Financial Crisis – What Else Can Go Wrong?
Posted on April 20, 2009 by Penny Stocks Picker
What is up with this financial crisis? The financial crisis is like the Energizer Bunny…..it just keeps going and going. One would think that we have seen all the bad news already and the financial stocks (if you haven’t noticed, most are penny stocks) are priced at the bottom for a steal of a lifetime. So, I’m asking for your input and opinions on what your crystal ball predicts for the future of the financial markets and the economy. I’m hoping we can generate some dialogue to help make a determination if now is a good time to take off the traders hat and put on the financial investors hat (please post a comment).
What else can possibly go wrong? Haven’t we seen the bottom in the financial meltdown or is there more fat left to cut? What about all those unemployed workers who have lost their homes and are living off their credit card debt? Are they going to be able to pay up or is personal and business credit card delinquencies the next hammer to push the financial meltdown into a new level? I’m told that the federal reserve is printing money like never before and that it will cause hyperinflation and devalue our dollars (check out this FOX News video on Hyperinflation, the ending is scary if this is true www.youtube.com/watch?v=dlHBYQrCnIk). What is the long-term effect of increasing the money supply?
Well, I wear 2 hats (the penny stock trader and the investor) and continue to remain hopelessly optimistic because we are all in this together. I’m not changing my investment plan and remain diversified in many respects (Cash, IRAs, 401Ks, Gold, Silver, ETFs, ETNs, Mutual Funds, Investing in the major stock exchanges, Penny Stock trading, Multiple Bank Accounts, Multiple Stock Trading Accounts…..). However, I’m just brain storming and would also like to know what your doing to protect your net-worth.
Penny stocks to Watch on Tuesday 4-21-09
UYG @ 3.01 (Exchange Traded Fund: If you think the financial penny stocks sector is bottoming you might want to consider this ETF that way you only get hosed if the whole sector goes down in a ball of flames.)
DXO@ 2.62 (Exchange Traded Note: If you think oil is at the bottom you could go long on this ETN (Oil Double Long) (DTO would be the inverse – double short), both are high risk.)
MYNG @ .0022 (Called this back on 3-25-09)
OOIL @ .39 (Volume breakout)
NEOM @ .032 (First mentioned on 3-19-09 at .014)
CHTRQ @ .052 (First mentioned on 4-13-09 at .033)
PCAI @ .10 (First mentioned on 4-13-09 at .04)
Tags: financial crisis, financial penny stocks
Filed Under: Picks N Tips
GREAT pick on CHTRQ at .034! I got in as a result and have since taken strong profits. Question: what are your thoughts on getting in now considering 1) overall downtrend of the past year 2) the evening star setup from today, and 3) today’s PR about being delisted from NASDAQ? I know this is a really long question, but would appreciate your thoughts. Thank you.
PS: Great point about diversification. I’m with ya.
Great job! Sounds like you took profits and are considering entering again. As I mentioned, the company is in bankruptcy proceedings (letter “Q” added to ticker) so it could end up worthless. 1) Usually get a bounce or two out of a downtrend. 2) Check out AmericanBulls.com about the evening star setup, the current candle stick pattern is bearish and triggers a Sell-If (but needs to be confirmed). 3) Delisting from a higher exchange to the OTC is not a good sign IMO. Overall, today’s results were lacking (volume decreased and didn’t move up). I’d wait for a new confirmation signal before entering into another trade. I would expect it would pull back before going higher at this point. Hey, read my articles “Should I Stay or Should I Go Now” and “ASLEEP at THE WHEEL” for some additional information.
Very helpful info — I’m still learning over here. Thanks again!