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the new kid

out_of_the_blue said: "I'm interested in how people choose what companies to look at- industry, region or just all mouth-to-ear reccomendations? how do you know the winners when you see them?"

out_of_the_blue said: "where is a good place to find out about penny stock and otcbb ivestments?"

thezster said: "[QUOTE=out_of_the_blue]where is a good place to find out about penny stock and otcbb ivestments?[/QUOTE] This forum will not be of much help to you in that regard. We make it a practice to not talk about penny stocks. That's not investing - it's gambling...."

bigmike said: "Well investing is still gambling, but what Z is trying to say is that it would be playing poker and betting without ever looking at your hand."

Harry said: "[QUOTE=out_of_the_blue]I'm interested in how people choose what companies to look at- industry, region or just all mouth-to-ear reccomendations? how do you know the winners when you see them?[/QUOTE] Winners? Winners= Constant or futre earners. Not all earners stocks go up though...some sectors get bogged down. TM is a winning stock to me, but tightened lending standards could put an icey hand on the auto industry. ...more specifically sectors. [B]Oid Drillers[/B]...I own RDC. There are many other such as HAL, RIG... If figure that the demand of oil can only increase while sources become smaller. the drillers are sitting in a good spot for contunued growth. Even if a surge of every alternative enegy out there revs-up oil will remain an staple. [B]Gasoline refiners[/B] are a good place to be. VLO being my favorite...I don't own any more though. It's the one that got away. The "driving season" is half over". This stock is probably near it's high barring stock surges due hurricanes. I'll probably buy back into VLO after the hurricane season when I see a comfortable low in the stock. Penny stocks are crap. Institutional buyer generally aren't there. One mo-mo individual can buy heavily into the stock and pump up the price while other's chase it, then mo-mo sells and everyone else loses."

Rickster said: "I'll just keep saying it. You have to have an edge to win. In stocks, that means you have to have an insght others dont have. So, look in the areas you have an information or insight advantage. If you only look at the information everyone else is looking at, you can expect to have the same luck as everyone else. I'll give you an example. I was working near Pittsburgh, Pa in 2003. Steel mills had been in the dumps for a long time and their stocks were at give away prices. I started hearing on the local news that mills were hiring. The national news didnt carry the stories. I had an advantage. I thought about checking on the stocks, but didnt. Huge mistake. Take a look at what I missed out on. [url]http://finance.yahoo.com/q/bc?s=ATI&t=my[/url] ATI was less than $3 in 2003. Now is at about $116."

Corey said: "The real question, Rickster, is would you have had the balls to hold that long if you did buy? God knows I wouldn't have. I would have sold at $6!"

thezster said: "Rickster's story is absolutely, positively a lesson to be learned. It's the day to day things going on around you that should turn you on to a stock - or let you know when to get out. There is a chain of events that runs along the lines of: You notice things..... the media notices things... the market notices things..... and prices move accordingly. If you've got the intuition to get in before the media notices things.... You'll do well! (Hot dog vendor at HD ring a bell??)"

Rickster said: "[QUOTE=Corey]The real question, Rickster, is would you have had the balls to hold that long if you did buy? God knows I wouldn't have. I would have sold at $6![/QUOTE] Good question Cory. Most people focus on the buying aspect. Those with experience know that the money is made in sellling at the right time. I would still be holding ATI. I would have held as long as I was still in the area and could have monitored the local indicators. Since I left there, I found out that ATI has a competitive advantage in some of their alloys. I would have monitored the company through some buyer friends. I would hold until something changed, or I lost touch. I look at buying such a stock as buying a company for a very small fraction of its true worth, and then being proven right by the market. I would hold the company as long as it continued to make me money. If you hired an employee that made you money would you fire him? Heck no. You would look for more guys like him. And that is not just talk. If you check the portfolio thread you will see that I hold a number of stocks that have more than doubled. A good example is ABB. I bought at 5.76. It went to 15 in about a year, and then pulled back a third to 10. I never even considered selling. My original reasons for buying had not been invalidated. Now, in a little over 2 years total, it is at 25, and still a bargain. Or take the airlines, some of which were at one time showing me a 500% gain. And then pulled back 50%. I am still holding. The stocks are still at giveaway prices, airplane seats are still packed, and the general public still thinks you should never invest in airlines. Nothing has changed, other than the price of the stock. But if any one of those three things changes, I will be happy to sell. And it will probably be to someone who heard on the TV that the airlines are doing great and everyone should have at least one airline stock in their portfolio."