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Originally Posted by jdubya
Whats are some of your strategies on these penny stocks? When do you guys sell? I`ve gained 27% on my IBIO......my VTVT is up 49% from when I bought......when do you guys say enough and sell off? 20%? 50% 75%? Just curious.... I have some others in oil and finance that I`m buying for the longer hold........just wondering what some of your strategies are on things more volatile like biotechs, etc
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I don't do penny stocks, but my regular stock strategy is to sell off 80 percent if I find myself up 20 percent in a year (to avoid short-term capital gains taxes). That's for my non-IRA investments. In the IRA accounts I'll sell off earlier if I'm up 20 percent, because I don't have to worry about taxes in those accounts.
In a penny stock I'd probably sell any time I got up 20 percent because I feel like those can crater pretty fast.