Hi all I couldn't help being lured recently into an online "premium" service that charges a fee and gives you stock picks, but all of them are prices below one cent! I tried buying one of these stocks and I got booted by my broker. These people claim all their picks go up triple and quadruple digits percentages in weeks! What are these stocks (I think they are called pink sheet)? Why do they exist? How can a stocks price be 0.0001$? And does anyone out there use these stocks to trade?? thanks J
I encourage you to start taking responsibility for your own actions and decisions. With respect to your question, Google is your friend. - Spydertrader
Go to pinksheets.com to get further information on the stocks they list. They include solid stocks that aren't sold on U.S. exchanges (e.g. some European stocks), stocks that have been delisted due to low stock price or not meeting exchange reporting requirements, stocks that are on shaky financial ground and stocks that are pure scam.
That stockpicker you subscribed to is paid to promote the stocks you are told to buy. Pinksheets and OTC is the gutter of the markets where pump and dump and manipulation is the norm.
If you are still considering trading these stock market bastard children, you might want to take a look at the available volumes and then calculate how large of a size you would need to make a decent amount of money when it doubles/triples in value. Then, if you are still considering it, ask yourself who you will be selling your thousands and thousands of shares to after the stock has doubled/tripled. Cancel your subscription now and run far away. Do a google search on that LedBed kid to see how these OTC stocks get manipulated.
whats up with those .00001 shares??? just do not trade them! and don't ask for them. MarketWatch once had a list of the best performing investing newsletters. just do a Google search to find them. there's a reason why penny stocks are penny stocks. stay away from them you guy just read this book first http://www.amazon.com/Technical-Ana...=sr_1_1?ie=UTF8&s=books&qid=1262729785&sr=1-1 then trade again see ya
heh with penny stocks its always bid .01 x 300 ask .03 x 400000000000000000000000 yeah you will get filled quick on the ask since its deep but try to sell on the bid
Don't pay for any service without becoming self taught first. If becoming self-taught and you loose then do what you should have done the first time ... get the free research and study available and truly become self taught (within your style and learning curve) If you still lose ... then get out or persist. These stocks exist for various reasons: 1) Companies in their infancy 2) Corporate leadership in their infancy 3) Bad business 4) Bad luck business 5) Dreamers and scammers. The first two in the list above may have valuable gleanings. Might even find a visionary, emerging management, or revolutionary marketing, product or service in these two piles. There is great money to be made in Penny Stock and pinksheet stocks. It is considerably less likely to make money in pennies and pinks in this market however. Penny Stocks and Pink Sheets do considerably better when the broader market is very healthy and robust. Penny Stocks and Pink Sheet stocks need be thought of as table scraps of speculation. You see right now the Big Sharks and Big players are keeping their capital safe so the amount, quality and size of the "Table Scraps" are very poor. If the market gets robust the food chain begins to churn and fatness rolls down through the small cap into the micro-cap and into the pennies all the way to the pinks. In that market many many more speculators are roving for riskier and faster gains, and due to the increased feeding frenzy greater numbers of side-liners enter the market and greater numbers of the masses flood in causing real support for plausable speculation. If you look into those plays make one of your sorting criteria whether they are truly and significantly undervalued in comparative market price. If not ... then drop everyone off that pile except for revolutionary type companies with a real plan, product, system and management etc etc. If we hit 13000 watch for the spill-over into the riskier speculative plays. Even watch it at 12000 ... I know of several that are truly undervalued.