Penny stocks that bad?I know stock gumshoe is full of smart and savvy investors. I keep coming back to this site as one of the true safe and intelligent websites not trying to scam or take people’s money.
On that note, I know a lot of people don’t like the idea of trading penny stocks and there was a similar post on a guy asking about a specific company.
I’m curious if people really think penny stocks are that bad and if all the people touting them (Tim Sykes, Jason Bond, Picks that make cents, and all the other ones) are really that bad? I saw falconstocks from this site and had great reviews and was wondering if that was worth it. It’s 145 for 2 years and they say they have great success?
If that’s the case, does anyone actually recommend other places for stock picks that are good beyond stock gumshoe? Is that just a bad idea/question?
Most of my money is with a financial advisor (which I’m sure most people would disagree with also) but it’s because I didn’t really want to have to worry and reallocate and trade all the time. However, I keep getting the bug to try to trade some myself so I have some set aside that I would like to play and trade with.
Any thoughts would be helpful!
– A new lifetime irregular
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You know Penny stocks and scams go hand in hand. I do invest in some penny stocks. Big risk — big reward. It takes the place of going to the casino. I’ve been burned a couple of times. Now the only person I trust for penny stock advice is Myron Martin. And I think he would say don’t trust him. After a few years of looking around, I now take 90% of my investing advice from this site and Seeking Alpha. I don’t think you can buy investing success. If you invest in penny stocks one site you need to use is Pumps and Dumps. Good luck and caveat emptor!
Thanks for the comments. I’ve checked out pumps and dumps and liked that. I really like this site also and haven’t checked out Myron really yet. I like the idea of the big risk for small portion, so have been looking at penny stocks, momentum trades, or swing trading and just wonder what people think is the best way to go about doing so.
Thanks for the good luck and hope so for you too!
Sharesleuth.com is also a useful site for penny stock enthusiasts.
This comment is a bit late (ya think?) but I do like the Falconstocks website.
What most think of as penny stocks, fly-by-night, $0.10 stock price, no revenues or profits, P.O. Box for a headquarters, etc… That’s NOT what they and a few other sites do (I like RCstocks too but that was a while ago). The stocks from falcon are almost all listed on the top three exchanges (NY/AM/Nasdaq). Their stocks are actual companies with revs, profits, etc… they’re just cheap as far as cost per share goes. I’ve never seen a 10 cent stock pick there. Seem to be in the $1.00-$4.00 range usually with plenty of volume. It’s more like real research picks but smaller price tags so they can move faster. I’ve seen some of the Sykes and others websites – be cautious – they like the low liquidity stuff to get a pump – and they can OWN the stocks (and probably are selling when telling you to buy). That Syke guy looks like a used car salesman anyway doesn’t he? Not sure I’d trust him walking my dog. That’s not meaning his stuff isn’t great, just that mug of his screams used car / timeshare salesman.