Legalized Gambling

As I harp against casinos right before checking my miniscule brokerage account online, I got to thinking about the two penny stocks I own.

Penny stocks are penny stocks for a reason. Investing in them (without inside information) is essentially gambling. You can gamble online or you can call your bookie (your broker).

So as I gamble on my penny stocks, I'm curious if people like Lew who are against casinos gamble or have gambled on them. Or anyone else for that matter.

As I said, I own two, and the the investment cost I've kept to under 1% of my portfolio value. So far I've made very attractive gains percentage wise, but I attribute that more to simple luck and a little bit of an edumacated guess.

Thoughts? Your penny stock bets? Cincygreg, are you out there?

<font color="#000002" size="1">[ July 02, 2004 09:39 AM: Message edited by: reason ]</font>

I have never dabbled in the stock market at all Reason. I have looked into it, but as of yet have not thrown my hat into the ring (so to speak).
But, as far as legalized gambling is concerend. We allreay have it in Ohio. We have racetracks where gambling takes place legally so it's not brinign a "new element" to the area. Since the Indiana boats are so close, you can add them in as well. We also have a lottery system in place which are in fact a games of chance. As far as the market goes, you are correct in assimilating it as gambling or a game of chance because you are in fact wagering your money on the hope of a larger return.

What...no penny stocks?

Ok, here's one of mine: IMDS. Imaging Diagnostics Systems. I already "made my money" on this, but I'm holding onto a couple thousand shares for fun.

This company is developing a noninvasive 3D breast imaging machine that uses laser technology. Application for final approval from the FDA was made last fall, I think.

No word yet from the FDA, but shares have plummeted since then, and the CEO retired, then made a move to return with some controversy.

What caught my eye about these guys is the Schering was testing the technology with the use of flourescent dyes. I figure if a major pharmaceutical has taken interest, I'm willing to take a little gamble. That was two years ago.

They've only sold a few of these machines, two of them to the country of Dubai. None in the US as they have not been approved by the FDA.

I bought my first thousand at 53 cents, then another thousand at 24 cents, then another thousand at 28 cents. My sister in law's breast cancer and mastectomy got me more in tuned to all of this. It bounced up to over $1.80 at one point in time when I unloaded 1,000 shares at $1.35. I sit and wait to hear if the FDA will approve the technology.

This company has made no money, has negative cash flow, and is funded by some mystery partnership, Charlton Ltd Partners. I don't like that they fund their operations with issuance of new stock.

Management appears to be a bunch of dweebs. The founder died of a heart attack or something about a year and a half ago. The wife took over, and she's the one who retired and is fighting to come back. Shares have tanked to 39 cents.

It's all profit for me now, so maybe I should just sell.

<font color="#000002" size="1">[ July 07, 2004 10:33 AM: Message edited by: reason ]</font>

And since I really like talking to myself, my other penny stock is Triangle Multimedia (QBID). This is a for-pay scrambled cable station for fags.

Yeah, yeah, a real long shot, and there's ever so little information on this new venture, but what I do know is that the guy running it started the Movie Channel. They just hired a marketing guy, and the chatter out there is that major cable providers have signed on or are about to. It would appear they have some cash behind them, but from where no one seems to know.

Fags have good demographics. They have lots of money and are early adopters, so this kind of station could become popular with fag wannabes. If blacks - a relatively poor demographic with about 11 percent of the population - can have their own station, why not fudge packers?

This is a true penny stock, as I bought it at 1.19 cents per share. I plan on getting rich, rich, RICH with my 20,000 shares. HA! It's now down to .6 cents per share.

I figure there will be some kind of news release about the success of their negotiations with cable providers and with the volatility of the stock someone with pump it up at which time I'll dump it.

On the downside, Viacom recently announced they will provide an unscrambled fag tv station.

I learned about this from some guy I work out with at the gym (who, by-the-way, is as straight as they come). He knows some contractor in Newport who knows this two-bit actor from Newport who now lives in Hollywood (he's the kind of actor you see milling around in the background while the camera is focused on the star), whose karate instructor knows someone who is directly involved.

So I figure this is bullshit enough to have some fun with.

I kind of ignored it for a while until I started seeing press releases and some active trading.

<font color="#000002" size="1">[ July 07, 2004 10:27 AM: Message edited by: reason ]</font>

I think legalized gambling has opened up a lot of opportunities but also challenges. On one hand, it gives people a safe way to enjoy games and even try sports betting, but on the other, it requires self-discipline and awareness of the risks. For me, having tools that make things convenient, like the 1xbet mobile app, helps me track bets, stay organized, and avoid making impulsive decisions. I try to balance having fun with knowing my limits, and I’ve noticed that being responsible actually makes the whole experience more enjoyable in the long run.