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Re: private_wealth post# 64777

Thursday, 05/20/2010 11:41:46 AM

Thursday, May 20, 2010 11:41:46 AM

Post# of 83044
To make money on these big percentage swings - you have to have "big balls" or you have to be stupid & lucky - one of the two.
The problem with daytrading a penny stock (lets say at 0.0004/sh to 0.0006/sh range)- to buy it you have to put the purchase order in most likely at 0.0005/sh to get the order executed, and to sell it at say 0.0006, you have to put the sell order in at 0.0005/sh to get the order executed.
The orders just dont go through at the current listed price - you usually have to raise the purchase price & lower the selling price to get the order executed - thus killing most of the profits if not all the profits.
Anybody who is claiming to be "hitting" these 33% jumps up & down is most likely "not comin' clean" on the trading activity :)

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