Stocks Up What to Do Next?

Stocks seem to be going up and up. I’m getting a little concerned… I’m in a dilemma do I take my profits or let the stocks ride? So far I’m letting them ride and it seems to be working. Last week I was getting discouraged because I’ve racked up about $700 in trading fees. I e-mailed Ameritade and they gave me $100 or 10 free trades. I’m up 98% for the year!

Mobile Phone Industry

One thing I’m discovering is ANYTHING having to do with the mobile phone industry is hot… look at these stocks I invested in… according to the rating agencies they are junk, but they keep going up and up. Check out CAMP up from .60 to almost 3 in 6 months. I sold CAMP a couple weeks ago, it had a good run. Look at EFJI up from .70 to over 1.30 in just 3 months. There is a lot of money buying baskets of stocks in the mobile industry stocks. I don’t know if these small cap or penny stocks will be a good buy going forward, but small cap seems to be where it’s at. Once again this kind of speculation should only make up a very small percentage of your portfolio. 10%-20%. The reason you never hear about buying penny stocks or stocks under $5 on the news is because it’s highly risky. There is profits to be made… for example I had one penny stock go up 100% in one day, but they also can drop like a stone. For this reason you will never hear this kind of information on TV (CNBC).

Useful Video on Investing in Your 20s

I found this video on YouTube produced by TheStreet.com that said the only stocks you should invest in your 20s is penny stocks… that’s very bold advice. Keep in mind this is before the stock market crash. Check out the video here, it gives some good advice and inspiration. I wouldn’t give this advice, but I’m not a hedge fund manager either.