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Easy Money? – Watch List 11/30/09

Posted on November 29, 2009 by Penny Stocks Picker

Last week we identified several top penny stocks on the move that resulted in exceptional profitable trades (QEDN, BZCN, FFGO).  All three remain on the active watch list in addition to a new one.

TIP OF THE DAY (EASY MONEY) – PROFIT TAKING

Taking your money off the table (and some profits) along the way up eliminates your risk.  It is also much easier to get out on the way up instead of waiting for the scared money to run for the exit on the way down.  When a stock is up 700% in days (i.e., QEDN) how can you go wrong by at least taking your initial penny stock investment off the table?  It’s a good habit to start taking your profits by at least selling a portion of your position on the way up.  Yeah, the stock might continue to run to the moon and your thinking you don’t want to miss out and beat yourself up for getting out early.  Well are you going to beat yourself up if you didn’t take your profits when it turns around and goes back down?  So, maybe it’s wise to sell a portion of your remaining position (say 1/3 to 1/2) at each step along the way up because this always keeps you in the game, locks in profits and minimizes your risk (yes it also minimizes your reward but that’s the price of insurance).  How can you be wrong taking at least some of your profits off the table?  No matter which way the stock price goes at this point you will be correct because your still in the game on the way up or you took some of your profits if it goes down. 

WATCHLIST FOR MONDAY 11/30/09

• SYNJ @ .0010 (Volume and price breakout.)
• QEDN @ .0008 (Identified at .0001, remains on the  watch list.  However,  up 4 days now so I took some of my profits and still remain in the game with a portion of my original position.)
• BZCN @ .0035  (Re-listed at .0013 and still remains on the watch list.)
• FFGO @.0002 (Remains on the watch list.)