Stock market thread.

I have been in the market since April, so im still pretty green.. but i have been playing some penny stocks in the hopes to get rich. What stocks are you guys in? how do you play the market?

The pennys are way risky, but the way i see it, id rather buy 10,000 shares of a promising stock in the pennies with the possibility of it going to $1 + , than buy 10 shares of say Apple or something that doesnt move much and i cant afford enough to really make any money.

currently my hopefuls are:
Terremark (TMRK)
Spongetech (SPNG)
Biocentric Energy Holdings (BEHL)
Insmed Inc (INSM)
and Washington Mutual (WAMUQ) -- these guys are in court with JPM and FDIC for 4 billion dollars right now and if the judge rules in favor of wamu there is big $$$ potential

Overall i am down about $2,000 right now, but a few of these have the potential of shooting to the moon. INSM for one, is a pharmeceudical company that is in development stage of a drug for Diabetes, if its approved this thing could be at $25 no problem.

Anyone else follow any of these? or have any good tips?

 

Nobody makes a fortune buying penny stocks. Stocks are like anything else. You get what you pay for. If you want to be rich by the time you retire, its easy.

1: max out your 401k.
2: Start a few mutual funds
3: Invest in some solid blue chip companies
4: Invest no more than 10-15% in emerging markets ( China, India, Brazil)
5: Invest in companies that make things everyone buys ( Johnson and Johnson, BP, Mcdonalds, etc)
6: Invest in "sin" stocks like alcohol, porn, and tobacco companies

The bottom line is that you want a diverse investment strategy. You can easily fulfill your retirement needs just doing the first 2 steps and nothing else. Save 10% of your income. The market has historically had a 7-10% median annual appreciation for 100 years. That means that if you invest 10-30k by the time you are 30, you will have over a million at age 60. That's it! Don't go for penny stocks, gold, or any of that other worthless crap. Just be old fashioned, invest in your 401k and a couple of mutual funds and you'll be good to go.

 

i invested 2 years ago finally im going back up and im up a few k but im eating shit on us airways rite now