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Get Ready to Run These Stocks – Watchlist 11/5/09

Posted on November 4, 2009 by Penny Stocks Picker

Are you ready to take charge and run the penny stock game?  Tired of being the one holding an empty bag at the end of the day?  Trading penny stocks is not the same as investing and the rules need to be applied correctly if you want to be successful.  Please read our Introduction and Educational articles in the category archives for some details.

Penny stock trading is a fast paced game, if your not paying attention or you start having a love affair with a penny stock you will end up on a crash course.  A poor execution of a good idea isn’t going to lead to a profitable trade or protect your capital.  I find hot penny stocks then add them to the watchlist waiting for a signal to enter a trade (with a complete plan to lock in profits or cut my loses).  I profited over 100% in just a few days trading MFLI by waiting for the correct time (to minimize my risk).  MFLI appeared on our watchlist for Monday 10/26/09 at a price of .016 but I mentioned to watch to see if .015 support held (which it didn’t).  On 10/26 and 10/27 MFLI broke .015 support but then on 10/28 it cleared .015 (which was resistance) confirming a trade signal (still had some risk).  I filled a position at .016 and closed it this morning at .033 (~106% gain).  I didn’t listen to the hype, I just followed the rules by taking my profits and moved on in search of the next trade.

PENNY STOCK WATCHLIST FOR THURSDAY  11/5/09

First, let me reiterate….these are stocks to watch!  I know nothing fundamentally about these companies.  They make the list only because they appear to be hot at the moment and the chart looks interesting (could be a pump and dump…I don’t know…It’s all in the chart!).  Wait for a signal and have a plan. 

• DUSS @ .049 (Decent volume and up against the .05 resistance.  MACD broke above the 0 line.  News out today.  News letter alerts going out.)
• ZVTK @ .0025 (Volume and price breakout to close at the high of the day.  Breakout chatter.  Press Release.  Support at ~ .0015.)
• PMDP @ .0013 (Looks like a nice uptrend in a ascending triangle pattern.  .0014 resistance needs to be broken.)
• SYNJ @ .0007 (Volume breakout off the .0005 support zone and a Press Release.)
• CHBO@ .053 (488% move today on breakout historical volume day.  Breakout chatter on message boards.  I couldn’t find a press release so I wonder where this came from?  Of course the risk here is high now but still could swing wildly for some profitable trades.)
• IVOT@ .004 (Breakout volume, price and chatter.   Press Release today.  Up against the .004 resistance which was the high back in March.)