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Author: Matt1344 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 267363  
Subject: Re: penny stocks Date: 11/10/2012 2:15 PM
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"Can anyone recommend a reputable penny stock site?"

Hi gym4141,

If your measure of a penny stock is something under a dollar then I own 16 at the present time. I think the Fool defines(-ed) as less than $5 which would bring my total to 26 at this time. I've owned many more, some were acquired, some I sold, some grew out of penny stock status such as Majestic Silver which hit into the upper $20 range, it is now at $23.69 Up 652.86% for me, my best buy returned over 3,000%, and 2 went bankrupt. It is high risk area and one needs a strong stomach at times ;-). I had maybe a half dozen gold companies before the 2008 crash and got hit hard, but then so did many others. I started buying more aggressively in the precious metals area at that time and got some bargains.

Those buys in late '08 and on carried my portfolio up over 300%. The miners have been hit again but I'm still well into the green and looking hard at adding to positions.

There are no guarantees. Don't jump in too quickly. Watch what countries the miners work in, there's lots of political risks. Governments tend to kill the golden goose.

Personally I figure the dollar will continue to loose value. The world paper currencies are mostly in a race to the bottom. Gotta devalue in order to sell to other countries. The US now has a voting constituency that can vote itself benefits from the government and politicians willing to give them those benefits in order to stay in office in my opinion, which may prove to be totally wrong. If you've read Ayn Rand's Atlas Shrugged then you know where I think we are in this country and where we're headed. Time will tell...

I don't make any recommendations. You have to do your own due diligence and beware in my area, gold, silver and uranium miners, many don't make it.

Some of my holdings are from the The Gold Report site: http://www.theaureport.com/

In uranium there's The Energy Report, a sister site: http://www.theenergyreport.com/

When companies are acquired by one of the bigger fish, that generally leads to management moving on to other ventures, if they've done well by me then I may buy into their next venture. Management can foul up even good locations... Like in any type of company some over promise and under deliver. In mining there are legitimate issues that can result in a bad quarter but too many such problems may mean its time to move on.

I mostly hang out on the Mining and Metals board and have picked up a some ideas from other posters there. You can also check out TMFSinchura on the Caps boards for mining ideas, that is if you're interested. IF you venture into this area I'd suggest you step lightly while you learn...

Take care, Ken (My holdings are listed in my profile)
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