RSSNeed some penny stock advice…what to do? SKGO, CTIC, BGOI, OWVI?
Saturday, June 5th, 2010
I realize getting help on stocks is like asking for next weeks winning lottery numbers but here it goes…
I think I have the worst luck ever. About a week ago I decided to “play the pennies”. My first time ever.
I bought: SKGO, CTIC, BGOI, and OWVI They all tanked. It seemed like as soon as I bought them, they went down, way down.
My cost to current value is down $4000 ouch!! What should I do? A lot of people say get rid of them but them I am out that money for sure. Also If you know anything about those 4 companies, let me know your thoughts on them.
Tags: advice...what, BGOI, CTIC, Need, OWVI, Penny, SKGO, Some, Stock
Penny stocks can be fickle. I would honestly wait at least another month or so and see what happens. But if you want one to watch check out ATNP. They have some new technology that they have been working on and will be released at the end of month which should make it jump a few cents up. But its all really a crap shoot. As soon as you sell, they will probably jump up. Just stick in there and wait and see.
Haven’t you read a couple of thousand posts on what great investments pennies are?? You’re down 4k, geez what a shock.
Stick with these turkey’s & lose the rest.
Sorry to hear that. It seems that you have fallen in the penny stocks trap, buying penny stocks that had been pumped up and are due for a fall back. I buy penny stocks differently. read this brief article
http://www.pennystocksmpire.com/penny_stocks_to_watch/jan2010_tlag.html
I can’t predict what is going to happen for the above stocks but i would give you the advice based on what i am seeing from the charts.
OWVI might have a room for the upside so you might want to keep it a bit more time.
BGOI i don’t trust gas/oil companies. seems to have some minor up move but will doubt it will go to its previous high anytime soon.
CITC this is risky and you need to be careful here. The gap down usually means further down movement in the beginning stages and it means a bottom after long down trends.
SKGO looks like it is going down more since the down volume is still somewhat high.
hope that helps