Penny Stock Watchlist 8.3.10 Video is of the return of VRML a.k.a VRMLQ last years big mover. Text is of AMOK GERN BJGP SMTX
AMOK
Another round of promotional mailers arrived at my mailbox today. Very glossy with 15 pages of charts, graphs and a million words of research. Not only was this a fancy mailer it was signed by “The” David Terry, master trader and investor! Nothing like a guy with two first names to signal fraud. Unfortunately a lot of suckers are going to fall for that trash and get schooled, never to trade penny stocks again. Don’t be afraid give it a day or two and this thing tanks. Look at the chart, that’s all it has ever done. I would like to see it stretch above 1.70 so I can short this hard.
GERN
Gaped up two days in a row from 4.60 to 6.50 where it fell apart from there to the low 6’s. The writing is on the wall for this one. As always you would like to have another gap up then some weakness to short into, that would be the perfect set up. However if this thing starts tanking I would be ready to short at 5.93. Not interested in buying.
BJGP
Started out sideways and as soon as it passed 6.65 it was lights out. Then it just stopped and that was a big let down for the day because it looked destined to pass through 6. However, that is a good thing for today as there is much downside left on this and for those who missed it today, tomorrow gives you another chance. look for a break of 6.20
SMTX
I shorted a small amount of this at 3.30 because the chart looked overextended. At times it flirted with crashing only to find a buyer or two. Could have made tons shorting at 3.34 and covering at 3.24 because thats where it stayed over and over. Pretty uneventful during the afternoon session. I decided to hold my position overnight and may average up as long as it doesn’t go parabolic