ok, so I'm new to investing but not new to hearing the lingo. From what I can tell 15% per year is a fantastic return and it's almost ridiculous to think of 30% per year gains. Anything about 10% moves into the "too-good to be true" range where experienced investors just laugh at the dreamers.
Here's my problem though. I like the idea of penny stocks. They fluctuate. It seems like they're super cheap and not reliable for long term investing but if a stock that costs 30 cents fluctuates between 26 and 31 cents every day, isn't that more than 15% percent return per day? Assuming the timing is right. Why isn't this more common, and as I test my theories, are there any common pitfalls in this strategy?