In my post to which I am here responding (regarding the Penny Stock Game, which I am now playing), I wanted to update and
provide other relevant links regarding the subject for anyone
interested in this highly lucrative idea.
Message 15169482
Message 15173932
Message 15202682
Message 15204887
and finally, the following post contains the link for the screener I use/used with great success
Message 15207739
Strangely, when I copied the URL for the screener onto my post, the screener template erased from my screener page...have no idea how that happened. Anyway, I just bookmarked that post and just click the screener link each day after 6 p.m., voila...new list each day.
If nothing else, going through the charts each day is great practice and experience reading charts. When you keep looking at the same things (just on different charts) day after day,
a feel for the action and a skill for anticipating future action ensues. For the most part, I cull the list first looking at volume. The stocks which have no volume (under 75,000 per day and are not at least showing significant trading above average daily volume are a waste of time).
The ones with at least 200,000 volume tend to be more reliable. Second, the closer to the base the breakout is
identified, the better. Big % gains can be followed with pullbacks representing large % loss. If I score a large % gain in a short time, I'm outa there. What else would I be waiting for? Take the money and find the next victim. Or follow the stock for several days as the consolidation, flag building process sets up the next leap. Also, one of my best and more recent fine-tunings is to view the weekly chart looking for weekly stochastics turning up and nice white candle boxes growing out of the base. Early signals on the weekly mean big % gains coming on the daily! Mainly, I would say the hard work involved is just spending the time to view the new charts each day. My opinion, yet to be refuted, it that all stocks don't rally at once. When an event like this
takes place, different stocks are on their own time schedules. Some start in early, some join in later, others join in even later. As the early gainers correct off, new ones are popping. Capital and profits can be rotated from
new poppers, to flag consolidations (the break of the flag apex after 3-5 days of consolidation tends to be reliable)
to new poppers over and over again.
Presently, I am going full guns as the weekly chart for $compx has just turned up. When signs indicate the current rally is over, I will go flat or short. A newer idea I have yet to try will be the shorting of these penny stocks after
the party is over. My broker says as long as the stock is
over $5, I can short it. Anyway, I don't think I will be too concerned with this aspect of the game until, as I said, signals show the long side of the game is over.
I am sharing this system, crude as it may be, in the hopes
others can enjoy the type of gains apparently available. It's
not for everyone, but it is sure fun when one's eyes are open
and the $$$ are rolling.....
Best of Luck,
Eichler
I am open to discussing any of these ideas and considering refinements and suggestions. Feel free to ask, or ignore as the case may be. |
