I sold a fair amount of precious metals this Spring to try a little gold stock and other investing. I wish I had stayed in the metals. Two of my stocks, GNXP and PBEC have cratered since purchasing them and yet hope springs eternal, while the gold and silver have come back up. Anyone have a recommendation for sites that trade advice on penny stocks? Zero Hedge does have forums, but not really of an advice nature. Thanks, Tom.
Penny stocks generally are not investments. Just remember that you don't have to try to recover your losses by doing the same thing that created the losses in the first place.
The craps table offers better odds. Plus, you can have a little fun while you are losing your money playing craps.
I don't do penny stocks, sorry man. Too easily manipulated and too little public information. I buy NYSE traded issues usually.
And put a shredder near the front door to put those special reports in immediately. It is odd, how those 2 stocks have similar MO and events. Both appeared in release about the same time and the price jumped from about 40 cents to 1.20, and now back to 40 cents. It is about time for them to push again ( maybe around the first), but they look bad. If you haven't sold yet, maybe you would want to wait until after the next "Elite Report" and recoup some of your losses, as the primaries still have to much stock to pass on to unsuspecting, and will be sure to try again, unless SEC starts watching closer. CNXP is called an exploration company, but I can find any money in the last 3 yrs SEC reports that went to that, all went to sales and administrative it appears. They issue reports , but not much in the ground, IMO. PBEC seems to have failed previously and emerged with another name and "refocused" on green energy, again hard to get any idea as to what their goal really is besides harvesting money. The largest possible "legit" investor in either is 5,000 worth. Very bad signs. AIMO, Jim
It looks like there is a hearing today in Ottawa on the Pacific Blue company--this may have a big effect on the stock. How do you know that the largest investor is in it for $5000? Any sites for penny stock advice? My Scottrade broker will not give any advice. I kind of wonder if they are making money beyond the tiny fees they get from their discount priced trades.
Scottrade will not give you advice on these types of stocks since they are too easily manipulated and Scottrade is worried about lawsuits. These stocks are used in the "pump and dump" schemes. I have 10 years experience in either studying graduate level finance or teaching it, and I would never touch these issues unless I knew the company personally. Short of that, its like buying a lottery ticket knowing that most of the winning tickets have already been scratched by the clerk behind the counter. Why bother? There is plenty of risk and reward buying NYSE or NASDAQ stocks, and at least you have a lot more security buying those.
So at what point would you exit these two stocks--GNXP and PBEC? I am in to the latter for around $6K and the former for several times that. My guess is that GNXP will rally when they get concrete news on the lab results and PBEC will come back up when the current investigation blows over, unless it drags on.
I don't know really what to tell you. I would be happy getting out with my original investment if you can. I do not follow those so cannot really help you devise an exit point. Maybe DesertGem can. Right now I think is a pretty good time to be buying regular stocks. This mini dip to me has created great buying opportunities. With silver near $20 I will be selling some of that to pursue them. That is just me though, your mileage may vary, etc.
Penny stocks are fun! I used to play the stock market game and currently own 500 share of a company with the stock less than a penny.
GNXP is insolvent and will have to do another stock offering to survive. PBEC just did one. Neither company should ever have been bought in my opinion. I would sell all and start all over again. Waiting to get even on these two could easily result in a complete loss.
everybody that I know that has bought penny stocks have lost money (one woman i know bought $10,000 worth of a penny stock ... her investment is down to $40 (and she still owns the stock!))
