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6 May

Watch List For May 6, 2011

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It’s been a light week of trading, but I won’t force it just for the sake of trading. My swing trade of the week will go out on Sunday night, expect a detailed report on one stock I’ll be looking to trade come Monday morning. I’m working with my programmer today to setup a section on the website isolating it from my other work.

$.25 – $1.00

MXMI has my attention since it refuses to sell off it’s recent run. No play right away but the longer it holds that bullish move to $.022 the more I think this could have another explosion to the $.04 range which would be really nice. Problem is, it’ll need to have a volume day like it had recently for me to get in and out safely.

I wouldn’t be surprised to see LQMT cracked support at $.44 today and closed around $.42. Each day no buyers come to the table the pps continues to get weaker. Support after $.42 is around $.33  so we’ll see if the $.44 range can stand the text before a catalyst is in play. This will be a trade for both accounts sooner or later, so get familiar with the stock because I’m looking for a nice payday on this one and it’s worth repeating every day until it happens. Entry right now on this lack of liquidity would mean just gambling and that’s not my style.

I’ve been accumulating GSTPE so it’s technically still on watch until my position is filled. This is thinly traded and speculative in nature… accumulation is a tactic of getting in before an anticipated move down the road. The idea is to slowly gather shares on the bid. As detailed in my Live Alerts, I’ve been accumulating since Wednesday and now have just under 14k shares at $.21. This is not a stock I’ll buy on the offer, I’m just sitting on the bid at $.21 or lower waiting for bag holders to turn over their mistakes. Those of you who have been with know I’ve used this warfare method before (i.e. CHTL etc…) and that’s what I’m looking for here too. As you can see I’m in no rush to get my shares and have no plans in climbing the bid should someone jump $.21.

PLPE volume is fading away as interest in the stock fades away. There’s probably still some bag holders from the $1.10 run so I’ll wait to see if they beat it down a bit more before considering entry into it’s next move. Support is at $.72 and $.62 and there is no immediate catalyst in play. My guess is this will become a momentum news play for me at some point. I’m 1 for 1 on this stock recently and I think 2 for 2 is coming soon – but not yet.

$1.00 – $3.00

OXGN is a stock I’m considering as a swing trade today. It closed very strong yesterday engulfing the previous days dip which is a very bullish sign – especially considering not many stocks were green yesterday. With a market cap of $24m, this one could really fly if it can break resistance around $2.60. But even if it doesn’t break $2.60 and just trades from $2.35 – $2.60 today there is a nice 10% there alone. I’ll watch to see how it opens, but don’t be surprised if you get a text message and email on this one today.

GPL is a Canadian based mining company with two silver focused mines located in Mexico. Silver may not be done selling, but it is close.  Silver producers are not getting hit anymore, so they could turn soon and I’ll be looking for a possible entry here today.

$3.00 – $5.00

JAMN and JBII are paid pumps and it’s often the case that when the advertising money runs out, so do the buyers. Hence great short opportunities and I plan to start getting in on this action. I mean seriously, how does shorting not fit into my penny stock warfare strategy? I’m working on setting up accounts with the right brokers so I can get shares of these turds when the time is right. Short selling stocks under $5 isn’t rocket science but it’s not as straight forward as going long either.

LOCM is a trade I’d like to make again, just need to time it right. My bad timing trying to flip LEXG and LEE this week illustrate why entry is the single most important part of trading, period! It’s quite possible this will hit $3.20 before it heads back up so there is no reason to rush in right now – it’s simply not going anywhere until it gets a bit further away from earnings and starts working the PR’s again.

 

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