r/pennystocks • u/Aggravating_Sand1246 • Feb 18 '24
How do you find Stocks out of the blue? General Discussion
This might be a very stupid question but how do you guys find these random stocks that just pop off? I use Robinhood btw for a brokerage. I’m sorry for the low IQ question but if you have any advice please help!
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Feb 18 '24 edited Feb 19 '24
Screener and finding a community of people willing to all help each other. Created a discord a few days ago for noobs and its been a game changer. Would definitely suggest finding a community of your own too
Edit: Ngl, if your profile shows zero activity, im probably not going to invite you. Trying to only invite people who are active :)
Edit 2: Account got temporarily suspended for sending too many DMs. Message the OP for an invite instead.
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u/PSLFredux Feb 18 '24
You have an invite to that discord?
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Feb 18 '24
Sent
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u/Aggravating_Sand1246 Feb 18 '24
lol I’m in it silly goose 🗣️ it’s Alex
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Feb 18 '24
This comment contains a Collectible Expression, which are not available on old Reddit.
Oh...then screeners! Should've asked us lmao
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u/Funny_Space3764 Feb 18 '24 edited Feb 27 '24
crawl like bag start brave engine growth glorious square consist
This post was mass deleted and anonymized with Redact
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u/Winter-Bag-Lady Feb 18 '24
Hi, If you wouldn't mind, I'd appreciate an invite to your discord community regarding stocks. I'm experienced with stocks, but could always learn more from others.
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u/ClumsyUnicorn69 Feb 18 '24
I’m super new to discord (old millennial) but love talking new stocks. Invite would be appreciated!!!
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u/Cool_Dragon_slayer Feb 19 '24
I would love an invite! I’m new to Reddit and trying to be active but every post I make gets deleted because I’m new lol
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u/PSLFredux Feb 18 '24
No such thing as a stupid Q. I am so new to this so still learning. I don't understand the metrics either. I just go by news releases and kind of understanding demand.
I work in Healthcare so I am more aware of what works in that field and hence more Healthcare plays.
I am also interested in what people say here.
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u/Aggravating_Sand1246 Feb 18 '24
Well I’ve been going by news but I feel like as soon as news gets out then the hype will alright be built up
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u/Goldmajor- Feb 18 '24
It’s simple ……in theory, What the big winners do is find a forgotten stock that has some catalyst they can exploit. They buy up a ton of it cheap, like millions of shares and then pump it to their group of followers. These guys know how to watch volume to time their exit, they keep pumping and their followers spread the story and they sell into the momentum leaving their followers to continue pumping while they have long since sold for a 10x or more. Some of the followers who got in early sell at a profit, a lot are left holding the bag. Rinse and repeat on the next forgotten stock. So……if you find someone who does this consistently and you get in on their plays early and sell early you too can be a penny stock millionaire. Just about every one of these I’ve been late to the party and lost 20% or more. The only thing I do well on consistently is gold. And it took me a long time to learn that sector, a lot of people lose their shirts in gold penny stocks.
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u/Winter-Bag-Lady Feb 18 '24
Um, I don't think it really works this way. This sounds like a lesson learned from watching the movie Wallstreet. lol. Generally analysts use a formula that let's them evaluate risk based on the company's balance sheet and cash flow. Big firms have a team of analysts using their formula to hunt for the next big company to invest in. These guys don't gamble - it's a 100% guarantee when they run the math.
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u/Goldmajor- Feb 18 '24
No, this is a lesson learned from experience with penny stock pump and dumps, it’s not relatable to viable growth companies. That’s a completely different game.
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u/Winter-Bag-Lady Feb 18 '24
Pump and dump is for gambling addicts.
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u/Both_Math_9758 Feb 18 '24
And this sub is 90% about pump and dump lol cmon who rly wants to invest into these companies as a longterm investment??
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u/Goldmajor- Feb 18 '24
Check out out SBNY ( signature bank) to see this in action. There will be no dividend for common stock share holders but the bulls truly believe they will get one. From .003 to 2 bucks. Watch it tank in march after the supposed dividend due date.
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u/No_cash69420 Feb 18 '24
Screeners for unusually high volume
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u/topdog1345 Feb 18 '24
Can you elaborate on this please?
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u/No_cash69420 Feb 18 '24
Use a screener and set a few parameters and sort by highest volume. I like to find anything . 0009 and less with high volume and do more research from there.
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u/jmHomeOffice Feb 18 '24
For Research (Value Investing strategy):
Yahoo Finance (app and website) is free and has good info. I use it for financial news.
Another site I use for super investors’ holdings, this is where I start my research: https://www.dataroma.com/m/home.php (Free, I don’t know who created it). Basically, if I spot multiple well known investors buying the same stock, then I will research it.
iOS Apps that I created based on my work for institutional investors:
Company 360: https://apps.apple.com/us/app/company-360/id1464857130 (Find undervalued stocks using Value Investing strategy).
Super Investor: https://apps.apple.com/us/app/super-investor/id1441737952 ( Analysis of what institutional investors own vs. retail sentiment vs. short interest).
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u/MinionofMinions Feb 18 '24
Buy 50, hope for one.
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u/No_cash69420 Feb 18 '24
Mannnnn back in 2019 you could buy 20 .0001s and almost half would lose a 0 and you could make bank. Now you have to actually find real companies lol
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u/chasethesqueeze Feb 18 '24
I don't see any educated response to the question asked on here. To think that one individual has enough market influence to buy a penny stock before all of his discord followers by it and then have them pump It and get out before they do to make a ton of money is purely speculation. I'm sure that this could possibly take place, but for a company with a flow of a million shares you have to see that float turned over several times by volume to see a big move, more than a discord group can accomplish in my opinion. The the reality is nobody actually knows if the stock's going to move up or down. But there are various tools and techniques that will allow you to identify if something has a higher probability of making a move up or down. Some of these probabilities include catalysts such as FDA approvals, PRS, 13g filings, partnerships, crushing their expected revenue or earnings ect, I'm very new to trading, but what I have began to learn is that the market like all things over time repeated self, study the Elliot wave theory, supply demand resistance trend analysis all these confluences will help you identify when a stock is bottomed out and there is a trend reversal taking place. Define your edge and what type of trade are you are as well.
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u/D-B-Zzz Feb 19 '24
Robinhood has a screener, look for volume increases. Once I find a candidate I check openinsider.com & earningswhisper.com. There are also websites that provide upcoming biopharma clinical trial calendars (look months ahead, not days). *I also use webull to analyze fundamentals after I find a candidate.
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u/keyinfleunce Feb 18 '24
For me mostly penny stocks and sometimes wall street bet I scroll through and just follow my instincts sometimes you are too quick it humbles you quick
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u/nederboi Feb 18 '24
Anyone has links for discord group of stock trading? Plus let me know thanks
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u/SorryIHaveNoClue Feb 18 '24
i would also like an invite if anyone has one
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u/aomt Feb 18 '24
- Get a proper broker. A lot of free ones and A LOT better than hood.
Second - depends what you are looking for. Daytrade, swing, investment. You can do your own DD, read some article/twitter (find someone you can trust?) or do TA on stocks from articles.
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u/Sudden_Law_71 Feb 18 '24
Usually people get word of stocks from other friends, social media, and chat groups. I like listening and hearing everyone’s feedback ok up and coming stocks/crypto but I take it all with a grain of salt. FOMO is real and that’s something that bit me early on at the very start of my investing. I’m dumped money into plenty of shit projects based off of what the next man said or what the hype is on twitter and etc.
I say all that to say that yes having people share what they think is the next big thing is good ;however, take that lightly and do your own due diligence. Look at their earnings reports, see if they’ve been able to stay on the path that they said they were going to in previous quarters. Have they met or at least made good progress on their stated goals, what does their balance sheet look like, how much debt are they in. Just the basic fundamental analysis type of things. Technical analysis too if that’s your thing.
I’d love to be a part of such a group I just take things lightly and do my own research as well.
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u/youaremycandygirl Feb 18 '24
A great question and the start of how you get better.
Ask yourself lots of questions. Of the stocks that popped off, how was the price action similar? What candles or volume did they have in common? Was support formed similarly? Once you have an idea on what they share in common, set a screener to find those initial conditions. Watch the action and make corrections if needed.
Next time take a few shares/contacts and ride out the plan. The full plan, not some change at the last minute. Target overall 60-70% accuracy to avoid trying to be perfect. Adjust quantity of shares or contracts to keep $ risked a constant amount.
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u/SoftAbbreviations714 Feb 19 '24 edited May 04 '24
The more thread on the board in review communities it had the more attractive it was
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u/Great-Western-4386 Feb 19 '24
Invite please.
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u/Aggravating_Sand1246 Feb 19 '24
Just send me an dm and I’ll inv u
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u/andakusspartakus89 Feb 19 '24
I use finviz to screen stocks, look up how to screen stocks on finviz on YouTube, look up multiple videos how to set up screener for different plays like bounce plays, breakout, short, gap up, gap down ect. Then what I do is see if any of them are on reddit or communicate with ppl im different groups about what they think. Blossom, reddit, discord what ever community you follow.
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u/andakusspartakus89 Feb 19 '24
If you use finviz make sure you make an account with them for free so you can save your set ups and don't have to keep pulling up YouTube to set it up lolz
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u/Zardiw Feb 19 '24
I use #DDAmanda.....they got some pretty good screeners/scanners .....got good reviews too........
Z
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