My Weekend Plan

The stock market continues its rollercoaster of a ride.

Let’s face it, there is a lot of uncertainty in the market…

And if you’re trying to guess where the market’s bottom is, it’s like trying to catch a falling knife.

But the stocks that I look for aren’t impacted by the performance of the overall market.

As the market continues to reveal itself, I am continuing to focus on what patterns have served me well for over 20 years.

Heading into the weekend, there are certain plays that I continue to look for…

If you are wondering what I look for, you’re not going to want to miss this…

What I look for

Imagine placing a trade before the market closes on a Friday, and then you go about living your life.

Then on Monday, you wake back up and your trading portfolio jumps 10% or more…

This is how my weekend pattern works.

But what exactly do I look for?

There are 3 key things I look for on a Friday in order to prepare for a possible weekend trade.

Big Percent Gainers – Stocks up 20% on the day
News Catalysts – I like to see what’s causing the stock to move (i.e. News, Earnings)
Chart Pattern – There has to be a specific pattern for me to trade it. Here is my favorite pattern to use.

Every Friday I am scanning the market for stocks that are big percent gainers.

Why? Well, this is important because you want a stock that has a lot of momentum going into the weekend.

It’s all about the hype, and this is something I look for every day in the market, not just Fridays.

Let’s take a quick look at my most recent weekend trade…

IPO stocks have been red hot over the past few weeks, and GGII had their IPO spinoff set to open up on the NASDAQ.

With this news, it gave me confidence that there was enough hype being built up on this stock heading into the weekend.

News can help propel any stock in either direction, so it’s important to make sure you are aware of how this catalyst can impact a stock’s price.

When I look for these big percent gainers, I scan the web for news on the stock to see what is causing it to move…

But I also use StocksToTrade Breaking News for any breaking news alerts that could send the stock parabolic.

But there was one more step I needed to check before I placed my trade…

Chart patterns are always important to look for, no matter what day of the week it is.

I have continued to tell my students that chart patterns repeat.

Let’s take a look at GGII and its chart history…

Notice that GGII was a previous Supernova, which gave me confidence that this stock could spike again.

Chart patterns are always important to look for before placing a trade.

If a stock has historically traded choppy, you may want to be cautious as to how your trade may play out.

I like to stick with the basics and with what I know works best for trading these types of penny stocks.

This may seem simple, but no trade is ever guaranteed.

You can always learn from past supernovas…

But it all comes down to being able to recognize and understand stock market history.

In today’s market, I am always aware of what is happening overall before placing a weekend trade.

I always want to make sure I am prepared for every trade, but I never want to miss out on amazing opportunities.

And I don’t want you either!

Study up!

Tim