Penny Stock Blog and Stocks to Watch for the Week
Posted on November 1, 2009 by Penny Stocks Picker
The penny stock blog that highlights stocks to watch in addition to providing educational and informational articles to assist you in becoming a disciplined penny stock trader. SureFirePennyStocks blog presents featured penny stock articles and videos to identify trading rules, lessons learned, tools and services to help assist you in your quest to become a hot penny stock trader. May it be an educational tip to highlighting a particular penny stock website you will find valuable information regardless if your a newbie or professional penny stock trader.
EDUCATIONAL TIP – DISASSOCIATION
If you saw a $1.00 bill lying in the street, would you pick it up? I’m pretty sure you would. When you take a position in a good penny stock trade and the shares are up 5 to 20% in hours (say $50 to $100) do you trade in your shares to take your money off the table? Your probably thinking your pretty smart and might even buy more shares. From my own experience, odds are that you won’t take the time to pocket your profits because your either greedy and/or the stock shares are not real money to you. The psychological behavior of not treating your profits as real money is due to disassociation. It’s like going to the casino and turning your cash into chips (it’s the houses first trick to sucker you out of your dollars). The chips are no longer real money to you, just pieces of plastic. Most likely you will just keep tossing the chips on the table until the house takes them all or you happen to be lucky. If you treat your penny stock trades like this your trading account will soon be wiped out. I can’t tell you when to get in or out, I just know that it’s much easier to make $100 ten times than $1000 one time.
STOCKS TO WATCH THIS WEEK
Additions for Monday (posted 11/1/09)
- Last weeks suggestions still watching: GSRE, QMIN, GSPG, GETA, AMLM, CDBTE, UNCO and MFLI
- IFSL @ .0067 (Nice volume and spike to .0087 Friday. Looks like a potential cup and handle pattern may be building. )
- IGSM @.012 (Volume and broke .012 resistance with a spike to .018. However this pulled back below .012 to close at .012 Friday. Therefore .012 is still the resistance point that you should keep a close eye on.)
Additions for Tuesday (posted 11/2/09)
- EFLN@ .013 (Breakout historical volume!! Breakout positive chatter on iHub message board.)
- IGNT @ .0033 (Double bottom bounce, positive chatter on both iHub and Yahoo message boards.)
- RVGD @ .0011 (Breakout price and closed at high of the day on decent volume. Down side is that RVGD hosed me back in 2008.)
- TGLN@ .029 (Breakout historical volume!! Breakout chatter on iHub. Down side is the Gap up from .025 today that didn’t get filled.)
- PWRM@ .10 (Price and volume increasing 2 days in a row. Positive chatter on iHub, lots of chatter on Yahoo. Down side is possible head and shoulders top formation.)
Tags: good penny stock, hot penny stock trader, penny stock blog
Filed Under: Picks N Tips
Unbelievable how well-written and infomrtaive this was.
Now I know who the brainy one is, I’ll keep loikong for your posts.
Does IVOB looks like a ascending triangle to you? From august till today?
From 8/5/09 to 10/26/09 an ascending triangle pattern formed with the top of the triangle at 0.45.
On 10/27/09 the price broke out with increase in volume.
Testing the .45 support (top of triangle) since.
Key support just broke on 11/6/09 to close at 0.42.
What are your feelings toward MGLG?
MGLG appeared on my watchlist a number of times prior to the 5/12/09 run up and after. I scored a few million at .0001 prior to the run up to .0033 which began on 5/12/09 and traded it several times. You can see all my comments on each post (just type “MGLG” in the search bar at the top of the sidebar window to see every post that MGLG appeared in). At the very moment I’m not seeing much life in MGLG…….but if that changes I’ll be watching it and preparing to trade it if I get a confirmation signal to enter into a trade.