RE: Newbies must askVery good point raised here.
Newbies should beware that a lot of penny stocks are pump n dumps. They rise on almost nothing and can soar to crazy levels. Play the pump and get out quick with your gains. Don't sit around and be in the red for days on end, hoping and praying that it will go back up. Most often any penny stock that has a crazy run never goes anywhere near the high, ever again.
It seems counter-intuitive but when you're up a lot is when you need to cash in your chips. When you're sitting there thinking it's going to the moon, it is a a good time to think about when to cash out. I can't tell you folks how many times I was sitting on over a double and kept telling myself don't sell, it's going to keep going crazy. They're slapping the ask like crazy, big news coming out in a few days, this breakthru new product is going to change the world. I have had each of these more than a few times. They were just rockets going to the moon, then I sold days / weeks later for a loss. Each time I kick myself in the butt. Newbies, please don't make the same mistakes I did. When it pops, collect the gains and get out.
T416