To be honest, there really is no need for other alt coins because Bitcoin was designed flawlessly. Litecoin is a great alternative, the shorter transaction times does not necessarily mean safer. I feel like the people who are investing in alt coins are those who missed the early BTC wagon.

That isn't to say that it's a bad idea to invest in alt coins. My advice is to pay close attention to the exchanges and study the trends. Look for coins that are slowly gaining attention because even a small increase when they start out as pennies can turn into a substantial profit. I bought NMC for fun a few months back for cents, and now they are worth several dollars. Even though it's relatively cheap compared to BTC, NMC brought good profits.

But remember, day trading is a gamble.