...and now Argo Blockchain, which I bought back in February for $1.21 this morning and sold for 4 cents lol.
Every since miracle stock has bombed historically.
If someone doesn't know what they're doing, like me, tries to find miracle penny stocks that are destined to take off, would it be a good strategy to identify the penny stocks that are destined to take off and then short them?
Also, please keep in mind that this is not serious money and just play money and my life and my future and my retirement doesn't depend on it.
13
Posted on 12/13/22 at 12:39 pm to Sgt Tuffnuts
Penny stocks are pennies for a reason. Just think of it as buying scratch-off tickets.
Posted on 12/13/22 at 12:39 pm to Sgt Tuffnuts
Short AAPL then
Posted on 12/13/22 at 12:40 pm to Sgt Tuffnuts
You have come to the right place. Should be plenty of penny Stock experts in here to help you. Sorry i'm not one of them 
Posted on 12/13/22 at 12:41 pm to Sgt Tuffnuts
LINK
Read that book; I think you will get alot out of it. There's alot of good wisdom and interviews with legendary investors and their thought process and approach towards investing. There is a chapter about just going the other way than consensus; which made me think of it. One of my best reads of 2021, highly recommend to anyone; especially those who have not experienced a full business cycle or recession yet which I would imagine is a good bit of people on this board.
Read that book; I think you will get alot out of it. There's alot of good wisdom and interviews with legendary investors and their thought process and approach towards investing. There is a chapter about just going the other way than consensus; which made me think of it. One of my best reads of 2021, highly recommend to anyone; especially those who have not experienced a full business cycle or recession yet which I would imagine is a good bit of people on this board.
This post was edited on 12/13/22 at 12:44 pm
Posted on 12/13/22 at 1:18 pm to Sgt Tuffnuts
Buy qngy today and sell for like 30% profit tomorrow
Posted on 12/13/22 at 4:06 pm to Sgt Tuffnuts
quote:
would it be a good strategy to identify the penny stocks that are destined to take off and then short them?
Depends. Do you like your house?
Let’s say you short 10,000 shares of TURDY @ .05. In the after hours, one of Tony Soprano’s other shell companies buys it out for $10/share. So long house. Nice living in you while I could.
You said it right here:
quote:
If someone doesn't know what they're doing, like me,
The absolute LAST thing you should be doing is shorting penny stocks, or any stocks, unless you have a great deal of trading experience.
Instead of “playing” with your money, why not learn some basic, fundamental trading strategies and still enjoy the experience, while also moving up the learning curve? Just a suggestion. Good luck either way.
Posted on 12/13/22 at 5:44 pm to Sgt Tuffnuts
quote:
miracle penny stocks
I don’t like the term “buying” stocks. Stocks are an investment and should be looked at as such. “Investing” in stocks, not buying.
With that said if you’re looking for lottery ticket miracle stocks, and you end up buying penny stocks.. you have to understand that
quote:
looking for lottery ticket miracle
Is likely that company’s mindset too.
Posted on 12/13/22 at 6:43 pm to Sgt Tuffnuts
quote:
If someone doesn't know what they're doing, like me, tries to find miracle penny stocks that are destined to take off, would it be a good strategy to identify the penny stocks that are destined to take off and then short them?
That's because by the time you "find" a penny stock the whales have already accumulated and are distributing their shares to you. The exit liquidity.
Posted on 12/13/22 at 9:32 pm to Sgt Tuffnuts
I like to have no instincts or directional bias at all… that’s why I trade options!
Posted on 12/13/22 at 11:29 pm to Brobocop
Posted on 12/14/22 at 3:31 am to MrSpock
quote:
That's because by the time you "find" a penny stock the whales have already accumulated and are distributing their shares to you. The exit liquidity.
Well, you just made his point. So what he is asking, in this scenario, is when he finds that penny stock, should he short it rather than buying it. Therefore doing the opposite of what he normally would do.
I’m not condoning this. Just pointing that out.
Posted on 12/14/22 at 3:47 am to Jag_Warrior
quote:
Depends. Do you like your house?
Let’s say you short 10,000 shares of TURDY @ .05. In the after hours, one of Tony Soprano’s other shell companies buys it out for $10/share. So long house. Nice living in you while I could.
Nobody should be shorting directly.
Short through puts. Defined risk.
Posted on 12/14/22 at 7:06 am to Sgt Tuffnuts
My advice from experience….. if you are in a penny stock and start seeing nice gains- get out. Take your profit. Thinking about owning 1 million shares and the price skyrocketing to $0.85 will keep you in and leave you disappointed because it will not happen. These are garage start up companies that trade, and most of them will never turn a profit or make it to the big boards….
Posted on 12/15/22 at 4:00 pm to Sgt Tuffnuts
I’m still holding EFOI from October cause I tried to follow someone’s day trading strategy without using stop losses. I’m down 50% still and praying for it to rebound for my 1-2% profit. Lol I need it to go up 100% for me to take profits geez.
Posted on 12/15/22 at 7:16 pm to Sgt Tuffnuts
Short the majors
Posted on 12/16/22 at 7:11 am to Revorising
I lost money on numerous penny stock over the last year and 1/2. Almost all of them I could have taken 20% or more gains but was holding out for bigger returns. Trying to do better now and take profits when I can.
This post was edited on 12/16/22 at 7:13 am
Posted on 12/16/22 at 8:09 am to Bestbank Tiger
quote:
Penny stocks are pennies for a reason. Just think of it as buying scratch-off tickets.
Holding a couple myself and riding them to the bottom!
Posted on 12/16/22 at 10:06 am to Sgt Tuffnuts
"Paging Ancient Tiger. Paging Ancient Tiger."
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