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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 694.04+0.7%Jan 9 4:00 PM EST
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To: Chip McVickar who wrote (65894)11/17/2014 12:18:23 PM
From: Lazarus  Read Replies (2) of 221579
 
it shouldn't
That doesn't change my opinion on penny stocks... and pump and dump scams and their schemesJust my opinion... fwiw
My experience is that the majority of penny stocks are turds.

I pour over oodles and skoodles of balance sheets and most of them are upside down pigs --- with a trail of blood and mayhem a mile long: hideous stock structures shackled to convertible debentures; multiple name changes; reverse splits.

The vast majority will never be, at best, nothing more than a crappy penny stock, at worst, be delisted altogether.

I would liken what I do to hunting for those rare finds.... like finding a wedding ring in the sewage line. Its not supposed to be there.... BUT SHIT HAPPENS....and every now and then a jewel is found

I try to find one or two per year.... and sometimes dont find ANY. Its like searching for the Atocha -- you know its out there... but finding it is another story.

Here is an example of the kind of stock I look for and accumulate:

PCYN: website here: procyoncorp.com

Notes from their last Q:

Book value ~ .29
Adequate cash reserves
Very low debt.
Great stock structure with no dilution -- only around 8 million shares os
Decent products

Amerigel Website

In business since 1996

I believe I currently have a bid in for this stock... I say "believe" because I know I did have a GTC order in in one of my accounts but would have to go to the account to check on it and see if its expired.

Now if you look at this company objectively I dont think there is anything negative you can say about it other than the fact that sales are slightly down. They are beyond "development stage" in that they actually do have a product and generate real sales dollars.

They've been in business nearly 20 years. Its the kind of company that just needs to get some traction... sales need to increase (or maybe someone buys them out) If that happens the stock will eventually go up. For me its a waiting game... buy on the cheap.... and WAIT.

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