Penny stocks are not a sustainable investment option. The only pennies that will win you anything will be ones that you ferret out yourself that take off a little then get bought by a bigger company. You won't find the next RIMM, or AAPL or GOOG because that's what you're looking for. Don't look for what's already happened, you have to find something new. That being said, pennies regardless are a waste of time. They are a self fulfilling prophecy. A company may even have a legitimate business, but as soon as the pump and dumps get a hold of them all they will do is jump, drop and die.
If you want high risk speculation that isn't so shady look to forex or futures trading. Leverage is a wonderful thing (investing a lot with a little).
Other than that day trading regular stocks is really not worth it. For instance the guy with the FB trade that "gained 120 dollars". Risking $18,000 to get excited over .6% is a losing game. Sure if you can do it every day that's great, that's the dream, but you won't do it. You might do it today, and tomorrow and maybe FB rallies three days in a row. By monday you might be thinking this is a long term gain. But little do you know that the after market movers on the weekend caused a dip in price to below what it was before you started. Now you've wasted all that time and effort trying to guess and wheedle the minor dips and rallies.
As a game pennies and day trading are a fun way to see "what if" but be careful if you try to apply the same ideas to real life.
/GC - gold futures seems to be showing a decline ($100.00/1.00/ounce/contract)
/NG - natural gas seems to be on the rise
/ZB - 30 year t-bonds could go either way if you want a couple days of rollercoaster action
grain futures are 3 times what they were 2 years ago and could be dropping off that peak.
If RIMM dips below 5.00/share that could be a decent winner, I don't think its a good buy right now.
FLWS is a fairly volatile stock if you can get a feel for what channel to trade within
Penny stock horror stories (or awesomeness depending on when you bought and sold)
TAGG <---could be the newest major player. careful here
just look at those charts to see how much money you could maybe make and how much you most assuredly would lose.