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Penny Stocks – Watchlist 6-23-09

Posted on June 22, 2009 by Penny Stocks Picker

The question is are they just penny stocks to watch or penny stocks to trade?  You should know that they are not penny stocks to invest in right?  Good….we got that cleared up.  So, how do I know these are good penny stocks to trade you ask.  Well, I don’t know if they will be good to trade tomorrow or any other day considering I’m scanning the market after hours (during the trading day is a different story).  I place the suggestions on my watchlist based on various recent events and indicators.  The next day, I wait for a confirmation signal before I enter into a trade.  So, you must make a plan for each stock so you know what signal to look for…..if X happens then do this….or if Y happens do that…… and if nothing happens, do nothing.  For example I bought LFBG Friday near the end of the trading day anticipating that it would Gap up at open today (Monday) and that I would sell at the open then buy back in on the pull back.  I happened to luck out and LFBG behaved exactly as I had planned (lucky for me this time).  Point is that you need to make your own plans and wait for the signal (if you planned then you should know what signal to look for).  Your plan is not always going to be correct…that’s OK….just have a plan for that.

LFBG @ .101  (Bought this last Friday at .07 and suggested it for Monday.  It gaped open today at .089 (time to sell) and pulled right back to fill the gap at .07….that was the time to buy back in.  Volume pulled back but yet had 44% gain today.  Still gaining chatter.   So….what’s your plan?)

AGLV@ .0004 (Suggested for Monday at .0003 and highlighting it again.  Volume continues to increase followed with price in the right direction.  Technical indicators turning up.  I don’t have a clue why this is moving.  However, we have breakout chatter on iHUB today…that spells new blood!   So, what gets a stock moving up you ask……simple….more buyers than sellers.)

NXHD @ .0001 (I suggested this last week at .0002.  Chatter remains and now seeing some e-mail alerts.  More news today after market hours…..I would say the company is really trying to hype the stock…wouldn’t you?  Frustrating that the company seems to be diluting the stock to no end (selling more Authorized shares into the Float) which is holding back the run.)

So, before you buy any of these, come up with a plan.  For example:  A) If NXHD shows strong buying volume and breaks above .0002 then I’ll gamble $300 on 1 million shares at .0003 or B)  If NXHD breaks above .0002 I’ll wait for it to pull back to .0002 before buying in or C) I’ll watch level 2 to confirm strong bid support and if the ask begins to crumble (1 or 2 MMS left at the ask) with strong buying volume then I’ll jump in at any price.  NOTE: these are just a few examples on an entry plan, not an actual plan I’m suggesting you follow.  You will also need an exit strategy plan as well (either for a loss or profit).