So, does anyone play the stock market? I've been dabbling and doing pretty good...
Right now I am trying to buy as much of NSMG as I can, they're the National Storm Management Group. Basically they're the ones that go clean up the messes whenever there's a tornado or hurricane or some other weather related disaster here in the states. Right now, shares are hovering right around 1/2 a penny a piece. Right now I have 55,000 shares of it, When I started watching them they were at 5 cents a share so this is nice and low. I'm eagerly awaiting hurricane season to see if I can cash in on this. I had more but I sold some when it was at a penny a share (I paid 0.0047) but I screwed up on the order and only sold $27.00 worth *lol* so much for cashout out a few hundred eh? But anyway, the price right now is 0.0045 so I'm only down about $10 but I know this one is long term so I'm not too worried about it. Plus the thing I kinda dig about this penny stock is that I only need it to go up 1/2 of a penny and I've doubled my money. I do know that I need to get more shares before June.
I'm still kicking myself right now for messing up FNM and FRE (FannieMae and Freddie Mac). They were down in the 30 Cent range for a short while and at that time I didn't have any spare money to buy any shares. Darn! I did buy my Fannie stock when it was at 0.4399 and boy did I do good the other day when it briefly rallied...I missed it when it was at $1.25 (damn!) but I cashed out at $1.01 and ended up getting my original investment of $250 dollars or so now with the 170 shares I have left are still at 70 cents. I'm hoping that it'll drop in price again so I can buy some more shares. I do have 200 shares of Freddie that I paid 0.9290 for ages ago, I would have cashed it out a little bit as it did rally as well but not enough for what I paid. I think right now while they're still trying to fix the mortgage industry and all the "dirty little secrets" about bonuses and unpaid taxes come out it'll make the prices fluxuate, but I thought out of all the banks, Freddie and Fannie are the two that are government backed so these two would not go anywhere....Am I right in thinking this?
So...what stocks are you watching/buying/selling?
The same reason you're doing so well in penny stocks is what will wipe you out eventually if you're not careful. Any stock under $5 is a really risky investment. If you're having fun and not really counting on this money to retire, buy all means....I play poker with my mad money, personally. But if you're trying to save and build a nest egg or house fund, you should look at some of the bigger stocks.
Right now, I like oil, which can't stay at these levels forever (though it should go down a bit from right here first). Check out BP, fr'instance. I like gold producers too, like Agneco-Eagle Mines (AEM) or even gold itself (GLD) based on continued trouble nationally, but I haven't been watching that closely since I lost my job. (Got a new one now, though).
Personally, I'm still hanging on high divident stocks because I don't expect the market to really bottom for realz for another couple months.
Good luck! :)