I have noticed a few of the penny stocks that I have been watching are making big moves. Now that the threat of the European banks is being addressed I think more investors are putting more confidence in penny stocks and taking some bigger gambles. I have seen GREAT returns in a lot of the investments I made on some large cap stocks but I will share that in my new Canadian high Dividend stocks section. Lets get to those hot penny stocks

TSX Penny Stocks to watch October and November 2011

Yellow Media

YLO – This stock has been soaring lately and I nearly picked it right at the bottom! If you don’t know Yellow Media here is a bit of information about them “is a media and marketing solutions company through its network of companies that include Yellow Pages Group (YPG), Trader Corporation (Trader) and Canpages Inc. (Canpages). YPG is Canada’s media and marketing solutions company, serving Canadian businesses and consumers nationwide”

Current price: $0.54
Where I bought: $0.18
Amount purchased: $300

When it comes to investing in penny stocks I don’t like to put in more than $300 because of the risk, ESPECIALLY with a company like Yellow Media. This is a stock that went from $6 to under 15 cents in less than a year and I truly believed they were going to ZERO. I put in $300 and it’s just about up to $1000 now.

If you are going long on this stock do your research, there could still be some money to be made on the short side though.

Uranium One

UUU – This is a Uranium stock that was getting hit because of the low markets, and the commodities / metals getting beat up. I always like to buy when a stock is down in a double whammy situation, but they are still a good company. I didn’t buy any UUU but I picked up some copper stocks at $20 and they are already up to $30. UUU is up 22% in the last month! I think there is still lots of room for them to go up.

“Uranium One Inc., along with its subsidiaries, is engaged in the acquisition, exploration and development of properties for the production of uranium in Kazakhstan, the United States, Australia and Canada. It owns a 70% interest in the Akdala and South Inkai Uranium Mines in Kazakhstan. It holds a 50% interest in the Karatau joint venture, which owns Karatau uranium mine in Kazakhstan, 49.67% interest in the Zarechnoye joint venture, which owns Zarechnoye uranium mine in Kazakhstan, and a 30% interest in Kyzylkum joint venture. It owns a 51% interest in the Honeymoon Uranium Project in Australia”

Current price: $2.90


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