i'm in MJNA @ like .20 so hopefully I can make something. Only have 2700 shares so not too committed but probably won't sell for a while. If I lose than no big deal.

http://www.hemp.com

I mean I don't know what this business is? You would really think at a time like this they would also keep their site up to date with developments and what not.

They're company address: 8174 South Las Vegas Boulevard Suite 109-367 also seems a bit suspect haha.

I don't foresee you losing. You're up 75%!

I got into MJNA today at .325. it's up a little bit now. I think I'll hold over the night. I hasn't risen as quickly as some of the others and I'm hoping it plays catch up over the next couple of days.

I would agree that the average poker player is smarter than the average person, however what leads you to believe the average poker player is better than the average investor/ trader in their game?

Maybe what I've written here was misunderstood. I didn't mean to compare the intelligence of either discipline.

What exactly are you asking here?

Why are you recommending amateur traders to trade? What kind of edge do they have and why wouldn't they be better off investing long term in an investment you seem to think is a good long term investment?

PS: I know this was addressed to you, but my questioning is really for the 100s of people in BFI that recommend this and not necessarily just you.

You build you edge by sifting through the huge amounts of bull****. I studied Finance in college and haven't even made it past the surface of what there is to learn, but that goes with any discipline.

A couple of things that I've learned in Finance that may help others, but some may think it's stupid.

1. Take the word "market order" out of your vocabulary. Limit! Limit!

2. If you're going to take advice, take it with a grain of salt and do your own research. Try to poke holes in the recommendation that you were given.

3. Don't use a stockbroker. They get paid from commissions. Commissions= Not your best interest at the FOREFRONT of their mind. You want to tie their success to your success.

4. Check out the fine print of your employer 401K. How much do they match? How much do you contribute? Don't allow you retirement to hinge on the company's success. Check out the management fee of the different funds that you have your money in.

In regards to your original question and day trading, it's not often that penny stocks have high enough volume for large numbers of people to trade and then are all within a growing industry that has been heavily heavily regulated.

It's not always a good time to trade/invest in the stock market. Over the next year, I believe there is a lot of money to be made by investing in these stocks and I can see many of them being bought out by a larger company to essentially buy industry expertise.

I also think within the industry there is a ton of corruption, coordinated pump and dump schemes, etc.

Take anything I've said with a grain of salt

1. Reasonable advice for some people. However, telling amateurs to market time may get some (read: most) of them in trouble.

2. Agreed, question everything, but listen to those more knowledgeable than you.

3. There aren't too many stock brokers around any more. They have been replaced by financial advisors, who often times get a % of your investment w/ them (aka- so often times your interests are in line with theirs).

4. Most people have little to none of their 401k invested in their own company, but I do agree that if someone does they need to sit down and look at how much of their net worth is tied to their company.

I disagree that we should concentrate too much on management fees. The way a lot of people invest is to only buy funds that have the smallest fees while paying less attention to what they are investing in. This is kind of like owning a bar and in an effort to cut down on costs to stop buying beer from vendors (or anyone else)... pretty soon revenues are going to start going down when you don't have beer to sell to customers. We want to concentrate on maximizing our returns not minimizing our costs.

You admit to their being a lot of "corruption, coordinated pump and dump schemes, etc.", but fail to point out how dangerous this makes an industry. Especially an industry that most/ all of us do not work in. Kinda like playing in a room where you know some of the regs are cheating.

For the record, I am not saying don't invest in pot. I am just #2ing.

Bahbahmickey,

Agreed. Investing is dangerous. All you can do, before diving in, is look at the information that is available and make the best decision possible.

Off topic:

I met a guy a couple of years ago that has a PHD in Psychology. He's a wildly successful trader/investor. He walked through his investment philosophy with me and it was so much simpler than anything I had seen, yet the proof was in his results.

He factored in human behavior into his models more so than FA or TA. He would invest in companies based off of a variety of factors that were strange to me, at the time. Once he explained his reasoning, I felt like I was given another tool.

I guess my point is: I thought I had a good set of tools in my toolbox, but was forced to re-evaluate that. It's a constant evolution.

I think your "Kinda like playing in a room where you know some of the regs are cheating," is off...slightly.

With card collusion, if you get in the room before them that wouldn't improve your odds too much.

With pump and dumps, if you get there first you just might come out nice.

Slightly better odds and trading stocks it is harder to get a gun pulled on you be a reg. LOL

P.S. I hung on to MJNA overnight.

Anyone look into HEMP yet?

Good day today for my group. Two days ago I had tried sticking more into CBIS at .189 limit and it never got there. Doubled down on EDXC instead. Was nice to see it grow today. Eased pain from watching CBIS.

I held MJNA overnight and I'm still in. Hopefully it doesn't drop too low.

http://seekingalpha.com/article/1999...e?source=yahoo

I read that article earlier, this morning. It's interesting. In this industry, the companies themselves know that it is being over hyped and the smallest bit of positive info is blown out of proportion.

That being said, if you know that, apply that info to your analysis.

Glad that FITX is my biggest position out all of them today. Struggling with whether to just let it go on or take some profit.

You are looking at the collusion analogy wrong. Even when there is collusion you can still make money, however in most cases it would be better to play in another room (or industry) where this doesn't take place.

You are right that w/ pump and dumps that you can still do well if you time it right... but the same can be said of ponzi scheme too. Just don't play with fire for too long.

"but the same can be said of ponzi scheme too." <--This

Very true...however, if someone were attempting to cheat me, I view it as an advantage that I know their intentions. Ponzi schemes often leave their victims clueless. At least with Pump and Dumps you have the foresight/suspicion that that's what you are experiencing.

That's why with MOST penny stocks I don't like holding overnight. I 100% agree with the playing with fire for too long. It's like getting on the Roulette wheel, getting up big and think you have some system...get out!!

What type of movement can we expect tomorrow if Obama signs the Farm Bill?

I would expects things like HEMP and MJNA to make decent runs once press release focuses on that. May have to put something into HEMP just for that reason even though I think it's bogus.

I haven't heard discussion on erbb get and that's my top pick. Look at how diversified they are, how low the stock price is, and what they are working on. When they announced 1 machine location, the stock went up 50%. Then when that fell through it dropped. But that was all based in 1 machine. They just closed the deal with a verification system and have an order for machines.

There is a lot of upside and there are 2 other businesses that can spin off if needed. I'd like some input here on what I am missing.

Good news guys after hours HEMP has jumped (0.09) 40% and CBIS jumped 0.06 ( 25%).

Seeking Alpha released positive article on PHOT yesterday, horrible one today.....price just bouncing around haha.

It's all ridiculous.......no rhyme or reason to any of it I guess. Not gonna stress out about when to take profits when ****s just flying around.

Can someone explain how erbb had a buy in at .22 and it went through? The stock was at .022 when someone put an order to buy and missed the 0. But wouldn't it just fill at market even if it were limit because the price was so high?

Not if someone had their sell order in for about the same price. That's unfortunate. The person that made the purchase lost nearly all of their investment immediately

I got out of ERBB this morning at .0294 and got back in at .0284. I also got into MJNA, HEMP, and ICBU. I am hoping to get in and out with quick trade to make 10% moves up. I am trying to look at daily trading trends and make trades based on them.

I have a feeling this might not work out but I am going to try it.

I haven't found much to go off, as far as a trend analysis. It seems that there is a run up and then a sell off. That's why I have tried to avoid hanging on overnight. I always try to protect the downside more than hope for the upside.

Most of the financials for all of these companies are ****. I've been following LATF. I think once it breaks $0.01 it should run up and the volume is there to get in and out.

I got out of MJNA today, for a small gain because I had averaged down. I still think it's one of the better 6-12 month plays. HEMP was a pump and dump. I'd wait for it to get back under $0.1 before getting back in.

*Disclaimer- I'm, most likely, wrong about everything above