posted
If I may I'd like to recommend two excellent books on penny trading.
1.) "Microcap Investing" by Dan Holtzclaw($21.95) and 2.) "The Micro Cap Investor" by Richard Imperiale ($35.46)
The above prices are quoted on Amazon and you'll pay a few bucks more at your local bookstore. They are a treasure chest of valuable info that I found critical to trading pennies. Check them out.
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I agree - to a point. I only keep about 4% of my six figure portfolio in penny plays. And that is foucused mainly on shell stocks with a good potential to launch into orbit thru a R/M. I own scores of double/triple zero shells. One of them was LFZA of which I bought 1 mil. shares at .0005 around this time last year and put it on a shelf with all the rest. In October LFZA R/M'd and skyrocketed to .80 in a matter of weeks! (I sold half at .46 and half at .59). I will keep ~60% of it all after taxes. You do the math. That's no joke to me, bud...
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Good Post. beechwood and if you have a good shell to recomend send me a message I am always looking for good opertunities. I am currently holding CJCL and WNSH on the shelf.
-------------------- Must be an easier way! Disclaimer: Don't buy or sell on my advice I am not a licensed broker.
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Not just any penny, mind you. I'm talking specifically about shell plays looking to be aquired through a R/M. Those are the ONLY pennies I play and it worked well for me with LFZA. The rest are junk and not worth a second look. Check out www.shellsto_kreview.com for a good site on the subject. Registration is free and there's no "membership" to buy into later. Also check out IHub's list of upcoming R/M's. Go to IHub then keyords "reverse mergers". Bear in mind that some R/M plays do a R/S first. In that case wait until after the split to jump in. It's a good idea to call the company VP, CEO, or finance officer to get the scoop.
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Beechwood, I sent you a PM asking where you got your shell listings. Looks like we look at the same places. I am in METP a low floater
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