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Hi Humphres,
First let me say it might be easier and less painful to just
burn your money than trade penny stocks. They are fraught with thin
liquidity, huge spreads, manipulation and out and out fraud. Never, never,
never trade a penny stock based on someone else's recommendation, especially
from the Internet chat rooms.
With that said, try The Bowser Report. He has been around for a
number of years and is very honest. He has a strategy of diversifying a
portfolio of 18 to 20 penny stocks because, as he will tell you, most will
be duds. You will need to buy 100 shares of each a avg. $3/share so count
on spending $5-6000 min. to create this portfolio. Further this should be
RISK CAPITAL and not more than 10% of your total portfolio (less would be
even better). Also, commission costs can eat you alive. Most brokers will
not allow Internet trading in penny stocks so shop for a low cost broker.
Getting quotes may also be a problem.
By way of disclosure, I subscribed to The Bowser Report about
5-6 years ago, but did not make any trades, electing instead to trade
options on larger stocks and indices. I am not connected with them in any
way. Hope this helps.
Good luck and good trading,
Ray Raffurty
-----Original Message-----
From: Humphrey D Geiseb <okombahe@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, November 29, 1998 8:42 AM
Subject: help - Penny Stock Selection
>
>RT Land,
>
>I am looking for books/advice/website/info on selecting tickers,
>stocks under $1. particularly info that has tips on speculating
>within this range.
>
>
>_________________________________________________________
>DO YOU YAHOO!?
>Get your free @yahoo.com address at http://mail.yahoo.com
>
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