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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
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You are running a solid service here.