Firestorm Friday Stocks - 05/15/09
Thursday, May 14, 2009
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Not a good day in the penny markets today...Seemed like good play were a little in rare supply, and projected advances seemed to flat line. Not to worry though. Some have said that I trade to much and don't give time for the stocks, and I completely agree. But my goal is profit. If I feel that my gains are in jeopardy, I will exit, even if I sell with a slight loss. This has worked for me, so you choose your own strategy. If I plot a course for 25% a week, I'll be able to retire by the end of the year. If any stock stands in my way, I'll take my losses and move on (with one exception - LGTT).
I bought SQNM yesterday and sold it today. I still believe it will turn upwards, but after today's activity, I think it might sink a little lower. I still sold at a little profit, but I expected more out of this one too soon. ACTC as I said yesterday would potentially drop and it did. Fortunately, I still exited with profit on this one as well. I didn't notice it until close, but BHBC is pinching, and should be a good day tomorrow. CRGN looks good for a small gainer as well. CHRTQ might need to bake a couple more days. I also bought a little XDSL, so we'll see what happens there. My heavy pick is ANDS. I got out yesterday, and glad I did, since it sunk a little lower. But got back in today... It still may hit 2.00, but that would be the support from a couple days ago, so who knows? If it does, I will buy more at the lower price. Should rebound to the 3.00-3.50 at the bounce.
Choose at your own discretion - I wish I could be 100% all the time, but if you deal with pennys, sometimes charts don't always tell the whole story, and surprises always happen. Some stocks to look at:
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