Monday, July 11, 2011 2:20:09 PM
The only ones that can make money with penny stocks are those who are "in the know" or are lucky enough to get into a junk stock before the the PPS is pushed higher by the latest promotion. Realistically 99% of these stocks are garbage, they move on hype, and hype alone with no real substance.
Yep I came around and realized there is a reason why these are listed as OTCBB and loosely regulated, they are a crap-shoot at best and should not be traded as an investment, only a gamble.
Remember there is always someone giving advice on these penny scams, claiming they know everything about the stock, the company, management, CEO's, filings, etc., that is why many of the OTC listings say Caveat emptor - "Let the buyer beware".
Cheers!
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
WARREN BUFFETT
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