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Best Stock Picks – Recap and Suggestions for Tuesday 3/10/09

Posted on March 9, 2009 by Penny Stocks Picker

Monday suggestions Recap

SureFirePennyStocks is on a roll!  Our #1 best stock picks for today (which was posted the night before) was KWBT at .0014.  KWBT reached a high of .0038  today (up ~170%) and closed at .0024 (71% gain).  During the first 10min of the market open, you should have focused your attention on KWBT for today’s penny stock trade at an entry price around .0016 to .0020.  If you were not able to identify this as one of the best stock picks for the day, then you should review our educational articles in the Category Archives for some details on how to pick good penny stocks (e.g., Introduction…..).  If you got in, let us know by posting a comment.

We also correctly identified that penny stocks in the stem cell sector were set to run today.  This was based on Fridays news release and using psychological analysis (see How to Pick Penny Stocks).  All 10 of our stem cell penny stock suggestions closed up significantly, granted they did gap up (opened higher then previous days close price).  I want to clarify that it is still my opinion that entering a position in this sector, based on this news only is still a play on psychology and not fundamentals at this time.  When the gaps in today’s prices get filled or close to being filled (as compared to Friday’s closing price) then technicals are a factor and could confirm a trade signal (looks like some of the stocks could have qualified for that today).  Yes, president Obama confirmed today that he will rescind limits on federal funding for stem cell research, suggesting more federal funding for this sector.  However, who is going to get it, when is it going to be distributed, how much funding are we talking about, where is it going to be spent, and so fourth.  There is no possible way to fundamentally quantify what this news means to an individual penny stem cell stock at this time.  If you have any ideas or comments, please feel free to post.

Suggestions for Tuesday 3/10/09

I have not seen a lot of chatter on these suggestions yet, but still good penny stocks to watch.

DPBE@ .001 (Some technical indicators:  1st day of breakout price with breakout volume, broke down trend line, closed above 30Day MA…………..etc.)

IHGP @ .001 (Closed up 42% on break out volume, did pull back on what appears to be profit taking.)

QTEK@ .0007 (Up 600% today, 1st day of breakout price on breakout volume of only 25 million shares.  This hasn’t seen that kinda of volume in about a year.  Continued, strong buying volume (compared to today’s) should indicate a buy signal.  If it’s all selling then don’t trade.)

PRGL @ .0018 (Up 800% today, 1st day of breakout price with breakout volume, only 10 million shares traded.  Closed at the .0018 resistance from 1/8/09.)

IFNY @ .50 (Price breakout continued but volume decreased.  Guess that news release on Friday 3/6/09 is keeping this moving.)

Don’t forget to keep any eye on some of our past recent picks.