Firestorm Friday Blog - 07/31/09

Thursday, July 30, 2009 Leave a Comment

Well folks, after many moons, and waiting patiently, AMNE has finally launched. Let's hope that today was not the end of a run, but the beginning. Major resistance at .009...has been a stopping point for the last few times it ran.


GGC was a huge surprise, coming from a reverse split, which I thought was the end of the world, to a tremendous run. I was resigning myself to a loss, but will come out with substantial gain. I like those surprises.

GNBT is becoming a dying dog. It's not performing as expected, and seems to be hovering between .66-.72. I'm somewhat amazed because it's above the Ma50, Ma200, and the parsar. The last spike broke the parsar, but unlike the last three spikes, did not become a single bagger. I'm still in profit, but am ready to move on if no results soon.

WNBD is in accumulation, and I expect it to fly at any moment. It's just a matter of time. And patience.

I'll leave the other picks alone for now. July's stock challenge, which I haven't even completed it every day, stand at a gain of 58%. Not bad for starting middle of the month. Best regards, and good things to come in the next few weeks!!

 

2 comments »

  • Anonymous said:  

    Hi.

    Great blog and great performance on Covestor, Congrats!

    I have a question for you and this is to me a 100$ question because you will find a lot of informaion and books on trading system but there is one question that is always left out: Out of thoursand and thoursands of pennystocks, Who do you pick and choose the ones you will watch until they reach your entry requirements?

    Thanks.

    Andre

    August 3, 2009 at 10:22 PM
  • KC said:  

    Thanks for the question, Andre. It also gave me the idea to create a FAQ page on the redesigned site.

    Every penny stocker must have criteria for what they deem as "money making" stocks. For me, mine is fairly simple:

    1) Volume
    2) Convergence of MACD/PPO and ADX
    3) Chart pattern

    It's one of those things that I will have instructional vids on when the new site is up, and is sometimes difficult to communicate. I guess one of the best teachers for me has been failure. Last year, I lost $16,000, and it was a very painful process. Defeated, I had to pick myself up and try again. Thankfully, it's worked. More importantly, I thank God he gave me the wisdom to succeed and pick the right ones.

    August 3, 2009 at 10:31 PM

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