5 Stocks In Play Right Now: Day Trading Charts For One And All!

Posted by timothysykes on Thu 10th of Apr, 2008 08:51:39 AM

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Yesterday I posted charts I was watching without commentary, thinking–or hoping–you guys were beginning to understand this game…other than 1-2 correct answers, the lot of you are still lost…tells me I’ve got a lot more work to do! That’s fine, bring it, one opportunity at a time…here’s today’s watchlist in order of the likelihood of me playing them:

(COT) Multi-day breakdown if and when it cracks $3.25, several failed tries now, scary scary stock to short…got me thinking that even if it does crack, it might still bounce…we’ll see

cot3 5 Stocks In Play Right Now: Day Trading Charts For One And All!

(NOG) Who says the 3rd up day of a big runup is usually a down day? Well, I do…but not when it’s during a multi-month breakout on solid news with a solid base just $2 below…last time this thing spiked, it jumped 55%, that would put a similar spike at $11..before shorting, wait to see the whites of their eyes!

nog 5 Stocks In Play Right Now: Day Trading Charts For One And All!

(ORGN) We talked about this one yesterday and some of you profited nicely from shorting into that financing-news-induced-spike, let’s see how it plays out, I’m in no rush to short a stock already 50 cents off its highs

orgn 5 Stocks In Play Right Now: Day Trading Charts For One And All!

(VLNC) You think I’m cynical when it comes to these ~~fraudulent~~ crap companies, helllll no! I don’t do the digging not only because it’s safer to think the worst of each and every company (you’ll never be disappointed1) but because I’m afraid of what I might find.. Citron Research has no such qualms, check out their review on recent high-flyer VLNC. Scary stuff, these guys have a good track record, so you gotta respect their influence.

TIM Lesson: Never be long a Citron Research-covered company….ever

vlnc 5 Stocks In Play Right Now: Day Trading Charts For One And All!

(GBRC.PK) Nice little two-day spike, but it’s really not up enough and it’s tough to find shares to short, boooooooo

gbrc 5 Stocks In Play Right Now: Day Trading Charts For One And All!

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Related Reading

Hot Stocks: 7 Solar Stocks To Day Trade aka How I Will Short Them! March 27, 2008
Where The Volatility Is, aka 5 Potential PennyStocking Plays March 4, 2008
Some Signs Of Life In Several Small Caps February 19, 2008

GabeC

How about BPAX Tim. low volume. Looks just like PSTI

Samuel

Yes, you committed to teach us, so we need to learn, explanation would be great opportunity to learn and understand. Without explanation, for example, TITN yesterday was breaking up into a new 52 week high but failed and dropped back. Had you shorted that one at open and waited 15 minutes, you would have 1.5 points gain. But it bounced back made 52 week high, and then at closing, it was all red. Without keen eyes to look and bright mind to understand, you will be toasted. Thanks for descreptions on each chart today.

timsykes

bpax, still 30 cents away from breakdown, probly not gonna happen today

TITN, i don't short breakouts, risk reward sucks...i dont buy titn either cuz of so many failed breakouts

t-digg

Missed the damn PSTI spike, in at 4.50.. Tim you still in this?

timsykes

covered 1/2 at 4.40, not liking these big buys and its inability to crack this 4.35-4.40 crap

timsykes

cool guess i covered 700 not 500 shares, good i'll take that, reduces my risk and i have no problem holding these 300 shares, either cover when it cracks or add when it spikes

monkiman

thanks for the charts tim, you should make a paysite for it and allow members only to view it. $2.95 a month, or something like that.. hell, I wouldn't mind paying $10 a month.

made alittle money on IMMR

ViciousChicken

Early to tell, but it looks as though NOG may be finding resistance around $9.75, and may start to go sideways around $9.50. How much of a drop do you think we will see from this between today and tomorrow?

GabeC

IMMR is dropping drastically. I got a good short this morning, hope it continues.

timsykes

no, this'll never be a pay site, maybe a premium feature somewhere down the line, but i wanna open this game up to everyone, too many bastard pay sites have kept it a closed society for too long

nog, i hate commodities plays, i hate amex, i doubt i'll even play this one unless the price action is really exemplifying an afternoon fade

A

Thanks TIM. I don't sign up for pay sites. Am a 20-something who has lots of bills/college loans/rent to pay every month. Need to conserve every last dime if I want to have any trading capital. Thanks for keeping your site open to us common guys.

Samuel

NOG, already faded, down at $9.15, probably will bounce back, a guess.

Max

hmm, prts cracking soon? can't seem to bust $4

timsykes

yeah NOG mornign breakdown not ideal for me

PRTS so what if it does crack, what its gonna do go up 20-30 cents max? booooooooooooring. focus on volatile stocks

Andrew

cot!

TechTrader

Tim-

Do you think the penny stocks follow the Japanese candlestick patterns any better or worse than more widely traded stocks?

Thanks

GabeC

bye bye COT

timsykes

damn cot, couldnt wait til the afternoon that sux

of course i think penny stock charting is more effective, there's no fundamentals, technical analysis is your only guide whatsoever

Tony Ellis

MBRK trying to breakout. Needs some volume,

timsykes

problem with MBRK is its a turd, got a lot of conservative thestreet.com investors in i t and like taking their 5-10% gains, makes breakouts tough

A

Thanks for the Citron Research link TIM. Now that is TRUE FUNDAMENTAL ANALYSIS.

Andrew

COT isn't moving! I'll never understand what dilweeds are keeping this POS alive.

Andrew

They make RC cola for fucks sake!! Anyway, support is moving in price. Everytime the stock moves up a cent, big orders move up a cent. Prolly need to see a real crack to jump in.

timsykes

ignore COT's fundamentals, this is a morning breakdown, not as reliable as in the afternoon

cacaosteve

PSTI just cracked 4.35

cacaosteve

for a few seconds...

Andrew

NCEN taking a hit all of a sudden

timsykes

4.35 isnt as important as 4.30 and 4.25 (u dont know the exact suport point, just judging from big block buys there)...not gonna be easy to crack, volume is anemic, reserved another 1,000 shares to short just in case

NCEN should get hit, it was a dead cat bounce

timsykes

covered the rest of PSTI at $4.37 up 14 cents/share, too many big block buys, anemic volume, taking too long to break support...this is just me being me, still have 1,000 shares to short later if it ever decides to take out 4.30/25 convincingly

Fleeter

Since you are mentioning it right now Tim, when you "reserve" shares at ToS, are they simply setting aside the amount you ask for? No fees involved until you put the short into play? If so is there a limitation to how long they hold the shares for you?

(I asked this in the Q/A forum last night if you want to reply there.)

gerlando

Tim,

Could you give a quick how-to on reading Level II charts? I know you mentioned you don't use them much but you keep referencing them. What do large orders on the bid and ask sides tell you about the potential price movements?

timsykes

fleeter, just answered your Q in the forum

COT just cant hold up, really wish itd go sideways, ah well missed out on 10 cents/share....so far

timsykes

gerlando, on the new site, there's gonna be many basics articles, reading level 2 will be one of them

Jeff C

Tim, will you have screenshot examples from TOS of what you see, ie level 2, screen configs, etc. Thanks.

timsykes

'll have screenshot but it wont be from TOS, i use etrade pro cuz i've used them since my big $ days, i dont use them as a broker just for visuals

Jeff C

You know that's what I do as well, partly because I can't see Level 2 buy/sell blocks, not sure what I need to do to see them...

eric

Tim...I cant wait for your Level II tutorials! Ive never been sure if Im reading them correctly. Thanks!

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See Tim's full bio HERE. Tim turned a few thousand dollars into a few million by taking small gains time after time on hundreds of volatile penny stocks, discovering that his trading strategy, while consistently successful, works best for those with smaller accounts.

Determined to teach others this PennyStocking trading strategy (learn more HERE), he went back to his original $12,415 roots (already $58,000+ even though the stock market has crashed) to show everyone how to turn thousands into millions, even while having a life (somewhat) and making plenty of mistakes. Currently he is the #1 ranked trader out of 25,000+ on Covestor)

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Hard work, Determination and Know How.

Hard work to learn how the greatly misunderstood niche of penny stocks provides opportunities every now and then on which you should pounce.

Determination to seek those probable profits out and know how in order to actually profit from them.

Long story short, wait for stocks that are extremely volatile - for whatever reason - and then aim to take small profits (between 10 and 50% within a few hours, days or weeks) here and there, either from betting on higher or lower prices (yes, you can make $ betting on lower prices, it's called Shortstocking (learn more HERE).

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As Tim explains in several ALL-NEW instructional DVDs (see them HERE) and in over 2000+ blog posts, penny stocks are the most hyped and corrupt niche in the entire investment world. These two qualities make them the easiest to profit from (legally) because the vast majority of people who play penny stocks are suckers and all-around ignorant people. If you have any intelligence whatsoever, you have a clear advantage and it's like playing basketball against mental midgets.

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View All

Date	Stock	Buy	Sell	Net
Nov 6	QXM	$4.31	$4.80	$1936
Nov 4	COT	$8.66	$8.88	$642
Nov 4	QXM	$4.61	$4.89	$822
Oct 30	DDRX	$25.70	$26.53	$812
Oct 29	CTDC	$4.00	$4.42	$781
Oct 26	AWSL	$3.24	$4.10	$2516
Oct 23	RODM	$5.27	$5.23	$301
Oct 22	AMLM	$2.69	$2.97	$820
Oct 22	USEG	$6.12	$6.09	$85
Oct 20	CBOU	$8.93	$9.06	$243
Oct 16	VRMLQ	$16.79	$18.65	$2773
Oct 13	YONG	$11.05	$11.66	$1202
Oct 13	NPHC	$0.59	$0.71	$583
Oct 12	IMGG	$0.60	$0.70	$682
Oct 9	ZAGG	$5.50	$6.10	$2380
Oct 7	GVBP	$0.03	$0.27	$702
Oct 1	NPHC	$0.70	$0.85	$1482

Total: $92,304 (644%)