Here is what’s front and center right now. Trading however, its a dynamic process with constant ongoing assessment so be ready for changes on the fly. If you work during the day and you want to follow my buy and sell strategy I suggest you pick up a smart phone and load your brokers software to it. I taught for ten years and know what it’s like to work and trade, proper tools are important and a smart phone with internet is a good investment for this hobby.
I picked up 20k of LEXG at $1.45 with a goal of $1.55 – $1.60. I’ll be using a tighter stop on this one after ALZM because like ALZM, it’ll probably dip here soon and I’d prefer not to be in another waterfall anytime soon. As you know, I’ve confirmed there is a big campaign behind this one, had I know earlier I would not have sold my first position. What we don’t know is how much of that $3m plus campaign is left. Here is one of the mailers that went out already, the only thing that should interest you here is the 7 digit number in the disclaimer. Essentially what that means is a lot of advertising has already occurred or is about to start. Like ALZM, I’ll be watching this very closely… it moves up slow and down slow right now but you never know when that could change.
Still holding my 5k of LOCM I bought at $3.63 on Tuesday. It closed strong yesterday at $3.89 and I am still looking for $4 plus on this one. If it does break the $4 range it could move pretty quickly up to $4.50 before it hits decent resistance so I’ll probably look to take profit before there.
Around 9:50am yesterday, LUNA ($32m market cap) released news and ran from around $1.80 to $3.60 in a matter of 20 minutes. It proceeded to retrace 60% throughout the remainder of the day. Possible 10% retracement flip opportunity here. If you’re new, retracement is decline that retraces a portion of a previous advance, or an advance that retraces a portion of a previous decline. Retracements typically cover 1/3 to 2/3 of the previous move, and a retracement of more than 2/3 typically signals a trend reversal. In the case of LUNA, the pullback is about 61% so we’ll need to see how this opens up first.
I am also watching GVRS, EGYH and GNBP to see if they start to pickup action like UTOG, ALZM and LEXG did but no play just yet.