There have been alot of penny stocks in play this week but unfortunately I haven’t been around but I did get to trade one penny stock on Wednesday. I didn’t have time to update the blog on the trade, but I did update via my twitter. I traded the nice breakout on penny stock INSM for a small gain – coulda/shoulda had more but that is what happens when trading penny stocks BUT anytime you have a profitable trade…then its a good one! Lets get to the penny stocks to watch for today. Remember that the market is closed on Monday, and keep in mind normally Fridays before a major holiday are very slow and not much volume is pushed through the market.

MRM 200%+ move here for this high paced penny stock. Reason for the move you ask? Earnings! They reported a “turnaround” performance in earnings making a net income in the Q1 compared to a loss during last year’s Q1. You all know how these earnings plays have been acting lately they just continue to go up and up reguardless if it looks toooo overbought. This penny stock is more of a buy then a short, but these aren’t exactly my favorite types to buy. With that being said I’ll keep this penny stock on watch just to see if it gives me an opportunity to scalp some money on the short side for a quick daytrade. I’ll be looking for a green-to-red move for a quick short and cover before a short squeeze that will most likely continue a push to higher highs.

NMTI this penny stock has been surging higher based on new analyst rankings and a bad earnings report. Bad? Yes, bad. Which is why this penny stock will eventually come back down and fall from its graces. Its got no reason to be pushing higher right now which is why a short play may be in effect for today. Watch that 2.00 level as it’s very important. I’d look to possibly either go short on a break on 2.00 in the morning on big volume, or a break of 1.90. Your choice!

ETWC & PCBI these penny stocks have made huge runs but do not qualify as buys OR shorts simply because they’re getting buyout offers. Normally these spike on the day of the news(yesterday) to the targeted buyout price and don’t ever move much from there. Reason I put these on the penny stocks to watch is because I’m sure they popped up on your screeners. They’re dead to me and don’t offer any trading opportunities for you guys/gals.

OGXI penny stock is zippin’ higher on drug news from last week. Has gone from 7-17 on the news, but im not interested yet….I’m just gonna sit back and watch all of these pennystocker’s that are short get squeezed. Because of that, it’s more of a buy then a short…but be careful because that sentiment could change any day now. There are 74,000 shares short right now (Read this post to figure out how I found the short interest), so there are plenty more to get juiced out there. Be patient and the shorting opportunity will come.

NGSX this penny stock has pushed around 100% over the last week for really not much reason. Earnings aren’t good at all as the company has still yet to turn a profit. In my opinion this penny stock’s run was on anticipation of the Europeans Commission decision on one of their drugs. Well, the approval decision came yesterday with a surprisingly negative reaction by traders. I guess this fits the common phrase: “buy the hype, sell the news” This could be setting up up for possibly another down day..and if so, a good shorting opportunity could arise on a break of 4.66!

It’s UNBELIEVEABLE what’s happening out there in penny stock land. There’s so much strength, breakouts, short squeezes, tanks….everything! This is what trading penny stocks is all about! What a week to have final exams on, right? Well the good news is that I don’t have an exam today! I’ll be able to trade today for the first time this week and I’m really looking forward to it. The penny stock watch lists have been dead on the spot many of these penny stock plays and these exams have left me unable to take advantage of them. My extra monitor is going to be filled with penny stock charts tommorrow morning because there are just soooooooo many plays out their right now. Enough of me talking, lets see the penny stock plays out their that will make you some moolah…..

BZ penny stock is breaking out again from its gap up off the earnings. They narrowed loses so this could continue to run DDRX, COT style. 5 min chart is pretty choppy but this could potentially be a good buy today.

CBOU this coffee related penny stock is on a caffeine rush! 7 straight days up going from 2.00 to over almost 6.00! Watch for a negative move to come sometime soon – maybe today? No news is driving this penny stock, just the sector is driving up and this is goin’ with it. Don’t expect this to be a great short, but it defintely could be a profitable short..when the opportunity arises. I’d like to see some sideways action first, though.

CLUB showed some weakness today in the morning going from green-to-red then the greedy shorts got totally squeezed and this penny stock accelerated higher closing up 5% on the day. I really think this thing could squeeze some more shorts before this run is over and done with, because of that I’m avoiding this penny stock..for right now.

COT earnings play here showing some sideways price action. It’ll be pretty easy to trade this penny stock – if it breaks the sideways action on the downside potentially short this sucker. If it breaks sideways action on the upside potentially buy it. Personally, I’ll be looking for a break of 4.00 on BIG volume to maybe go short.

CRTX this penny stock has had a real nice run up mostly on speculation on earnings. Those earnings come out this morning before the market open so defintely keep this penny stock on the news and possibly short sell on a bad report!

CTIC penny stock exploded higher today on a 140% gain due to a promoter pumping this BUT also due to earnings speculation which the earnings are due out this morning also so defintely keep this penny stock on watch! Anything bad and this thing could tank, possibly netting you some good short selling profits!

CVTI low volume runner here up 50%+ today on no news. I kinda want to short this penny stock, but I’m not holding my breath because it did just just out of a 6 month base with this move. Very thinly traded, so if you do decide to trade this buying/or shorting trade it with caution. I’ll probably hold off considering this.

DAN made a 100%+ run in 2 days, but is stalling at the 2.00 mark. No news on this penny stock BUT it is car/transportation related which could have something to do with the pour-in of volume and the upwards move. Definitely a penny stock to watch especially on a break of 2.00 as it could trend higher after that. Otherwise look for a green-to-red short.

EQUR mentioned this penny stock a couple of days ago HERE @ .03…now it’s .044. Shoulda, woulda, coulda but I had exams. Thats how it goes sometimes BUT that doesn’t mean I still won’t buy this stock. Very good support in the .04 range and volume increased yesterday leading me to believe it could bust higher. Definitely a potential buy for me come market open.

FCH volume flooded in yesterday on this penny stock on speculation of earnings which are released AFTER the market closes today. Looking at the chart there was a TON of buying right before the closing bell. There’s stiff resistance @ 3.50 but if it breaks that, which I think it might based on the end of day buying pressure, it’s a great day-trade buy. I say day-trade because you DONT want to hold this overnight because of the earnings factor.

INSM we got a hammer candle stick on the daily chart for this penny stock as well as an increase in volume. If you read the watchlist a few day ago I mentioned this was on the verge of breaking out. With this latest volume picking up and the buyers comming back in don’t be surprised if it finally does breakout. If it breaks 1.50 it’s a no-brainer buy in my opinion…but ONLY if it breaks that important resistance mark.

LEE wow big up-swing from .40 to 1.20 on four consecutive up-days. Earnings are scheduled for release this morning and based on the report it’ll give you an idea of where to go with this penny stock. Let the market show you how to trade it…if there are more sellers than buyers then possibly short this sucker!

MDVX remember this penny stock? This is the one I made $661 on buying the perfect breakout. Wouldn’t you know it, it is setting up to potentially break out again and if it does I’ll be all over it with a buy, buy, buy (kinda like Jim Cramer). Its just gotta break 4.00 first!

NCOC is a coal penny stock that HAD momentum from the goldman sachs upgrade of the sector…but that seems to be winding down. Sideways price action the past 2 days leading me to believe this could become a good short candidate. Watch for a green-to-red move or a break of 2.30 to potentially intiate a short biased trade.

RIV surging only because it’s in the casino sector BUT with the Wynn Resort reporting losses yesterday it could kill the casino rally making this a good short trade. I’ll only look to short though if it has a green-to-red move.

SPPI right now this penny stock’s chart is showing a breakout..but barely. I’d be all over this, but the volume just doesn’t confirm a breakout and I like to see the RSI over 70 on these types of plays. We’ll let today’s price action let us know if this is a legit breakout or not. I might be a buyer.

UPFC price increase of over 100% for this financial penny stock over the last few days. No news, just manipulation..so you know what that means, right? Potential short! Watch for a green-to-red move to potentially short. It’s a thinly traded penny stock so be careful.

ZAGG is a-trying to break out…yet again. Keep this penny stock on watch today as it very well could make you some money buying it but watch for some sort of confirmation, likely early morning volume!

Read all about em’

ATRC huge 125% 1 day surge yesterday caused by a better than expected earnings report and news that they have an agreement with a credit facility. We all know what these penny stock earnings plays have been doing lately so definitely look for a continued move today especially since looking at the 5 min chart there was a TON of volume and buying at the end of the day, I mean a ton. This bodes well for a positive move today, but at the same time if it gets too overextended watch for a fade from an early morning spike!

CBBO I don’t know what caused this penny stock to have a 106% run yesterday..possibly a late reaction to earnings? BUT the earnings weren’t good, balance sheet is still poor, downtrending chart the past 6 months, and it failed to close over the 200 day moving average…all these factors lead me to believe this penny stock might be a good short for today. Watch for a green-to-red move, or a break of 2.30 to the downside to initiate a short position.

COT here’s the deal: it’s an earnings play..you know I don’t like to short these penny stocks until they get waayyyyyyy tooo overextended BUT… this penny stock has shown fading volume each of the last 2 days. I’m thinking it’s kind of stalling here and if it can maybe crack 4.00 you’ll be able to make a quick .20-30 cents per share profit on a short trade. That doesn’t mean that I don’t think this sucker will continue to fly up, though.

NCOC a decision comes today on what direction this penny stock is going to head. Sideways price action today plus the fading volume makes me believe if this penny stock even gets a hit of negativity on the day it could drop to give you a reasonable short selling profit. A price point to consider shorting at would be a break of 2.40!

PMI not really sure of the reason for this three day run up in this penny stock. Many might be thinking of shorting this sucker, but I’m not to sure..yet. Actually right now, looking at the 5 min chart, the huge volume buying pressure at the end of the day over the previous resistance from earlier in the morning makes me think this run continues today. But again be on the lookout for an early morning spike then fading price action…if this infact goes up today.

STXX holy 200% run in the last hour of the trading day. Not one trade was made until 3:00 pm and from that point it was a total surge. If you’ve gotten my FREE eBook, you know these late spikes are GREAT shorting opportunities. This penny stock is thinly traded with only a little over 100,000 shares traded AND it’s spread is totally wacked out. Probably a little too risky for my taste, but maybe not for yours?

Exams start today so I have to keep it short cause I’m studying!! For all you pennystocker’s lucky enough to not have to take exams, here’s some penny stocks to watch!

NSHA – surged 95% yesterday on NO news.  This penny stock has a wicked down-trending chart, so definitely watch for bitter bagholders to dump this. Because of that it’s a potential short.

ABR I keep thinking this penny stock is going to tank, but it defys the odds and keeps chugging along. It’s coming up on the 200 day moving average resistance which may just stall this 200%+ run over the last week. Watch for a green-to-red short, probably.

CLUB wow this penny stock close 1 cent below the 200 day moving average. Now on a close to 100% run from last week, and today may be the day we see a red day. Watch this penny stock for a short play especially after they announced that earnings plunged.

EQUR little pinksheet penny stock breaking-out, but didn’t have enough of an increase in volume for me to give this breakout any validity. Nevertheless keep this penny stock on your watchlist.

INSM failed to continue it’s breakout from Friday after getting rejected yet again at the 1.50 pricepoint. BUT if it somehow gets past that today on big volume then it’s a total buy.

LNET is a penny stock that had great earnings and showed continued strength yesterday after breaking out of the 4.20 resistance. If this penny stock would’ve seen more buying pressure yesterday it’d be a no brainer buy, but instead just watch how it acts at the open. If it’s getting some buying pressure then it may continue to trend upward, therefore would be a good buy.

NCOC more of a buy now than a short even if it’s gone up over 100%+ in two days. Reason being is that Goldman Sachs gave coal stocks an upgrade so these coal related penny stocks probably still will run for atleast another day. Because of that this would be a good buy on a cross of 2.60.

RUTH had its first red candle yesterday from its huge run over the past week. I expect possibly another downward move today on a break of 3.60. or a green-to-red short move. Keep this penny stock on watch.

TPGI 3- day run on no NEWS and a horrible downtrending chart. Look for a short play to come upon on a break of 2.00…but only if the volume is there on the break.

Monday is shaping up to be a great start of the week and month for trading! There are tons of penny stocks to watch, but I give you the best 8 based on risk/reward, tradeability, and predictability. Lets make money, shall we?

INSM hello breakout! A Very nice breakout this penny stock saw on Friday on legit volume, too! Has all the characteristics of a potential classic 2-3 day run- off the initial breakout: increase in volume, break of resistance, and the Relative Strength Index is in the power zone (70). I’m definitely going to consider buying this penny stock first thing..if and only if it opens @ 1.50 or above.

TGIC big spiking penny stock on Friday going up over 100%+ on the day……on NO news a.k.a awesome. great. fantastic. potentional short. Although it did give back a chunk of change from the highs on a common Friday afternoon fade, it probably has more to give back. Looking at the 5 min chart there is no defined support, just a bunch of stair-stepping…which is the only thing I don’t like about this penny stock. I like clear support lines to short into, but nonetheless keep this on watch!

ABR wrote about this penny stock in THIS post…maybe it is about time this thing cool down? Solid sideways price action from late morning to the closing bell on Friday so this penny stock should be about to make a bigger move somewhere. Watch for a green-to-red short or a short on a solid break on 3.17.

TPGI is a penny stock up over 90%+ in 3 days on zero news. Balance sheet doesn’t look too bad, but the earnings are definitely not what you would call “earnings”. Maybe try to short this penny stock on a break of 2.00 but, not my favorite potential short though.

RUTH has been on my radar since the middle of last week and has always been a good penny stock to short on its run-ups. Hopefully this one isn’t any different..problem is we just need to figure out when this sucker is going to drop. Considering its counter-part MRT was in the red on Friday I think it’s time for this one to have a negative move of its own. It is actually setting up to be a triple top, and as you know from A Chart Pattern That Will Make You Money Shorting Penny Stocks….it’s one of my favorite patterns to short. Key support price to break for a great short will be 3.94. Watch It!

ECPG probably a penny stock comming up on many of your scans or other blogs. Nice run of 60%-70% past few days but,  I wouldn’t consider shorting this penny stock as the books and the fundamentals of this company are pretty damn good.

CITP penny stock has rocketed up over 100% on 8 consecutive green days…all for earnings expectations. Well, earnings came out and they’re quite poor but what else can you expect from this company? CEO said that their huge debt line will be reduced even slower than it was in 2008..not good considering how much debt they have stocked up. Taking the dismal earnings and over-inflated price I’m possibly thinking about shorting this sucker.

COT will this be another penny stock earnings runner like we’ve seen lately? (i.e. DDRX, LNET). Definitely a potential buy only if there’s a big presence of buyers from 10:30am and on! Many are thinking about shorting this but people….they reported a 1st quarter profit.

Let me refresh your memory on what the last 2 penny stocks did that reported profit-turning earnings.

Will COT act the same?

Borrrrrriiiiingg out there today: Only 4 penny stocks to watch — What happened to the penny stock promoters? You know, these guys. Not much going on right now with most attention being paid to the swine flu penny stocks, but there’s nothing technical about the charts on those plays that I really like…yet. Setting up to be a pretty boring Thursday in penny stock land with only a few possible trades, if and only if they cross the mentioned price points. None on the watch list are buys, just possible shorts.

ABR is a nice multi-day penny stock spike –possibly due to accumulation before earnings are reported on May 7th. Can’t really see how earnings would be any good considering its a Financial/Real Estate Trust. This company’s financial statements make me cringe when I look at them..loss of 81 million, Cash of 800k, and Debt of 2 Billion. I’m looking to short this run pretty soon, whether that’s today or in the next week remains to be seen. It’s still got some room to run and is making a nice little trading range between 2.28 and 2.55. Lets see what it does this morning–a break above 2.55 would signal a possible continuation with its spike.

DTG is making a very nice run here that very well could come to an end today when you take into account their credit exposure to Chrysler, who apparently is close to Bankruptcy. Most of Thrifty’s rental cars are from Chrysler and if reports are true that lenders have broken off talks with Chrysler then this penny stock could very well fall from it’s recent run up. Here’s the deal: 5 min chart is forming a double top, and a break of 3.20 could nail you some simple short selling profits.

MNTG I’m not feelin’ this recent run of 100%+ in two days. No news out plus it’s coming up on the 200 day moving average resistance at 2.31. All the variables point to a downward move. Will we get that today? A good short entry would be on a break of 2.00 on solid volume. Keep in mind this is connected to the casinos, so it may move with the sector.

TRIB is a swine flu penny stock that soared yesterday 60% while all the others flopped. This surge can be contributed to their very good earnings report more so the actual swine flu itself. Right now, considering the earnings, I probably won’t even think about shorting this stock. If it gets way over-extended then my sentiment may change.

Sorry, really busy this morning so no commentary. I’ll just give em’ straight to you and let you do your thing.

I’ll have a post a little later..probably late morning early afternoon on 2 penny stocks i’ve profited off of this week.

NVAX

COIN

CMRG

DDRX

BCRX

BZH

UEC

RUTH

LNET

MNTG

XOMA

Yesterday was a very fun trading day that presented alot of opportunities to trade volatile penny stocks related to the swine flu. I planned I would only daytrade 1 time yesterday so I could have 2 more day trades available for better opportunties that may present themseleves during the week. So I stuck to my plan profited from the hype with my daytrade on NNVC’s morning gap-up (check my trades ). Full blog post about the trade coming later in the week.

The hype that is surrounding this flu is amazing thanks to the media and twitter. Will it last? We shall see what developments and PR’s are released this morning.

Oh and yes I’m writing this at 6:00 a.m since I’ve been up all night doing school work. Unfortunately there’s a chance I won’t be trading today because:

a) I might be passed out by 9:30 a.m.

b) I might be studying for a test that I have @ 2:00 p.m. – (Won’t catch the afternoon fades!)

c) I might be writing a paper due @ 4:00 p.m.

d) I might be preparing my powerpoint presentation for that paper

But you can trade! So here’s some penny stocks…

RUTH pulling a nice 3 day move from the mid-to-high 1’s to 2.95 based on the fact that analyst are sucking-up hardcore to the restaurant sector. Also speculation on 1Q earnings that are due to be reported on May 5th is moving this penny stock. If THIS write-up on RUTH by the Orlando Sentinel (Yeaaa reppin’ Florida!) is any indication, things may not be looking too good earnings wise. Keep this on watch: I’d like to try to short this penny stock sometime in the upcoming days. Key in on 3.55 as that’s the next resistance as per the 6 month chart.

MRT same deal as RUTH (Both are steakhouses) but they’re in even more financial trouble. It’ll follow the same trend as RUTH so when either of these stocks show weakness it would probably be a good idea to allocate your money and short both. Methinks that it’ll rise up and little more and maybe stall and give us a shorting opportunity at 3.50 which also happens to be where the 250 moving average is!

MDOR great looking breakout this penny stock showed yesterday. I almost pulled the buy trigger a few times in the last 5 min of the day, but I wanted money available to possibly trade all these swine flu stocks. Very very good chance of it continuing its breakout considering the volume was definitely there and it ran back into the power zone aka RSI over 70. I can usually spot a good breakout, and this has all the makings to be one. Consider buying if it opens @ 1.15 or more.

CMRG wow this penny stock’s income statement is one word: awful but on the other hand the balance sheet is much better. Either way It doesn’t matter because this is setting up to become a good short play. If it can go up even more today it will make it a good great short play. If it doesn’t go positive, a good short entry would be on a break of 1.25 but lets all hope it continues its momentum for the benefit of pennystockers on BOTH sides of the trade.

URZ is a high flying uranium penny stock looking for more. More? Even after a quick 3-day 90% run? Yep, because looking at the 5 min chart for yesterday it made a quick intraday breakout in the last final 5 mins of the trading day…would’ve been a great buy then, had I seen it. Anyways look for this one to gap up and keep booking it today but hey I don’t care, it just sets up a better shorting opportunity.

DDRX honestly? Come on already and drop! I think I’ve featured this penny stock 6 times already mentioning it as a potential short. Hopefully today we’ll see the big down move we’ve all been waiting for. Definitely my #1 possible short.

LNET deffffinitely reminds me of DDRX in the fact that the charts are somewhat identical and they’re both steam-rolling because of great 1Q earnings BUT there’s one problem. LNET’s RSI indicates that it is more overbought than DDRX, go figure? LNET’s chart displayed a steeper downtrending slope before it’s run up when compared to DDRX leading me to believe that LNET won’t make a DDRX type earnings-run simply because of bitter shareholders from September’s and October’s Tank. With that being said these shareholders bagholders might unload there shares on this already good run. Possibly lean towards more of a short than a buy at this point on this penny stock.

And of course Swine Flu Stocks

Does history repeat itself?

AVII

BCRX

NNVC

NVAX

GNBT

HEB

SVA

SUWN

PURE

It is going to be crazy today! Swine Flu Penny Stocks are on full throttle….BE CAREFUL TRADING THEM ESPECIALLY IN THE MORNING. If I buy any bird flu plays it will be on intraday highs. If you’re going to daytrade them wait til the volume fades a little bit towards the afternoon. I’ll give you a list of the bird flu penny stocks..but first lets get to some non-bird flu picks….

DDRX been featuring this penny stock for some time now because of its 200%+ rise off of good earnings. Yea yea I know I said I don’t normally like to short earnings plays…but this is getting pretty over-extended and with the bird-flu epidemic I think we could see this penny stock drop today. I might go short on a break of 7.20 on good volume.

CBL it’s a legit company..and is actually not a penny stock (Am I breaking the rules!?) it’s still low priced though at 7 dollars. Only reason I’m featurin’ it is because its gone up 80% plus on only an analyst upgrade. Sure it’s good news…but for the long-term investors. Remember, I’m a trader not an investor! Short term I think this stock may just give us a lucky chance to short especially looking at the 5-min chart seeing a OBVIOUS support line at 7.71. If it breaks it look for a good short fling.

LVFN another 52wk high on an increase in volume….Potentially a definite buy only if it opens at .91 or above AND if I’m not tied up in anything else like those down there ↓

Swine Flu Penny Stocks

BCRX

NNVC

NVAX

GNBT

AVII

HEB

SVA

VICL

SUWN

PURE