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Finding A Hot Penny Stock – Thursday ReCap- Friday 5-22-09

Posted on May 21, 2009 by Penny Stocks Picker

Finding a hot penny stock to trade isn’t as easy as it sounds, especially trying to pick them the night before.  Nobody can predict what a penny stock is going to do the next day, there is just way to many factors.  This morning about 12 minutes after open I added SMWF at its current price at the time of .0002 to the list of suggestions because it seemed very hot.  Were talking 800million shares traded in 12 minutes HOT…..that’s on Fire.  You could have easily picked up shares at .0002.  By the end of the day it closed at .0005 (150% gain in one day).  Now, that’s what I’m talking about….luv it.

I try my best to identify at least five hot penny stocks on the move the night before the next trading day.  If their duds, I move on and look for another hot penny stock on the move while the market is open.  There is many ways to search for them….they all take time and time is your enemy if you discover it to late (don’t buy in to late and pay to much).  A couple of places to start your search is by using the real-time most active lists (I currently use Quotestream.com) or you can try the free 15min delayed quotes at PinkSheets.com (but again your already 15min late for the date). You should also search the message boards (such as the Investors Hub Bulletin Board or Yahoo) looking to see what everyone is getting excited about or try using some of the stock screening tools.   Breaking news can also be a decent source (I use google GMAIL Reader and subscribed to a number of RSS stock news feeds). 

Hot Penny Stock Suggestions for Friday 5-22-09

I’m not the best Multi-Tasker (really working on becoming better at that) which is one reason I don’t normally update the post during the day.  I’m either working or focusing on my own positions.  However, I’m going to try to do something different for Friday and not list anything until I spot something during the market tomorrow.  If and when I spot something I will update this post with the stock  (including the time and it’s current price).  Also, if you see anything, please feel free to post a comment ASAP.  However, SMWF will definitely be on my radar in the morning.

HOT PENNY STOCKS WILL BE UPDATED DURING THE DAY (Keep checking back)

9:31ET  SMWF now at .0006 (However it is now up 200% since suggested Thursday)

9:34ET UNCO now at .016 (this is high risk….it was up 294% yesterday)

10:08ET  UNCO now at .014….not looking so hot anymore  11:01ET….I take that back now at .02 and moving higher….your on your own on this one.

10:09ET  MGLG now at .0004 (down from .0006 open)  (ok…possible new signal for this one that made us 3000% last week….Lots of Bid support 8 MMs at .0003, 1 MM left at Ask of .0004)

11:19ET….SMWF at .0005 possible sell off…….Dont forget it’s Friday and we have a long weekend (Monday Market is closed and Traders dont usually like to hold their positions long).

11:56ET  UNCO now at .029……Probably wise to take some profits here if you got in at .016 (thats almost 100% gain in about 2.5 hours). Do whatever you want.

12:12ET QEDN now at .0001  (No bid, .0001 Ask…That means you cant sell it! But you can buy at the bottom… High risk lotto play.  Don’t usually tell you what I’m doing but wanted you to know that I like a good gamble every now and then so I got an order in at .0001 ask…not filled yet….2 Market Makers left at the .0001 Ask.) 

 12:14ET…..my order for QEDN filled at .0001.

12:17ET  QEDN  now .0002.  Bid ask now .0001/.0002

12:48ET  XKEMQ at .0004 (up 300% so far today)  Been watching this all morning. Not sure about this one….just wanted to let you know.

FYI:  Market will be closed Monday.  Kind of a slow day today overall but still some good trades anyway.   I expect many traders took the day off for the long weekend.