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Trade Penny Stocks – Watchlist for 10/28/09

Posted on October 27, 2009 by Penny Stocks Picker

Make sure to trade penny stocks when the timing is right.  This week has been pretty boring so far to trade penny stocks and I’m about ready for some more confirmation signals to enter a penny stock trade.

Educational Tip

Finding a hot penny stock to trade doesn’t always coincide with limiting your risks because penny stocks are extremely volatile and easily manipulated.  If the stock isn’t behaving as expected then you don’t have to trade it.  There are always more good penny stocks to trade everyday but knowing how to find and take advantage of them takes experience and discipline.  Check out my article titled “Finding a Hot Penny Stock” dated May and “21, 2009 and “….Anatomy of Today’s Trade” dated February 24, 2009 for some additional information.

Penny Stock Watchlist – Wednesday 10/28/09

I’m still watching Monday’s watchlist in addition to these and hope to get confirmation to enter a trade.

• UNCO @ .0045  (Unico, Incorporated, focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates.  Breakout volume and price.  News out today.)
• MYNG @ .0022 (Golden Eagle International, Inc., a publicly-traded junior mining company.  Bounce with minor increase in volume, looks like .0015 could be the bottom for now.)
• FRCMQ @ .11 (FairPoint Communications, Inc., Had a big gap down from .37 on Monday.  Maybe we see a bounce?)
• NXTH @ 1.42 (NXT Nutritionals Holdings, Inc.,  Nice uptrend since September 11th but huge pullback today from 3.46 all the way back down to the 1.40 support zone (right about back to the price where the uptrend began).  I’ll be looking for a bounce in the morning with strong buying volume, if it has a large gap up at open then I’ll probably pass unless it comes back to support.  Wonder if the news release had something to do with the ~57% pullback?)
• WAMUQ @ .1315 (Washintgon Mutual Inc., Pullback nearing the .10 support zone.  I’m just keeping my eye on this one.)