Sunday, December 5, 2010

The Penny Stock Newsletters Have Been Pushing Out Real Turds Lately

I have an article on another site How to Make Money on Penny Stocks where I go on to explain how you might win, lose or draw on following the advice of certain penny stock newsletters. Well I'm signed up to so many of these things the only one that stands out to me by name is StockRoach because at least its got a picture of that little Roachie guy accompanying each of their picks. The others kind of all melt together in my mind - Penny Stock Finder, something-something-Penny Stocks, Micro Stock Yada Yada etc.

Well anyways this week they had one thing in common for sure - a love fest with SOPV.ob. If you timed the stock JUST RIGHT you had a chance to make some cash on the rise from 36 to 46 cents. They must have hired some hot IR woman or something over there to be that popular.

The rest of the picks were even worse. You either can't trade them with your broker or you can't get the stock at the opening bell even if you submitted your limit order at the ask. My order sits there open when the stock is supposedly trading at the same price I'm requesting then it shoots up 10% or more several minutes after my order was submitted with it not being filled. At least before these guys gave their followers a fighting chance at making some money. Now they literally just want 100% bagholders buying at the market price.

I'm still signed up to all the free services just to know what's out there, but really you're better off going with some paid service to learn how to trade YRCW or DRYS with some TA if you can't come up with your own picks rather than the free services right now. If you click those links to each stock it'll lead you to their fundamentals which are piss poor for the both of them so you don't want to be buying them because of their incredible financial prospects, just their TA when it's good.

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