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Predict Market Turning Points Using Fibonacci Analysis Top Ten Penny Stocks I don't need to tell you it has been a rough ride on the big boards these past few weeks. Of note, most of my penny stock portfolio has been immune to the significant losses seen in the DOW and S&P averages. For example, several weeks ago the Tribune News company was knocked off the New York Stock Exchange when its stock dropped below one dollar per share. It was moved the the OTCBB under symbol TRBCQ. Within the week it dropped to 22 cents per share, and then recovered to $3.40 per share last week. Its current price may not represent a good trading opportunity, but for those who loaded the boat at 22 cents, selling anywhere in the $3 range represented a solid profit. These are the kind of trade opportunities penny stock traders look for. This is not to say penny stocks are safer than blue chip stocks. Generally they are not. However, penny stocks operate in such a microcosm of the overall market, that factors influencing the big board generally do not apply to this market. Do your research, and look for stocks that represent growth opportunities. PINR, CBAY I'm focusing my effort on Pine Ridge holdings this week. Visit Investors Hub Forum for complete details. For up to the minute stock updates, and access to breaking news on penny stocks, register for free at Wallst.net. Here's the link: Sign Up For Free Wall Street News
Keep in mind, just because I mention a stock here does not mean it will respond the way we may allhope. Stocks rarely do. My mention of a stock is based on trends I have noted in online chatter, and you objective research and evaluation of a specific trade is essential for your success.
A stock I continue to find interesting is PINR. Pine Ridge Holding has implemented an interesting website (http://www.servenation.com) to market their brand name gift cards. This website allows non-profit organizations to sell gift cards through the servenation website. Looks like an easy way to raise funds for these charity organizations. PINR set an orignal goal back on 2 July to get 500 organizations signed up on its website by 1 Novemeber. It is now late July and PINR has over 660 organizations sIgned up to sell their gift cards. This could be a cash maker. If you're looking for a high risk play that could possibly double very soon, take a look at MONA. MONA is an interesting play. They are currently involved in a planned merger with an Interet television service company in China. Current prices for MONA make this attractive to the speculator, but again, research this trade thoroughly before jumping in.
Again, do your own due diligence. Also, I am long on HCPC so my opinion may be biased.
I like to use Pinksheets as my primary source of stock information. From there I move to OTCBB.com and then various stock chat boards.
Top Ten Penny Stocks Requested Searches Leading the boards in searches suggests people are curious about a specific stock. Thi slevel of interest could suggest a potential breakout. But again, chatter and curiosity does not necessarily mean these are good trades. I’m hedging my bets here because it is essential that you research these stocks prior to making a trade. Two of my favorite places to get official info is otcbb.com and pinksheets.com. PRMO, HTOG, LJPC, GCOG, FMNJ, SIVC, ASVN, MOBL
Top Ten Penny Stocks Merger Talk Okay, we all know that talk of mergers means potential volume, with possible upside potential. However, be advised that in the penny markets, reverse mergers and reverse splits are popular ways for companies to create strategic alliances and/or raise capital. Sometimes this comes at price born by the investor. Do your due diligence. PWFF, CLSP, MGRN, GOIG
Peter Leeds advice: “Look for penny stocks that are well run, have low debt loads, and tons of upside potential.”
Penny stocks are volatile in nature, and what is popular today, may be completely off the radar tomorrow. Read my cautionary notes below prior to trading in the penny stock market.
Penny Stock Investing Commentary Over the past two years I have successfully played the penny stock market by moving in and out of penny stocks fairly quickly. I use both a day trading, and momentum playing strategy. One thing I have learned is that penny stocks are very sensitive to news. A good press release can cause a penny stock to explode in price. Of course, the reverse also applies. There’s nothing like news about a pending reverse split, or a 10-K that documents dilution, to destroy a penny stock’s share price. Internet chatter on various chat boards like I-Hub and HSM generally reflects movement in a penny stock’s share price. Note, this movement may be up or down. Keep in mind also, chatters will both pump and bash a stock, so take all posts with a bit of skepticism. Do your own research on a stock, and don’t rely solely on what other people are saying. Chat rooms are a great place to get trade ideas, but they are not the final solution to your penny stock research. Research these stocks on pinksheets.com and otcbb.com before trading.
Disclaimer: Stocks mentioned here carry my own personal opinion, and are posted only for the purposes of research and due diligence. Please do your own research or consult a registered advisor or licensed stock broker before pushing the buy/sell button.
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