Heaven & Hell For Penny Stocks
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| 10 Nov Top Volumes |
10 Nov 2014: Penny
stocks occupied a majority of the top 20 highest volume in KLCI. Just
see the earlier snapshot I took. It was an extraordinary day where all
the pennies and super pennies (RM0.10 to RM0.20) surge like crazy
without any real reason. (heck surging pennies don't need a reason to go
up). It is merely speculation frenzy where everyone is trying to buy high sell higher.
Some stocks gained like 43% intraday like NOVAMSC. Heck if you noticed,
many of the "MSC" companies (usually penny stocks) shooting up in high
volume.
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| 11 Nov: High Volume Penny stocks |
11 Nov:
Judgement day for penny stocks when the sell-down happens fast and
furious the next day. Now the top 20 high volumes stocks are mostly
bleeding penny stocks. Obviously the picture snapshot that I took is NOT
the top 5 high volume stocks. (See why I did this at the end of the post)
Moral
of the story: For newbies and "itchy hand" investors/speculators, it is
best to avoid playing the penny game to avoid having a heart-attack or
sleepless nights. Just leave these games to the pros.
**
I was lucky to be able to exit profitably my penny stock investment on
10 Nov itself, because I saw that the sudden high euphoria will not last
long as our current market conditions did not dramatically improve
after the Sept & October bloodshed, even though a sharp rebound
happened after that. (DJIA is hitting fresh highs this week for 2014).
My penny stock is among the ones captured in pictures for both days to
serve as reminder to myself of the risks of playing penny stocks. You
need to quickly go in and get out as soon as you smell danger.
http://www.knowthymoney.com
