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Originally Posted by SVXMAN2001

I've considered penny stocks but i think given my level of knowledge i'll probably stick to strong stocks. Mostly looking at strong companies and looking into investing over the long term. I am really discouraged from "day trading" due to the capital gain tax rate of 15%!! I've also begun taking into consideration of dividend yields. I really think the wireless technology is going to take off in the upcoming years and have research NASDAQ: IDCC which has a lot of promise but no dividend yield. I had an interesting conversation the subject of dividend yields and they felt that organizations that do not offer dividend yields generally attract investors who are looking to cash out, that idea kinda scares me. On that note i began looking at GM and they're offering a $1.00 dividend trading around $22. Now we all know that GM is experiencing a whole lot of troubling issues but over the long term i think they will improve.

Oh and Scottrade I guess you can't buy pennystocks. Do others here use Ameritrade? Other than the cost what are the advantages/disadvantages of each?

haha i am just thinking of the stuff we've posted...who would have thought we would be talking about this in a car forum!!!

We have been here before when a member asked what we would do with new found wealth. I use a broker, I read the fine print on the cheap trade co's, and get a lot of value for the dollar using a broker that isn't greedy!!

Well, cell one hit my 'price' today, so I no longer have any!! I have the 'other' stuff too, but enjoy playing with a couple grand on the pennies!!!

I have actually done better on the pennies than I have anywhere else. I set a price on a stock I am watching, and have an automated 'buy order' in place. And I set a 'sell' price on the stuff I have.. I don't have to go past my e-mail to see if I bought or sold..

I'm up over 700% on one, and only had to hold it for 1 1/2 year!!
The only stock I have ever lost on was FORD, but I only lost $20., and it was a wild ride!!
I only do about 5 trades per year. so I have to make them count!!

Jerry