I have written about a number of different stocks here at BestOnlineTrades and this posts serves as a quick informal review of what we have talked about and what we have learned based on our observations.
I don’t claim to be a ‘guru’ or a ‘super legendary’ stock picker. But I can tell you that since the year 1994 I have looked at tens of thousands of stock price charts, if not more. I have spent so much time looking at all these charts that I really feel as though many patterns and setups are permanently in my DNA. If you watch something closely enough or spend enough time with it, it seems only natural that you will begin to become very familiar with it over time and know what to watch for depending on what you are trying to achieve. I have seen patterns, I have watched price and volume, I have seen really large patterns and very short term ones.
So the habit of looking at so many price charts has definitely helped to develop a good sense of what is a buy, and why it is a buy. On the other hand, looking at too many price charts too much of the time can lead to trader burnout and that is not so good either. So definitely a balance is necessary.
Ok before I ramble on too long, lets take a quick look at what I talked about over the last few weeks and what the result was if anything:
- PIR – first mentioned slightly under 2.30, hit a high of 2.84 or 23%
- JVA – first mentioned at 3.20, hit a high of 3.85 or 20%, I believe this one is going to move pretty soon to the upside.
- FITB – mentioned at 7.70, hit a high of 9.51 or 23%
- CEMJQ – mentioned at .275, hit a high of .415 or 51%
- IDOI – first mentioned at .0023, hit a high of .0063 today or 174%
- BEHL – first mentioned at .0255, hit a high of .10 today or 292%
- ETFC – first mentioned at 1.54, today is at 1.50 for a loss of (2.6)%, but I am still very bullish on ETFC and believe the upside move is coming shortly
- CNXT – mentioned today at 1.50, no change yet, still building something
- PACR – mentioned today at 2.22, closed at 2.48, or up 11.7 %
- EPEX –mentioned at .43 but said no signal given yet which it still hasn’t given.
- UNG – mentioned at 13.80, today at 12.85, loss of (6.8%), here I still believe that UNG is trying to form a longer term bottom. If the most recent lows hold then look out above. We could see a huge rally.
- PLM – mentioned a few days ago at 1.44, today at 1.67, up 16%
- SRSR – mentioned at .081 – currently in play and expecting an upside reactionary bounce.
So far we seem to be doing pretty well with what we have mentioned so far. I should say though that the current environment is one of pretty strong bullishness. It definitely has helped many of our highlighted stocks to make good moves.
If a bear market were to start right now, it could make finding good opportunities much more difficult, although not impossible. Even in a bear market there are opportunities for the trader who is nimble and quick. The nice thing is there are so many different vehicles to choose from, whether it be stocks, ETFS or options. The inverse ETFS can be very useful if a bear market were to start again. Also the gold market has a good tendency to trade based on what the price of gold is going.
The two bombshell mentions above were clearly the penny stocks that trade on the OTC Pinksheets exchange. These represent the highest risk and most speculative type of stocks. I can tell you that finding a good penny stock setup is not easy. I am fine tuning the factors that go into picking the best penny stocks, but still, the risk factors can be huge. FOCUS is the key for that market place. It is way to easy to get caught up in the hype. Both IDOI and BEHL had very good longer term patterns and consolidations to make them more high probability setups than most other penny stocks.
So flexibility is key!
We will have to see how we do going forward, it is still early, and we have really only started writing heavily here since maybe about 3 or 4 weeks ago.