Penny stocks...?

[DBall]

Anyone do this and know of a decent online broker? I used to trade them a bit years ago, but I went to a guy locally... would much rather do it online.

Any thoughts/suggestions would be appreciated!

[Da Klugs]

Been an Etrade customer for a long time. No complaints but no relative knowledge of others either. $ 9.99 a trade can eat into your penny stock stuff unless you buy a whole bunch.

Bought 10,000 shares the other day @ $.02.

The $ 9.99 commission ends up being almost 5% of the purchase price.

Then again they are up 25% since last week. (So I have a theoretical $ 30 profit)

[jledou]

I have been using Tradeking for the last year as I have been playing around with stocks. They have limited services but as a basic trading house with $5 trades they have good customer service when you need it in my limited experience.

[DBall]

bump for the after work crowd?

[thebayratt]

This may be a little off subject but I wish I had bought K-mart when they went "under". Thier stock went down to like 5cents i think in 2005, they bought Sears out and changed stock name to "SHLD".... and look at it today: $73.09.
I not sure how the merger from KMRT to SHLD went money wise, if the KMRT disolved out or just went to SHLD...

Think about if you had bout $100 or $200 worth of the stocks when it was a nickel.... how much you would have today if it moved over?? ALOT

If I had a thousand or more extra dollars in my bank acount, I'd deffinately try a few penny stocks. I got a decent amount in stocks with the company I work for. So, for now, I'm content.

[larryinlc]

Originally Posted by thebayratt

This may be a little off subject but I wish I had bought K-mart when they went "under". Thier stock went down to like 5cents i think in 2005, they bought Sears out and changed stock name to "SHLD".... and look at it today: $73.09.
.

Actually, that Kmart stock wasn't worth the paper it was printed. In a bankruptcy, the stock becomes worthless in most cases. I believe the stock you are now refering to was newly issued stock when the company emerged from bankruptcy.

Larry

[GolfNut]

Interested in this too. So far we've heard eTrade and tradeking. Any other suggestions?

[jmsremax]

I will chime in....

1. ETRADE
2. TD Ameritrade
3. Zecco Trading (research tools aren't that great, fast executions though)

[BTcigars]

Golden stock advice: Wait for a new Apple product to come out. A flaw will be discovered and the stock will drop. BUY BUY BUY! the next day people realize they cannot live without a new ipod/iphone/ianything because their current 6month old device is large and clunky and not fashionable anymore

[BloodSpite]

Personally I use USAA.

A lot of your financial institutions have a Investment system online, you just need to ask. Depending on your level of initial investment you may have unlimited or limited transactions.

Also need to see what restrictions they have regarding your trade and financial movement of funds. In USAA's case if I sell a stock the funds may be available immediately for use for another investment, however if I wish to turn those funds in to an asset (like my checking account) it takes 72 hours before i can do so.

Just look around and check the options. Several good ones listed here

[jmsremax]

Originally Posted by BTcigars

BUY BUY BUY!

Someone watches Kramer

Originally Posted by BloodSpite

Personally I use USAA.

Just for anyone who doesn't know, USAA is only available to Active Duty Military, Veterans, and their dependents.

I love USAA.

[thebayratt]

Originally Posted by BTcigars

Golden stock advice: Wait for a new Apple product to come out. A flaw will be discovered and the stock will drop. BUY BUY BUY! the next day people realize they cannot live without a new ipod/iphone/ianything because their current 6month old device is large and clunky and not fashionable anymore

Better yet.... find out what the new Apple product can't work without. The battery, acomputer chip in it, or the company that supplies the plastic for the cases, etc.... That type of stock is probly lower (easier/less cost to buy) but when Apple products goes up in production, (holidays=now) the value of the parts inside the phone go up too. Thus increasing Apple's and the phone components parts companies's stocks go up too...
You may not make as much as if you put your money in Apple, but it would seem a little safer to me.

[jmsremax]

Originally Posted by thebayratt

Better yet.... find out what the new Apple product can't work without. The battery, acomputer chip in it, or the company that supplies the plastic for the cases, etc.... That type of stock is probly lower (easier/less cost to buy) but when Apple products goes up in production, (holidays=now) the value of the parts inside the phone go up too. Thus increasing Apple's and the phone components parts companies's stocks go up too...
You may not make as much as if you put your money in Apple, but it would seem a little safer to me.

Exactly, and when Apple signed a deal with AT&T, they were another stock to buy. Now that they are going to Verizon, VZ was something to look at. The list of stocks/companies linked to a product can be endless.

[BTcigars]

Originally Posted by jmsremax

Someone watches Kramer

Lol never watched a Jim Kramer show before, except for when he was on The Daily Show