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Penny Stock Strategies
By Spencer Soros
Why should the rich guys have all the fun? The small investor can seek out huge returns too...if they know how.
Technical analysis that uses statistics for forecasting price fluctuations is one approach. However, because it is difficult to track changes in fractions of a penny, there simply isn’t enough data to be able to analyze. Therefore, you have to keep an ear to the ground when you trade penny stocks.
One of the biggest forces that drive penny stock prices is hype. Whether it’s online in discussion forums or chats, or offline with publicity and press, hype can cause swings in penny stock prices.
Are you looking to trade penny stocks to earn a good return on your money? Penny stocks can be profitable for some, but it can also be a money-losing experience.
What should you watch for when you trade penny stocks?
What are some strategies that professionals and amateurs use when dabbling in the penny stock trade?
One technique that some experts who trade penny stocks implement is to focus on a particular stock. Get to know the stock inside and out; that is, get to know the company behind the stock, any news about that company, and anything else that might affect the stock price. Target one stock, listen to the buzz, and see how the stock responds. The louder the buzz gets, the larger the potential for a big price swing.
Many people who trade penny stocks are small-time investors who don’t have more than $1,000 of investment capital. These people trade penny stocks because it gives them more shares for the money.
Where they might be able to buy dozens of shares in a major exchange such as the New York Stock Exchange, they can buy hundreds when they trade penny stocks. The potential for loss is big, however. It’s almost closer to gambling than investing. The money used is strictly risk capital. Once the money is gone, it’s gone.
Another subset of people that trade penny stocks are amateur investors
Canadian Dollar Climbs To 8-week High Against Greenback
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<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1414041" style="font-size:1.2em">Canadian Dollar Climbs To 8-week High Against Greenback</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">7 hours ago </span>
<div style="width:80%;">Crude oil for October delivery is currently trading at $75.72 per barrel on the New York Mercantile Exchange, up $1.05 from its previous close. Prices reached as high as $75.88 a barrel in the ...</div>
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Forex: USD/CAD decline extends to 1.0300, 3-week low
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<a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=c15ed965-303d-4bca-b228-8072580097cb" style="font-size:1.2em">Forex: USD/CAD decline extends to 1.0300, 3-week low</a>
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Canadian Dollar and Financial Outlook
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<a href="http://www.istockanalyst.com/mobile/viewarticle.aspx?articleid=4483947" style="font-size:1.2em">Canadian Dollar and Financial Outlook</a>
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<div style="width:80%;">Winnipeg, Sep. 9, 2010 (Resource News International) -- The Canadian dollar was trading stronger early Thursday - reaching three week highs - one day after the Bank of Canada pushed interest rates ...</div>
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Canadian Dollar May Appreciate Against USD
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<a href="http://www.dailyfx.com/forex/technical/ssi/usd-cad/2010/09/09/ssi_usd-cad.html" style="font-size:1.2em">Canadian Dollar May Appreciate Against USD</a>
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CAD/CHF Forming Possible Head and Shoulders
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Canadian Dollar Gains On BOC's Hawkish Comment
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PNC Bank Changes Canadian Dollar Prime Rate
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<a href="http://www.newswire.ca/en/releases/archive/September2010/08/c8189.html" style="font-size:1.2em">PNC Bank Changes Canadian Dollar Prime Rate</a>
<br> <span style="color:#888888;">Canada NewsWire</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">TORONTO, Sept. 8 /CNW/ -- PNC Bank Canada Branch announced an increase in its Canadian Dollar prime lending rate. The new rate of 3.00 percent is effective Sept. 9, 2010. PNC Bank Canada Branch is ...</div>
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| EXCHANGE RATE
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<a href="http://www.dailynews.lk/2010/09/09/ExchangeRate.asp" style="font-size:1.2em">| EXCHANGE RATE</a>
<br> <span style="color:#888888;">Ceylon Daily News</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">Exchange Rates on 08.09.2010 The average rates of the following currencies quoted by commercial banks in Colombo for Telegraphic Transfers (TT) at 9.30 am are as follows: Currency Buying Rate ...</div>
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Canadian Dollar Testing Fibonacci Level
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<a href="http://www.dailyfx.com/forex/technical/elliott_wave/usd-cad/2010/09/09/eliottWaves_usd-cad_1.html" style="font-size:1.2em">Canadian Dollar Testing Fibonacci Level</a>
<br> <span style="color:#888888;">Daily FX</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">The USDCAD continues to respect its summer range. The June, July, and August highs all occurred within several pips of 10680. A close look at the USDCAD rally from 10105 reveals that the advance ...</div>
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Canadian Dollar Steady Ahead Of August Ivey PMI Report
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<a href="http://www.rttnews.com/Content/CanadianNews.aspx?Node=B1&Id=1412636" style="font-size:1.2em">Canadian Dollar Steady Ahead Of August Ivey PMI Report</a>
<br> <span style="color:#888888;">RTT News</span> - <span style="white-space:nowrap">Sep 8, 2010 </span>
<div style="width:80%;">(RTTNews) - The Purchasing Management Association of Canada and the Richard Ivey School of Business will release the Purchasing Managers Index for August at 10:00 am ET. The headline figure is ...</div>
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who use the buy and hold strategy. They purchase a stock and retain it for long periods of time, hoping that the stock skyrockets at some point in the future.
Unfortunately, this strategy hardly ever pays off in the way that the investor had hoped. In the long-term, the stock could end up being completely worthless.
Trading penny stocks can be a profitable, and even fun way to invest. It certainly isn’t a traditional method of investing, and is unlike old standbys such as bonds and mutual funds. However, trading penny stocks isn’t for all people.
You should have a high tolerance for risk, a willingness to analyze every minutiae of your penny stock, and some intestinal fortitude. Have fun with penny stock trading, but don’t expect to stumble into the next WalMart for pennies on the dollar.
And remember, as with anything else in life with high potential for gain there is also high potential for loss. Do your homework, follow your rules, and plan to prosper. Article Source: http://www.ArticleJoe.com Spencer Soros believes in helping the small investor get the most bang for their buck. Why should the rich guys have all the fun? Discover why he considers penny stock investing one of the last frontiers for huge gains www.pennystockstrategies.com
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