Currently I'm working on FRCP and just got in on AMHI after doing some research on them after hearing someone on this forum post it.

But anyways dont mind my mindless self promotion. First questions any stock broker will ask you are:

1. How much money you got or rather how much money are you willing to give them

2. How many trades do you make a month?

3. How long do you typically hold your positions?

If you have a couple grand to speculate with check out ERHC. It is priced right and with news you should do well, and expecting news soon (Which in Africa means sometime in next month).

It is oil company with ton of rights in west africa and I think it is solid play both long and short. Really believe it will be a multiple ten bagger if hold 4 or 5 years but should be 2 or 4 bagger before Christmas.

It does not have earnings now and nearly 100% of its value are in its rights. Check it out.

Sarah

I am more and more convinced if you are going to hold long term you must do good fundimental research. I am a huge Peter Lynch fan and his principles apply just fine to pennies especially if you buy over the 40, 50 cent stuff. Most people - including myself - get in trouble with pennies that they bought without doing proper DD (or in many cases any), or by getting in to much of a hurry. In 'real' stocks many people buy figuring their profits will take at least 2 or 3 years to come and maybe ten or fifteen. For many of us if a stock hasnt gone up 50% in 3 months than we chase another penny no matter how good the fundimentals are, and usually miss out on the increase.

There is nowhere easier to get the ten bagger than buying pennies and nearly only way you can hit a fifty or hundred bagger. So as Lynch says one 10 or 20 bagger and make your account look pretty even if you dont hit on some of the others. Special circumstance stocks like HLSH last year and ERHC this year can be especially lucrative.

If you havent done it read first,'One Up on Wallstreet' and later, 'Beating the Street', both by Peter Lynch. they will help whatever type of investing you do, and should encourage you too. Remember if you are right on even 50% or 60% of your picks you can do very well. Where else can you be wrong half the time and become moderatly wealthy over time?

Good luck, Terry

I will post this question on investing thread.

No I never got in and after no announcement friday I am scared off. This guy has been right on some before (not 100%)but obviously the info he had this time was not as good as he thought. His source said it was definate pr friday and let him read the pr according to what he messaged. This was not over boards but personnal and I do put some trust in him so timing may just be off. IMHO it is to risky at this point.

Glad you did well the other day but dont let a quick score like that change your style, or basic DD. They dont come very often.

Scottrade is great company but not for pennies under $1. I have Tradingdirect which is OK but has limitations I believe caused by the small size of the broker. Ameritrade is where eventually I will go. Not quite as cheap as a couple others but they execute orders well (which is my main concern) and are one of better penny brokers and can do canadian exchanges as well I believe, which TD can not.

Basically for most traders cheap trades are a luxery not a neccesity. I read of people changing from broker they like to save $5 a trade and only do 20-25 trades a year and laugh. Of course I usually do many more than that but still not worth going with risky broker to save even a grand a year. A .01 difference on a slow trade can cost you hundreds and has me from time to time.

Well have a good and profitable week. ERHC I believe is very close and just wish I had some more money to buy with at these prices.

I know you are investor in ERHC. Friend of mine knows someone connected with Noble. When asked about pr and ERHC's deal with Noble, this person had not heard of ERHC but stated the following after reading pr by Noble and ERHC pr stating joint development of block 4.
...Mr. ________ is not familiar with ERHC, but he said the Noble Energy has been very, very successful in these ventures - he thinks it (their investment in ERHC) would do very well.

Hang in there on this one. I and those that received this simple statement are more encouraged by this than any recent pr or anything written on the boards. They have known this person for many years and he is a friend of theirs. He did not give any insider info just his opinion but I dont want to take a chance on getting anyone in trouble so will not share more.

Sarah I know for many of us the wait has been very long for ERHC and normally I wouldnt share this type of thing on the board, only with Machivilli and a couple of others I have email contact with, but wanted to encourage you about it.
[This message has been edited by BigT1 (edited September 28, 2004).]