posted
I am trying to earn a substantial amount in order to pay for my son's college education. I don't have much money saved up at the moment, and even less to invest with. How would I got about finding these stocks trading for fractions of a penny that will soon rise to pennies? Thank you.
posted
e grand, if any of us knew the answer to that question, we would not be here. We's be in California on the coast, in out new house.
Posts: 215 | From: new york | Registered: Dec 2004
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quote:Originally posted by compound cash: e grand, if any of us knew the answer to that question, we would not be here. We's be in California on the coast, in out new house.
Haha, well that's true. I was just wondering where you guys get your micro penny stock picks from?
It takes blind luck to raise large amounts of capital quickly with little to invest. Most of these stocks fluctuate for many reasons and you have to have experience to trade and build portfolio value.
The best thing you can do if you wish to try pennies is to read everything you can about the penny market prior to investing even a single cent. There are many good books to start you on your way.
Pennies are like gambling, don't put into it what you can't afford to loose.
JMHO
-------------------- A day without dreams is just a nightmare! Posts: 1702 | From: Michigan | Registered: Oct 2003
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posted
if only it was that easy! don't risk your son's education on pennies, put it in some safe mutual fund or something. Would you consider taking your son's education money to the casino and putting it all on back at the roulette table? Yeah, with DD we should be able to increase our odds better than the casino, but not by much. There is no get rich quick scheme that really works, it all takes a lot of work, and you best get started by doing a crap load of research and invest with play money first. That is my opinion, not that I am an expert or anything, I am just learning all I can and greatly appreciate all the help and guidance provided by these "5 star" posters.
-------------------- Trying To Be ADaytrader > TT Bad Posts: 83 | From: Los Angeles | Registered: Dec 2004
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posted
To be honest, I haven't seen many .0001-2's that are going to make it this year like last year. Not to say that some want but there was so much dilution in the penny market in 2004 it was real bad. Real bad. MLON did it, I know, but few will and you must be lucky to find that one and not pick the many that won't. I think reading the board and doing extensive DD (research) on some pennies is the best way to start. But I think also you my want to check out the .001-.009 range instead of the lower price range. There are many in that range that look promising. I don't like to pick stocks for someone because of the risk at this level but this board has many to choose from. The way I started in this market was to put all of the pennies that everyone is talking about and ones I found on my own into a watch list. Look at there past charts. Research past PR's. Read what the bashers say with a grain of salt but there is some truth in what they say too. But always do your own dd and never let someone else tell you where to invest. And never use money you can't afford to lose. Everyone here want you to buy there stock because the more investor they can get in gives a better chance for there stock to go up. So watch out for the pump on the board, there are some self interest involved but all here have good intentions. Great bunch of folks on this board.
Ric
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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posted
Here s one to avoid at all cost, thats GMSV. Its a scam.
ththf has a great company but they love to dilute and there stock only seems to go down. USCI went out of business once and has reopened with 2 employee to try and sale there steam generators but failed to file what little paperwork that SEC requires of pinksheets and was temp. haulted once. Not sure if they have filed yet and may be shut down again. CMKX has somewhere around 800 billion O/S and refuse to tell shareholders what it is for sure. But most sub pennies in the .0001-.0002 are there for a reason. Actually the ones that took off last year were shells looking for a new businesses and once thay found it or was taken over the stock took off. Always research and it never hurts to ask questions.
Ric
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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quote:Originally posted by Ric: To be honest, I haven't seen many .0001-2's that are going to make it this year like last year. Not to say that some want but there was so much dilution in the penny market in 2004 it was real bad. Real bad. MLON did it, I know, but few will and you must be lucky to find that one and not pick the many that won't. I think reading the board and doing extensive DD (research) on some pennies is the best way to start. But I think also you my want to check out the .001-.009 range instead of the lower price range. There are many in that range that look promising. I don't like to pick stocks for someone because of the risk at this level but this board has many to choose from. The way I started in this market was to put all of the pennies that everyone is talking about and ones I found on my own into a watch list. Look at there past charts. Research past PR's. Read what the bashers say with a grain of salt but there is some truth in what they say too. But always do your own dd and never let someone else tell you where to invest. And never use money you can't afford to lose. Everyone here want you to buy there stock because the more investor they can get in gives a better chance for there stock to go up. So watch out for the pump on the board, there are some self interest involved but all here have good intentions. Great bunch of folks on this board.
posted
Egrand, I empathize with your situation, though mine is a bit different: I'm attempting to grow what money I have to, among other things, comfortably fund grad school. Of course, pennys (and esp. sub-pennys) are very risky - there is no failsafe statistically grounded method or something of the kind that ensures profits.
You have a few options, depending on your investment horizon (is your son 16 or 1.6 years old?). - Research more conservative investing opportunities, such as mutual funds/index funds (you'll find plenty of information all over the Internet). If you invest well, you should be able to grow your investment at roughly 10-12% per year (statistical average). If you need to grow your money quicker, you can invest in a riskier mutual fund, some of which can generate up to 40-80% growth in a year (though these are typically more aggressive and speculative funds). - If your son is much older, you might try investing in individual securities that have a price per share above 5.00 on the NYSE, NASDAQ, etc. If well researched, you may find a few securities in which you can invest with an excellent ratio of risk/reward. I would recommend this over an aggressive/speculative fund. If you decide to go this route, you might try learning how technical analysis (T/A) of charts, get familiar with how to interpet company fundamentals (e.g. balance sheet, price/earnings ratio, and so on) in order to gain some competency in actively pursuing profitable stocks. - If you want to go under 5.00, and particularly get into anything below .10, things become risky (esp. below .01), and, as previously mentioned, it takes some experience (or blind luck, which I wouldn't bank on) to make profitable trades with consistency. T/A and the like don't often apply here (though they do, at times and with some stocks more than others) - the market thrives on rumor, press releases, etc. Don't expect stocks to respond rationally if you attempt to trade on the OTCBB or Pink Sheets. In fact, you might expect to lose your money, instead.
Bottom line: several avenues you can go down, but don't do anything without educating yourself about the benefits and risks. Don't do anything rash, or you could end up with nothing (or worse if you take up shorting stocks). If you do decide to invest in pennies: 1) good luck, and 2) Read this board regularly. It isn't smart to invest in a stock without doing your own research (or DD: "Due Diligence"), but you can learn a great deal and learn about some excellent picks through others.
Hope this helps. I apologize if you're already familiar with some of this.
Andrew Unknown
Posts: 228 | From: Ohio | Registered: Jan 2005
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posted
Great advice, and although I am not saving for my son's college tuition (no children yet), I have been trying to find a few stocks that will make me a quick buck... Now I realize that I have to be more careful with the pink sheets, and I will invest much wiser because of this thread...
quote:Originally posted by RISKY: Great advice, and although I am not saving for my son's college tuition (no children yet), I have been trying to find a few stocks that will make me a quick buck... Now I realize that I have to be more careful with the pink sheets, and I will invest much wiser because of this thread...
Thanks!
Jorge
I agree wholeheartedly. Thank you all for your help. It is very much appreciated.
posted
Great advice, and although I am not saving for my son's college tuition (no children yet), I have been trying to find a few stocks that will make me a quick buck... Now I realize that I have to be more careful with the pink sheets, and I will invest much wiser because of this thread...
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