Finding penny stocks to buy in the tech sector can be a
difficult trading strategy, but these investments can also be great
ways to make money in the stock market. Aggressive technology penny
stocks can deliver big profits in a hurry after just a little
buying pressure. It's because of this that some of my favorite
penny stocks to buy right now are tech picks including
Newtek Business Services
) among others.
Of course, that doesn't mean your penny stock investment
strategy has to be limited to tech only. Investing your money in
) is also a good strategy according to my latest analysis of penny
stocks under $2 (at least as of this morning's market open). Let me
give you a breakdown on each of these stocks and why they make my
list of the top 10 penny stocks to buy right now:
- AIS focuses on self-injection pharmaceutical products and
technologies and topical gel-based products. Though Antares is
not yet profitable, this biotech start-up is a perfect takeover
target due to its innovative drug delivery technology. This is a
hot penny stock to buy.
- IMOS is in the semiconductor business, providing testing and
assembly for the electronics that go into LCD and
flat-panel displays. That includes not just TVs but also laptops
and other gadgets. As consumer spending picks up, ChipMOS will do
brisk business. ChipMOS fits into almost any investment
- DRJ is a diamond in the rough of the retail sector. Dreams Inc.
specializes in the sale of sports licensed products and
memorabilia, and will see booming business as the summer
recreation months merge perfectly with a bounce in consumer
sentiment. This is a good penny stock investment.
- HPOL is a market research company that operates in North
America, Europe, and Asia. Harris is seeing strong sales as
corporations ramp up production and sales efforts, increasing
demand for HPOL services. Harris is a penny stock worth investing
your money in.
- IGOI designs and creates power and battery products for mobile
electronic devices. Like ChipMOS, iGo will see brisk business and
gadget sales increase. If your trading strategy favors small cap
stocks, iGo is a great investment.
LML Payment Systems
- LMLP is a great mix of a tech stock and a retail investment.
This penny stock helps manage and authenticate online sales
transactions, meaning that as consumer trends improve and
shoppers look for deals on the web, LMLP will be there.
Newtek Business Services
- NEWT provides business services including payment processing
and check approval to merchants and businesses of small to middle
size. Like LMLP, this penny stock should see a bounce as consumer
Tii Network Technologies
- TIII is a communications stock that specializes in DSL and
networking technologies. As businesses and residences ramp up
their internet use in time with the broader recovery, TIII stock
- TSEM is a fairly well known tech stock, but this company is
trading at penny stock levels right now and is a great
investment. Located in Israel, this technology company will
benefit from the tech boom and rebound in consumer spending.
Sirius XM Radio
was one of my
hot penny stocks to buy
last week, and remains on the list for the same reasons as
before. It is much bigger than other companies on this list of
penny stock trading strategies, so doesn't carry the same
volatility. What's more, the boom in new car sales will lift the
Sirius XM satellite radio audience.
||Antares Pharma Inc.
||Health Care Equipment
||Harris Interactive Inc.
||Computers & Peripherals
||LML Payment Systems Inc.
||Newtek Business Services
||Tii Network Technologies
||Tower Semiconductor Ltd.
||Sirius XM Radio Inc.
So there you have it -- my 10 favorite penny stocks to buy now. One
word of warning, however: I recommend that you use limit orders
whenever buying stocks that are this small. I'm not talking about
the share price, of course, but rather the average volume and
market cap. Just buying a few hundred -- or even a few dozen --
shares could send prices soaring, so if you're going to buy any of
these penny stocks I advise you set your entry price at 10 cents
above the previous day's close and don't pay a penny more. You may
have to string your purchase out over several days, but it is much
better to enter at the right price in these penny stocks. Because
of the low valuations, just a few cents difference can mean big
profits or losses. So again, always use a limit order and under no
circumstances place a market order.
As of this writing, Louis Navellier did not own any of the
stocks mentioned here in personal or client portfolios.