I spent a lot of time reading up on penny stocks last night, I've dabbled in them but this week is my first serious buying. I have learned a lot, but still have a ways to go. I have been finding some picks by following the mods on this one around. Others from watching PR's.
This is the tough way to learn (no joke). Find people who are intelligent while making good arguments. Also, read!!! There is no substitute for knowledge when playing the market. Study the intro level books and learn the vocab. After that, get onto charting. Arm yourself with "how" all this crap works -- that is CRITICAL to success.