I'm not gonna deny that penny stocks can be incredibly dangerous, they look great because of the number of shares you can buy, but they can hurt. I wouldn't suggest anything that low, because there is probably some reason that it is trading that low. That said, what I'd say about your search for penny stocks is to look in the "Let's Talk Stocks" forum. There is a post entitled "13 stock picks by MSN" or something like that. I believe bobjitsu started it. There is a link on that page that can get you to a handy tool where you can search for those stocks.
Let me say this about Penny Stocks: everyone is fascinated with them when they first start investing. When you have limited money, you look for bargains. As time marches on you wouldn't touch them with a ten foot pole. The reason Warren Buffett made so much money (one of the reasons) is that he HATED to lose capital with a passion. It is very easy to lose capital in Penny Stocks, especially the ones touted on the WWW. Stick to stocks in quality companies and avoid the urge to "get a bargain".
if i was u which im not offcourse i would take a guaranteed 500 bucks than gambles it for 600 or 501$... i like safety.. just comfort of trading i guess... chahine
quite honestly due to my small capital i cant invest in stocks that are over $15 without only getting 50 shares or so. And therfore even if it goes up $10!! i only make 500.....
in my case, penny stocks are the most attractive. I invest 100 bucks in a .01 stock..... Worst to come i lose my 100 bucks, i dont live on the street.... i dont have to support myselff im playin the market to be able to buy a car when i turn 16. Yes, if i act that 100 bucks is nothing i wont get very far but my stock goes up .01 i double my money. thats my point they may be not as intrugiung to you "old" guys
[quote:4d65811aa3="ozzy33"]in my case, penny stocks are the most attractive. I invest 100 bucks in a .01 stock..... [color=red:4d65811aa3]Worst to come i lose my 100 bucks,[/color:4d65811aa3] i dont live on the street.... i dont have to support myselff im playin the market to be able to buy a car when i turn 16. Yes, if i act that 100 bucks is nothing i wont get very far but my stock goes up .01 i double my money. thats my point they may be not as intrugiung to you "old" guys[/quote:4d65811aa3] And how is that good investing? Having even a 10% chance of losing ALL of your capital doesn't seem too smart.
agree bobi .. if its 100$ or 1$ the real challenge in investing is to find companies and trade in such a manner that 100$ becomes times 10,100 or even 1000 in a timely manner. that cannot be done by taughtless thinking and investing strategy. Buffett didn't become super rich because of these kind of strategies. He wanted to achieve it the hard way and in a well taught manner. chahine
...if you are trying to get money just for a car, you can get a job to pay for that. Investing small amounts in great companies will be better long term. If they pay out dividends and split a time or two, they can amass great wealth. Sort of like a tree.. It takes some time to mature. Once the "tree" has been growing for a number of years, it provides shade and comfort. Same thing goes for truly great stocks. They pay off in due time. Penny stocks are like "bushes" Beware of them, because sometimes there are "thorns" beneath the surface! Nice to meet you :)
Until you understand that stock prices aren't real and that no stock is "cheap" you're destined to have trouble. People have to stop buying stocks and start buying companies.
nice first rule of benjamin graham!!!!! chahine
Yes, i would like to get a job, but being 14, my dad wants me to focus on school work and says he will pay for college and a car if i do really well but i doubt that will happen