Only The Best Penny Stocks To Watch For May 4th

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?

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