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VERY IMPORTANT! Protect yourself.
Any web site or service (even printed) offering free penny stock picks is almost certainly being paid to promote those companies.
The types of companies that need to pay a service to promote their stock are generally pretty lousy!
You may read a glowing report on some penny stock with a miracle, break-through, patented technology, but if their claims were really true, they wouldn't need to be paying some tout sheet to promote them.
There are many different penny stock picking services out there, so if you have decided to join one of them, here is what you need to know.
Do they have a professional research team, or do they just say they have a professional research team?
We have looked around. Besides ourselves, all the other services for penny stocks are just one-man (a few two-man) shows. Their backgrounds are not always in the financial industry! Don't trust your money to someone who treats the business as a hobby.
If the site is owned by the same guy doing the penny stock picks, he will never fire himself regardless of how bad he does. That is a tremendous disadvantage for you. A service like Peter Leeds Penny Stocks (yes, I am biased) has fired analysts in the past when they were not meeting the stringent performance requirements demanded by management.
Any 12 year old kid can put out a web site with penny stock picks nowadays. If you are a new investor, you may want to find a real service that will go that much further, providing you with ongoing e-mail guidance, learning articles, and handling your questions about penny stocks as they arise.
"Fire and Forget" newsletters comprise approximately 85% to 90% of the services out there. They say, "Buy these penny stocks" then you never hear about it again, especially if it does not perform well.
One of the best features of our service is the daily updates. Using new trading and corporate information, we update our site daily to give you the biggest penny stock advantage.
Many services focus on quantity in penny stocks, rather than quality. In fact, many people naively push the services to do so, wanting to get daily penny stock picks, or even several picks per day!
I pulled the following comment from the cliche closet: "You are only cheating yourself!" Want 15 picks a week? You are basically pressuring some person of questionable ability to come up with handfuls of ticker symbols, and you are sinking your money into them! This is not a profitable investment approach.
If you don't believe me, please go ahead right now and join a daily stock picking penny stock service. When you have come back in a few weeks, wiser and poorer, start reading again from this point.
Who has been getting the interviews and radio appearances, and quotes in the paper? No service more so than Peter Leeds, and there is a reason for that.
Unsolicited testimonials from people just like you are a great way to tell how happy people are with the service. The trick, of course, is knowing which are real and which were just made up to pad some guy's marketing for his questionable service. Don't believe the testimonials you see anywhere.
It would be a mistake to base your decision on a track record alone. Firstly, past performance has little to do with future performance, but you already knew that.
Secondly, many good gain numbers are not applicable, especially those related to pink sheet stocks, because you probably can't sell them to take the gains anyway. (OTC and pink sheet penny stocks are easy to buy and very hard to sell, even if they rise in price).
Thirdly, the numbers may be made up or tweaked by dishonest marketers. Yes, they do this.