Good Morning! First, my incoming email was down Saturday night until Sunday around 2pm EST so if you sent anything over, be advised it didn’t get through.
The new chat room install is 50% complete but was slowed down by the server hack we experienced. I am thinking I should have something to show you by Wednesday. The chat room will be a powerful tool for trading and teaching so I can’t wait to get it in place. Everything from voice to video, it’s a top end product. I am also adding a ‘School’ section to the website today which is where I’ll start to compile FAQ’s, lessons and much much more. Also starting a referral program that you can make some cash on if you have a trading network you would like to share my business with — details to follow.
Finally, I want to welcome everyone from StockHideout… having been a previous owner and administrator there, I am thrilled you’ve decided to join me here and look forward to trading with you.
So I am entering the week with 3 positions… let’s get started!
My latest addition was ZLCS Friday as you know. I grabbed 5k shares at $2.48 and expect this ascending triangle to breakout this week. The had good news this morning and more and more traders are taking a look at this biotech daily. 10% puts my target at $2.73 and like USAT, there is a chance for more if it starts trucking out of that chart pattern, known to be very bullish. Like all my picks, small market cap here around $236m so it can move.
I have 10k shares of USAT from my purchase Thursday at $2.33 and I’d like to get my normal 10% rinse and repeat out of this. They had good news last week and I’d expect their price action to continue from here. There is a chance this ascending triangle breaks the $2.50-$2.60 range — just not sure I want to stick around that long to find out. Honestly, from my entry at $2.33, a target of $2.48 – $2.56 would be great depending on the price action. Keep in mind, it could move quick if it bust out of that triangle pattern, but we’re still a bit early for that here… maybe 2 days or so.
Finally, 5k shares of LOCM at $4.30 and I am looking to grab 5k more in the mid $3’s if I can find good entry. Short term goal of $4.50 or so with plenty of upside due to small market cap and a hot sector.