Well, I guess the question could arise...what exactly is that dude Eichler playing? ggg
Well, I have long ago disclosed that I'm a penny stock player... I don't recommend it for everyone. In fact, the way those charts move around, the emotional ups and downs are brutal....
At one point, I would wait for the break-out...which can often turn into the fake-out, a frustrating development which leads to loss or bag-holderdom, neither very appealing.
Currently, I have been patiently waiting for basing pennies on my watchlist (BTW from a fundamental point of view...NO penny stock play is a good long-term play!) and try to get in at the lows and wait and wait for the eventual pop. I am taking in returns of 20%-100% on plays like this.
Also, when the market as I perceive it is heading down, I prefer to sit on the sideline and wait for the more favorable market conditions of rally (ST rally is OK by me).
Currently, I have only one play on my table.
NCNT:
home.earthlink.net
First, I notice that capitulation high volume day of 3.5 mil shares on 7/30. I look for the basing action in the form of a relative flatline to follow. As the Daily Chart stochastics begin to improve and ADX look improves, I target the 30ema on the daily as my potential upside target which happens to correspond on this chart to the low of 4/6 @ .31. From the current range of .10-.13, this represents a decent % gain.
Hey, two pennies from say .12 is 16%! Quite often, a break-out suddenly attracts buying and a run ensues. From .13 to .20 is a 54% gain, IMO an obtainable target. More often than not, I find myself taking profits too conservatively and watch as my extreme target (.31) is hit or exceeded. Not a horrible problem to have...gg
Please note that I am not trying to convince anybody to play my game and I am not pumping any of the stocks I play. My view is that all of these stocks are POS stocks and they are not to be held past the obtaining of a good % gain. They always come back down...ready to play again, and again.
My purpose in disclosing this information is to point out that I am anything but a "normal" stock player and although my game is risky and can easily raise one's blood pressure (ggg), it can also be very profitable. These stocks go when they feel like it, they have a mind of their own...but I like it! ggg I might sit on this for a week, or I might bail if I see some disturbing action and jump over to something else (there's always something to play!)
Just see how it goes......
Remember, I am not recommending this mad method of playing stocks, just letting y'all know that I am a wild and crazy player.
Yeah, I can read a chart. I can follow along as much "better"
stocks make their moves from say $40-45....I just have no interest in babysitting charts for that kind of a gain....not worth my time.
So, now you know....
Best of luck to y'all and keep doing what your doing...
(BTW - I'm up over 400% since April...which doesn't prove anything, IMO) |
