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27 Apr

Watch List For April 27, 2011

by

The daily watch list isn’t about finding 20 new stocks every day. It’s about finding a handful of stocks and identifying how they trade and what to look for. Since I only make several trades a week, it’s important for me to know how the stock reacts to news, earnings, support, resistance and much more. So if I repeat a stock on a regular basis it’s because it’s close to being traded. Doesn’t mean they all will but you get my point.

$.01 – $.25

MXMI failed to continue yesterday liked I had hoped for but it’s a potential buy again because after touching $.016 it regrouped to close even. I’m not 100% sure what’s up with this stock but to me it seems like someone still wants to see this thing go higher. If it looks like it’s going to break key resistance at $.025 then I may jump back in for a momentum trade. If it fades away this morning then it’s off the watch list for now.

SNEY is a potential buy if a rush of volume comes in for whatever reason and it gets above $.02 on the bid. Be careful here though because it’s jaded past clearly shows you how quick this stock can drop. Key break is $.02 on the bid and it must be accompanied by bulls for this thing to run. Yesterday was the third time it challenged that level in 3 days so there’s a good chance interest fades and the stock dips from here.

$.25 – $1.00

LQMT is still a top target for both of my accounts (Challenge and regular) but I continue to wait for liquidity. An alert here would simply leave us trading the stock amongst ourselves and that’s quite simply a stupid idea. In addition, if the company doesn’t come up with something soon it could very well test $.35 if and when it breaks $.50 support. So I repeat, liquidity is usually a sign somebody knows something I don’t, that’s what I’ll wait for.

PLPE sold off hard but it’s not out of play yet. I realize it’s hit my buy range but the way in which it did that is of no interest to me right now. When a stock takes a nose dive it’s not likely to rebound the next day so why not wait, see where it settles, allow traders to come back in and wait for news right. So still a buy from this range but I’ll wait for strong news or a good base of support first before testing those waters. I already traded this one successfully once so I’m in no rush to take a loss by jumping in too early.

AVVC is a potential buy today for a $.10 cent swing. Ideally it shakes some people out at the open and I’ll get in real low and sell before it gets back up to where it dipped yesterday which is now resistance.

$2.00 – $3.00

JMBA moved nicely yesterday after being on my watch list but I was hoping to pick it up cheaper. This isn’t the best point to get in based on resistance ahead in the $2.40 range. Buying right before big resistance is not a bet you’ll win often. It’s still in play but I need to find a price range for trading.

$3.00 – $4.00

RMTR has my attention, it’s been on watch but I simply can’t be in every stocks that’s moving. At this point I’ll watch to see if it trades sideways and possibly pick up position around $3.10 for the next leg of the run.

 

 

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2 Comments

  1. john

    hi Jason, I see in some cases where the trade was a few cents. However, you made a substantal profit. Are you trading over 20,000 shares on some trades? Also, you show only a single date as oppsed to a buy and sell date. Are you a pattern day trader, swing trader, or both?

    Reply
    • Jason Bond

      Hi John. I’m trading anything under $10 that can make me money though day, swing and short term. Yes, on some trades I’m picking up 10,000 shares of a $4.00 stock depending on my confidence. Right now I’m trading out of my main account and a small account called the ‘Challenge’ account in which I’m trying to turn $7 into a day trading account over a few years. The chart on the right only details the day I sell and it combines positions if I average up or down so to get the real trade specifics search Jason Bond at Profit.ly.

      Reply

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