Penny Stocks

I used to frequent PennyPicks Dot Com in the hayday, they seem pretty dead now. Does anyone know of a decent penny stock (OTC:BB) forum out there? They all seem to be pump and dump, which isn't all bad, just would like some honest discussion too.

 

I can do a search in my spam box if you want. Usually a couple of special tips in there

 

Hehehehe, no thanks, got plenty of "Hot Tips" lol.

 

yeah, I used to read penny stock boards too, now it just a spam pump and dump fest out there.

 

There was a fun site about recently that tracked all the penny stocks offered in Spam mail to see how they performed. Needless to say they didn't.

I can't remember the URL, maybe someone here does?

 

Penny stocks are pretty much pump and dump by definition, dunno if you'll find an "honest discussion" anywhere

In my experience, the only reason that people promote OTC stocks is because they own shares, and will sell them once they drive up the price by convincing people to buy them. Either that, or they're a paid promoter.

I would imagine you can make decent money by pumping stocks, but I seriously doubt there's any money to be made by investing in OTC companies.

There are really very few legit OTC companies in existence. It just doesn't make sense to be a public company unless you're legit enough for the Nasdaq or AmEx. If you're listed on the OTC, something's up =) With a very few exceptions.

 

Actually I made some decent turns back in the mid 90's, but then again, you could make money on any stock back then.

 

Trading penny stocks and OTCBB is very easy to do since tey are much more redundant than nasdaq stocks. Those who can't do it just call it pump and dump. I can make money 4/5 trades, usually in excess of 20 percent returns per trade. The main issue is liquidity. Getting out of a penny stock can be hard to do. Often you have to sell in small chunks over time.

I recommend these two sites:

otcbbtrader .com

barchart .com

 

What, exactly, does redundant mean, when talking stocks? That's a new term to me.

I'm not saying that making money off OTC stocks is impossible. I'm saying that the main way to make money off OTC stocks is convincing other people to buy the stock, then selling your shares (aka, pump, and dump).

 

It means that it follows a consistant pattern.

Nasdaq stocks have a greater tendancy to sell off when they innitially break out since they are affected more by outside events like news, oil, feds,

If an otc stock breaks out 30-100+% in one day on huge volume and remains reletivly flat throughout the first day of the breakout it tends to go up an additional 30-100% the second day. This pattern is very consistant. And this method is much esier to do than trying to peddle a stock.

 

teach me more, im interested.

 

Before every huge runup there is often a smaller runup that preceeds it months before.

For exmaple there was a small stock called ipix that went from $1 to $5 in April of 2003. For the following year is slowly corrected to $2.5 and the volume dropped. Then it broke out again in April 2004 a year later going to $25...

Wen ever a stock breaks out BIG on BIG volume keep note of it. And follow it every day as is consolidates. Then wait for a 'pop' and then buy there. This marks the end of the consolidation phase and the beggining of the next breakout phase.

 

what is OTCBB?

 

over the counter bulletin board

 

Hotstockmarket.com is a legitimate OTCBB discussion forum. Occasionally, a pump and dump is posted, but they are normally quickly exposed by the regular posters.

 

your website alfie?

 

No, HSM is not my website, I just read it a lot.

 

marketmillionaires.com is quite active.