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29 Apr

Watch List For April 29, 2011

by

Good morning and TGIF! I have no positions today so there is a good chance I’ll be trading and here are the stocks I am looking at.

Challenge account balance: $7,088 up 0% in 2011

Main account balance: $234,484 up up 12.73% in 2011

$.25 – $1.00

XNNH is a provider of high intensity illumination and night vision products and they have over $2m in cash on hand. Back on February 9th they announced net income of $742k on $3.5m revs. It sold off on the news hitting a high of $.65 leaving me to believe the current pullback price is attractive here at $.39 heading into Q2 earnings which they have indicated should be profitable. This will likely be my first ‘Challenge’ account trade today, but I still need to see how it shapes up. Trade goal would be aggressive around 50% because like LQMT, this is a real company with net income, revenues and big contracts. With a $10m market cap, it’s a true penny stock and could fly on the right kind of news. Also like LQMT, volume is an ongoing concern but it might be worth the risk.

$1.00 – 2.00

Like most penny stocks, PURE has it’s fair share of problems and with that comes bashers on the message boards. Just the same, their PR department is trying to build on some recent momentum and I think this could be a good short term 10% trade from the current price of $1.30 up to $1.60 resistance. I’m not sure whether or not their products will catch on but this bottom could provide us with a $.10-$.15 cent opportunity. News is out this morning and it’s not significant so well have to see how it’s trading early on. If it looks bullish, I might test the waters.

$3.00 – $4.00

Could GFRE be making a historic come back from the depths of the ocean? They still have not been pinned as frauds which means it’s still possible that shorts could get caught on a rocket ship to $5-$7 and possibly more. I took a beating on this one from my $5.50 entry but beat it 2/3 times yesterday for $650 in profit and I can’t say that I won’t day trade it again due the high probability of getting caught in a squeeze. I couldn’t wait any longer for the squeeze yesterday because I need to have time to text and email you but it did start right at 3:55pm and carry over into after hours. Current price of $3.57 I’d be a buyer if it started racing again.

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