Penny Stock Watchlist 11.19.10. Trading is Cruel!

EXEL IRE ATML LNG MGIC ZAAP and the usuals. URRE MCP REE BORN CCME

The market shows no mercy and regardless how good you are or how much research you do, every once in a while it bites you hard. Today all the perma bulls of ASTM learned this lesson. It’s difficult to play news and major events because you do not know how investors will react. ASTM’s positive webinar did nothing in the way of assuring the big money investors and the stock was punished. Lesson, if you play earnings, FED announcement, etc. Only trade what you are willing to lose.

Here is a tribute video of a trader who was long ASTM. It’s cruel. Sorry, had to do it.

EXEL

Big runner from positive data on mestastatic castration resistant prostate cancer. Not sure that data is enough to hold it up Friday. We will see as today offered no short opportunity. Will stalk weakness tomorrow.

IRE

These Irish banks may start running from the EU rescue package. This should be a long play for Friday providing it doesn’t gap up too much. I wouldn’t hold it over the weekend because I don’t trust the strength of the rally yet.

ATML

Had this as a buy but thought about shorting it today. Perfect bull flag breakout so I thing it hits 10.50. Failures in that area will be shorting opportunities. I don’t mind buying this but I’m slow therefore I will probably miss the buying opportunity and be forced to short

LNG

Did nothing on Thursday is a monster market. The chart is tapping on the highs but it’s done if it can’t get past $5. Me thinks it doesn’t and it will roll over.