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Top Ten Penny Stocks to Watch – Monday 6-1-09

Posted on May 31, 2009 by Penny Stocks Picker

Looking for the top ten penny stocks to watch?  Let’s face it, selecting the top ten penny stocks that have been hot penny stocks doesn’t mean they will continue to be the top penny stocks the next trading day.  I have explained my methodology many times and I try to identify the best penny stocks to watch the next trading day based on nightly scans prior to the next trading day (See Introduction for details).  I do this for myself and am more than happy to share my thoughts.  My method usually provides me with a few good penny stocks to trade the next day (not always).  I’ll also scan the market during the trading day looking for that current hot penny stock and I’ll jump on those as well with pleasure.  Please refer to my article Finding A Hot Penny Stock for a brief explanation of how you can do it yourself.  It’s important to have fun and at the same time be disciplined by having a plan and sticking to the rules.  You will find many educational articles in the Education section of the category archives that you should find both informative and entertaining (got to keep it real or I’ll fall asleep at the wheel).  At least check out my articlas Asleep at The Wheel and Anatomy of Today’s Trade for some helpful information.

Top Ten Penny Stocks to Watch on Monday 6-1-09

APDN @ .165  (First mentioned on 4-16-09 when it was at .13.  Nice uptrend continues.  It’s about ready to break the 52 week high of .17.  If it can break above that I would expect new interest to take hold and turn this into a hot penny stock.  It’s starting to get e-mail alerts from other stockers so just be ready.  On the downside…..it is coming up against the .17 resistance….could be profit taking time.  I don’t know…go ask your mother or just watch and see for yourself.)

CYHA @ .003 (Up 900% Friday on breakout volume and news.  You know these can keep going up but also more likely to come back down.)

HWBI @ .0024 (Breakout price on strong breakout volume and closed at the high of the day on Friday.  On the Top 15 board on the IHUB board.  Seeing some e-mail alerts.)

NFLD @ .178  (Just looks interesting)

ADXS @ .151  (Price and volume breakout.  Took out the .15 resistance and closed right on top of it.  Looks like a cup and handle pattern so it could pull back to form the handle pattern before moving higher.)

EPEX @ .59  (Bullish candle stick pattern formed on Friday, opened at the low and closed at the high.  Price breakout on strong volume.)

TERA @ .0007 (Price and volume breakout.)

HYGN @ .024  (Both price and volume has pulled back to consolidate around .02 support.  Could be another buying opportunity…then again….maybe not.)

NXPN @ .26  (Oil and gas play.  Volume breakout and took out the .25 resistance.  Saw an e-mail alert so that could spice things up a bit.)

MAEI @ .0004 (Up 300% Friday.  This thing has been dead and now it comes to life on 7 trades?  I don’t have a clue but I’ll be watching.)

Midnight Update:  TMR @ .49  (Just brought to my attention from a forum member.  Penny stock Oil and Gas play on the NYSE, with a decent looking chart, strong accumulation and moving up on increasing volume at the moment.  News out on May 26.  Would like to see it break above .55.  If Oil keeps going up, this is sure to follow.  Watch to see if this begins to gather new interest. )