Information Is Profit

Seek out reputable information sources on the penny stock market and research these sources thoroughly. You want to know ahead of time whom you’re listening to and what kind of track record they have. Note that supposedly unbiased reviews of Internet sites and newsletters can also be fraudulent. Not only do penny-stock companies pay for positive coverage by analysts, penny-stock promoters often pay for good reviews by their own customers or deceive you by using aliases and false screen names.

Trading Caveats

Getting In

Scope out penny stocks that are getting initial coverage in the information sources you’re using. You’re looking for alerts on stocks that are about to get pumped by brokers and/or financial advisers. When they target a stock, their goal is to inspire a buying wave among ordinary traders (like you). They do this by enthusing about a company’s breakthrough, revolutionary product — whether it’s an amazing new health supplement, magically useful software or a high-tech mousetrap. Get the stock symbol, then check the stock’s recent price chart through your brokerage account. If the stock starts to rise, climb aboard. Be aware that promoters usually buy the stock well before they send out an alert — they’re hunting for a quick payout, and you’re the target.

Edge-of-Your-Seat Trading

References

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