The Upper Hand For Penny Stock Traders
This is a great technique that I once obtained from a fantastic investor that I recently met. He has given me many ideas, but this one was one of the simplest ideas that I had never even considered until today.
If you’re looking to get on top of what’s happening with a certain stock that you are thinking about investing in, what you may not know is that local magazines, newspapers and even local blogs contain information that is very valuable on companies. And would you believe it comes out days before anyone knows about it.
This can give you the advantage on knowing about a key development of a particular company. Before the general public knows about it, you can realize what it’s going to do. It’s actually easier with penny stocks than it is with the larger stocks, because smaller companies aren’t promoted or advertised as much, so often you can beat most major news outlets to the punch.
A buddy of mine used this technique on satellite radio to make a killing a few months back. This is not the best example because satellite radio is a very well known, however if you remember back in February when they were considering bankruptcy options, their stock price plummeted.
He was able to find a local newspaper that was reporting an early story of the possibility of the company getting a large funding of cash in the amount over 200 million. After doing his research and confirming the story,he instantly purchased as many shares as he could afford at the rock-bottom price of $0.08 per share.
Shortly there after, that news was confirmed and reported by all the major news outlets. And within a month, he’d sold all his all his shares at $0.35 per share, for a 337% gain in under 30 days!
If you want to try this technique, first visit the yahoo finance main page and enter the stock symbol for the company you’re researching. Then click on the company profile. It should list the company’s home town on the main page.
Then start looking for small newspapers in your company’s home town.
When you find one of the sites, search the company on the main page of the website. You may find some interesting local interest stories that relate to the health of that company, and could possibly allow you to profit from it in the future.
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About the Author:
Always on the search for products to make your life easier, Art Tupaczewski relates with his own life experiences and his acquired knowledge of certain select aspects of life to bring to you safe, sound advice. Sick of scams and so-called cure-alls, he goes the extra mile to find out exactly what you need to know. Want to learn more? Come see us at http://www.stockpickspennystocks.com for information about penny stocks
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