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Question: Best website for penny stock picks?

(Posted by: on 2011-11-09 09:43:56)

I know penny stocks are risky but I want to hear ppl who do penny stocks and want to know how you do yourself for some insight on this whole penny stock investment

Posted by: Common Sense on 2011-11-09, 09:57:26

There is no form of reliable Penny Stock news. Information on penny stocks should always be suspect. They aren't called "Story Stocks " for no reason! The keys to be successful in Penny Stocks are; 1) Only trade highly liquid stocks. If your Penny Stock trades at $4 a share.... I'd like to make sure the average daily volume is over 600,000 shares. Obviously, the lower the price the more share volume you need to see. Don't be victim to an easy purchase but hard to sell. 2) Determine the trend. Only trade the trend. 3) Be highly skilled at risk management. If you're not..... you're just gambling. 4) Use your brokers software to find stocks below $5 with high volume & higher than normal volume (plus any other criteria you think is important). 5) Be realistic with your stops & always honor them. I trade penny stocks on a rare occasion. Mostly for fun. When I want to trade to make money I do stocks over $20..... just easier & certainly as a whole.... much more profitable (over the long haul).

Posted by: Ryan M on 2011-11-09, 09:47:02

Only two types of people invest in penny stocks fools and EXTREMELY elite investors. Those elite investors do not run websites, therefore you are only left with the fools to run these websites. Penny stocks ARE NOT risky...regular stocks are risky. Those are sucker bets. Please research pump and dump schemes.

Posted by: JoeyV on 2011-11-09, 09:47:54

Anything on the web discussing penny stocks is just pump and dump or similar schemes. Penny stocks just aren't an investment; they are almost 100% scam (although it depends on your definition of penny stock - there are some <$5 stocks that I think are risky but reasonable plays). Do yourself a favor and find anything other than this to invest in. Buy silver bullion on eBay, for instance.

Posted by: Len on 2011-11-09, 09:48:53

I do a mix of pennies as well as substantial (expensive) stock picks. My major penny is HDY and my most expensive pick is BPT which has been running in the $109/ share range. HDY is around $4.50 today but this is lower than has been the case---partly due to the Italian crisis on top of already undergoing Eurozone issues. There is no good site for pennies as they are filled with shills who get paid to lure you into their schemes. It would be a huge mistake to align with those sites purporting to be informational when, in fact, they are fronts for organized manipulation. Better to get with seasoned pros who can guide you. I'd offer to be of help but already counsel a group and can't take on others. Len

Posted by: underexposed... on 2011-11-09, 10:28:22

Websites that promote penny stocks are usually paid by the company in question to promote their stock. The payment is usually in the form of free shares so there is an incentive for these websites to promote them heavily and dump the shares for a profit. There are day-traders that are very good at playing these short term (often 1-2 hour) events but other than that no one makes money and most lose. You will not get good info from these websites if you want to hold a penny for more than 2-3 days and often their info is totally useless period. Their info is designed to generate short term excitement so they can dump their free stock.