I know...I know...there's no such thing as picking winners all the time---or maybe even MOST of the time. But has anyone come up with a SIMPLE way to find winning "pennies" even 1/4 or 1/3 of the time? Can you give me specific picks you've made, and when, so I can check the history?
There is no simple consistent way of making money on penny stocks even 1/4 of the time. In general, most experts feel you will do better on average investing in a diversified portfolio of non-penny stocks.
There is a lot of luck in penny stocks, so you will find a lot of people that have a run of good luck, and get 1 or 2 penny stocks that do well. They then start bragging to all their friends and relatives about how much skill they have picking penny stocks (when it was really just luck). They rarely mention the penny stocks they lost money on. They get on the Internet and act like they are experts. You will also find a good number of scam artists on the Internet who pretend they are penny stock experts for the purpose of ripping you off.
The best idea is to pick stocks by the company. Six Flags Inc (SIXFQ) is a penny stock (OTC BB Exchange) http://moneycentral.msn.com/detail/stock…
Six Flags, Inc. (Six Flags) is a regional theme park operator in the world. The Company owns or operates 20 parks, including 18 operating domestic parks, one park in Mexico and one park in Canada. The Company holds long-term licenses for theme park usage throughout the United States (except the Las Vegas metropolitan area), Canada, Mexico and other countries of certain Warner Bros. and DC Comics characters. These characters include Bugs Bunny, Daffy Duck, Tweety Bird, Yosemite Sam, Batman, Superman and others. In addition, it has certain rights to use the Hanna-Barbera and Cartoon Network characters, including Yogi Bear, Scooby-Doo and The Flintstones. The Company’s theme parks offer a family-oriented entertainment experience. Six Flags theme parks offer a selection of thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues and retail outlets.