Friday Oct 23rd, Premarket Analysis (Penny Stock Alerts)
Today in the Stock Market
Good Morning to all,
Almost ready to fly back from China and it’s been a very interesting week on all fronts even the trading has been one of our best in many weeks, with so many hot plays. Now i want to highlight something to all of you: in order to survive and prosper in the trading arena you need to know how to manage your money, your positions etc..I like to think and look at it as a poker player would or any other type of gambler for that matter. The reason some guys are able to become Pro Poker Players is because they manage their money (hands etc..) very well. And they know when to push or just retreat, and i think all great traders would agree that the similarities are even deeper than that. So that being said, i hope you managed to add at the right time on all our trades this week and to take profits out when it was time..As excxiting as it can be when you see your stock flying you need to pace yourself and take some off the table….
To do that you wait for the right reversal sign or slow down…get my 3 DVD course…to learn some more…
And believe me it’s not that easy, it took me 100’s of swing trades if not 1000’s to get this under control….so do not despair…it will come if it’s not there already.
Now let’s look at the DJIA:
A bullish day on thursday with a retracement of that red bar from wednesday, this is bullish most definitely…will it have what it needs to cross the last few highs…
AWSL:
We had an amazing ride on this one..an expected profit taking was to be expected. It can be short seller as well, but it doesn’t matter the chart is saying there was selling happening. What i like is the way it bounced back from $3,00…it must have been nerve wrecking if you were still in it…
Now i will wait for another buy oppty…when it shows….using 60min or daily chart
KNDR is holding well…
WTAR :
I am looking at the resistance of august around 0,05 to establish a support here and i was on the bid yesterday got some but it bounced by 0,015 in no time intraday….i am patient with this new rentry on this one i think it could be a great other pop…look at AVOE below to see what i have in mind…
AVOE:
It was on my watch list with an alert at 0,75 area and it triggered an entry yesterday (thursday), this one could move much higher with this type of momentum. When you see a stock moving like this through levels of price on 1M shares of volume it’s great….it means it can go much higher. Now if you did not enter yesterday (by the way this stock we covered back in august almost at the top mentioning it needed to reset…so it just did..)(i don’t have the exact date of when i talked about it but it’s in there somewere in August..)
If you get in now make sure you use a 60Min charts or 15 min charts and use the right stop loss….
MEVT:
It definitely was tough to get a decent entry after such a gap and the only way to do it safely is to use a 5 min rule entry which i teach sometime and even that was tough so i had to pass on this trade , we will see if it gives us a better entry at some point..
Finally MSBT and SCLX had well deserved pull back, another 2 great trades that finished well for us for this week….
Have a Great Friday and week-end.
Stay tuned over the week-end, i should have a few interesting things…
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