Penny Stock Briefing. 10.6.10 Bulls on Parade! The market can remain irrational longer than you can remain solvent!
Stocks to watch AUMN BSDM WYY EXAS UCBI JADE
A good day for subs. Two profitable shorts in a +200 point market. The market clearly seems to have tons of buyers and there is a lot of swamp mud companies making new highs. This market is feasting on Bears. If you do a lot of short selling keep your profit targets tight and don’t get greedy. Stick with the plan is the motto for this month.
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Special Video: Why you should not short VHC-yet.
JADE
A 12% gainer for today but a mentioned above a lot of stocks are overheated. Jade has been a steady uptrend for the last two months, albeit slow. If market conditions are strong I thing I may buy it providing no other power plays are on the table. Today’s move was the largest over the last few months but it gave up a good share of that towards the close. If there is a morning spike and I have no position I may short this too.
UCBI
A very VG like play. This stock has given up 50% of it’s value since August but has consolidated and is pointing upward. I have this rated as a swing trade buy as I don’t think you are going to get the .20c upside/downside move in one day. I like the action off the bottom and see a short term upside target of $3.
EXAS
What a nice intra day set up we had in chat and the subs who got in on this congrats. I felt the parabolic move at the high of the day +12% was enough and I almost top ticked it . However, shortly after I covered EXAS trended slowly upwards and made a new high. This market is vicious people are buying everything. Still a great short play on weak to flat conditions tomorrow.
AUMN
I published a video and tweeted about this quadruple top intraday. By the time I finished with my blogging I missed the trade altogether. Blogging can be expensive. I still like this as a play because it has not tanked that much and actually made a nice recovery towards the close.
WYY
I like this stock as a buy as well. Received 84 mil of new contracts, not a lot but should attract buyers here. This could also be a long swing play. This to lacks the sex appeal of true trash companies but money is money.
BSDM
I missed out on a real nice short set up on this at 4.65. Thankful it didn’t mega tank because that will allow us another crack at it. I would like to see a retest of 4.70 and just hit the short there. If it drops in a morning sell off I don’t think there will be a play as I don’t want to but this not even for a scalp.