Today is about refocusing because I’ve been overtrading. After about a decade of trading stocks under $5, the biggest thing I’ve found is that less is more.
So having said that, I plan on scaling back the watchlist to just a few good stocks that I’ll be trading. This should help you understand my strategy more and increase our success rate. Learning and adapting is what this is about, not ignorance and overtrading. It’s been about a month since I had losses, nothing wakes smacks you in the face harder than that and opens your eyes to assessment.
Here is what I’m focused on today. Remember, never follow my trades blindly… learn my strategies so you feel more comfortable with entries and exits. I am not perfect by any means but my 70% win rate on Profit.ly shows I right enough to make a living doing this. Learn from what I do wrong, copy what I do right and you should be able to beat 70%.
There is a strong chance TBBC is trading in the $1.50 – $1.60 range here real soon. If you’re new, this is rumored to be a very large budget stock promotion down in the near future. When I first caught wind of this I bought shares at $1.22 and sold on the pullback for a small profit. Now I think it’s setting up for a 5% a day run so I’ll look to add. Always have your hand on the sell button with stocks like this because a large seller can impact the share price real quick if they dump on the market.
PSUN has earnings next Tuesday. With a short interest of over 10 days to cover and a large amount of insider buying in March there is a possible short term trade run up trade here. Now that it’s pulling back I’ll watch for entry around $3.50 which is support and sell before $4.00 heading into earnings. If it turns back up and breaks $4.00 I’ll look for action between $4.00 and $4.50. There is the chance it just fades back down to $3.00, only insiders know whether or not those earnings are good.