Some will argue that my top 3 weekend stocks to watch moving 10%+ in the direction I thought they would proves nothing. After all, maybe my blog is simply popular enough to help these patterns become a self-fulfilling prophecy.
But when you throw in a decade of me making millions of dollars off these EXACT kinds of chart patterns, it’s hard not to believe that they are PREDICTABLE! Because they are shining examples of the plays on which my instructional DVD PennyStocking focuses. So just get it so I don’t have to explain/mention as often! That might’ve been rude…whatever, be cheap, sign up to my RSS feed and try to piece everything together.
Enough blabbing, let’s talk shop:
Top Weekend Pick: Short (SYNM)—I’d hope to short into another full day of gains, but the weak open (double top at $1.25ish) coupled with sad volume meant it was gonna tank, either hard or soft, no way of knowing…so when it went negative on the day, taking out big block buys at $1.21 and $1.20 and within seconds it dropped to $1.15, I thought’d I missed it…luckily the optimists bounced it back to $1.20 and I shorted 3,000 shares there around 10am…barely getting all my shares before it fell back to $1.16 x $1.17
Then the real question: could it take out now 2-day support at $1.15…didn’t look good for an hour or so…lots of big buys…but there wasn’t any bouncing higher so I held—not content to make 3-4 cents/share. Right before 11am, $1.15 fell hard, stop losses took out $1.12, then $1.10, then $1.07!!!! Gotta love buying into those automated sell orders, it’s like surfing a wave, covered at $1.07, $370 gain, 11% on my money inside an hour…rest of the day irrelevant, not up enough—nor could I risk my precious day trades—to bet for a fall under $1 although odds are slightly for it. Next!
#2 Pick: Buy (WSCI) on breakout of $12.15, breakouts over multiple timeframes converge there…shorts will be squeezed, intensifying the breakout. This one broke out to $12.25ish right at the open, but volume was weak, so I really thought readers of my blog made that happen, didn’t wanna risk it—wrong, wrong, wrong, even if it was readers, stock broke out PERFECTLY so by 1pm, it was $13.50+, a 15% gain, damnit, you readers better leave a comment and say you took advantage of this, otherwise it’s a perfectly good chart pattern wasted! Please guys, c’mon, whether your or I got the $, I take pride in pillaging the market, speak up if you’re out there!
#3 Pick: Buy (VISN), opened just above breakout target of $13, didn’t do anything until 11am when it surged $1 within 10 min, shorts getting squeezed, I was busy with SYNM, not a big regret missing this, it’s a slower mover
Lots of other potential plays out there, I’ll have a list early tomorrow morning, gotta see if we have any other perfect technical breakouts/breakdowns…
PS Oh yeahhh, now my little TIM trading experiment is up 43% since November, $17,730 suckassssssssss…how many more plays will it take to convince you this stuff ain’t gambling, it’s banking!