As you know, there are big potential gains in penny stocks. But penny stock trading is hard work and requires greater attention to detail as compared to buying the big boys. In my world, there are hundreds of companies out there I sift through daily, trying to find the best opportunities. For you to be effective, you need to understand charting and Level II, period. It’s like playing baseball with an aluminum bat. This education will save you thousands of dollars in the long term and I’ll make sure I teach both of them too you in the short term. So look for videos on charting, Level II and scanning in the near future. We’ll really ramp this up once the chat is up and running. I’ll do classes during the day and at night for anyone who wants to learn.
So Friday I emailed you about ZLCS and how I picked up a starter position of 5k shares at $2.48. Well in watching the 1 minute chart this afternoon it broke out to new highs confirming my suspicion that this will be a bullish week for ZLCS. Given that the market is getting pounded and ZLCS continues forward I bought another 5k shares at $2.59. I now have 10k shares at at $2.53 and am looking for a breakout into the $2.70’s.
I don’t like to have a lot of large positions open at the same time, so now that I’ve added 5k ZLCS I decided to reduce the size of my USAT position from 10k to 5k shares. Just so you’re aware, I have no concerns about USAT right now but didn’t want to be holding 10k of both. Last week it appeared as if USAT would breakout first, but it now appears ZLCS could break the top of its ascending triangle today. Either way, still bullish on both.