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You Gotta Check Out This Penny Stock’s Perfect Technical Breakout

April 13, 2009 at 6:22 pm
by Timothy Sykes

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…so all you other momo penny stock forums like TheLion.com…

Feast your eyes on this breakout:

TIMalert subscribers are already in, as I sent out this alert around mid-day today:

Bought 4000 FEED at $3.13…its an intraday breakout and a multi-week breakout on the back of strong earnings…agriculture stocks are hot right now…1st day runup, last time it had 3 big up days in a row…I’ll be happy to get out just under $3.75 slight resistance, but it might even go to $4….very strong chart pattern, but careful since its already up nicely today (i was hoping it wouldnt breakout until later this afternoon to protect against possible afternoon fading, but this one doesn’t have patience!) Ps my girlfriend is in at $3.14 also

…so we’re all up a bit, especially at $3.25 afterhours prices, but if the pattern plays out the way this pattern usually does, we’re in for a nice little rocket tomorrow and/or the next day.

And if you’re a naive short seller, I beg you to enter and get squeeeezed, some mistaken people think this is a pattern I’d short, there’re dumb-as-Vick-wrong. This is a great breakout and as I preach in my PennyStocking instructional DVDs, I buy breakouts!

Now that the day has ended, what is my new target price (yup, it’s different!)? Well, as always, TIMalert subscribers will know first.

Posted in Breakouts, Patterns To Buy

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  • david

    wish i knew about this, this morning.

  • david

    wish i knew about this, this morning.

  • http://pennystocker.com PennyStocker

    Nice find Tim and great buy point too! I might even try to get into this tomorrow if it opens at 3.30 or above.

  • http://pennystocker.com PennyStocker

    Nice find Tim and great buy point too! I might even try to get into this tomorrow if it opens at 3.30 or above.

  • http://www.investorslive.com investorslive

    nice blue line

  • http://www.investorslive.com investorslive

    nice blue line

  • alex

    Actually Timmay, shorting in a setup like this can have great results. The best probabilty is definitely for the long play, but the r/r ratio is better for a short. If the pattern fails…it’s likely very catastrophic cuz the massive herd of longs get trapped, exiting at the same time and you get a nice forced sell-off, stop-losses going live. etc., possibly multi-day all the way down to fill the gap above $1.

  • alex

    Actually Timmay, shorting in a setup like this can have great results. The best probabilty is definitely for the long play, but the r/r ratio is better for a short. If the pattern fails…it’s likely very catastrophic cuz the massive herd of longs get trapped, exiting at the same time and you get a nice forced sell-off, stop-losses going live. etc., possibly multi-day all the way down to fill the gap above $1.

  • alex

    Definitely a perfect breakout of a coiled spring, though. Classic technical analysis screams a buy here…and therein lies the danger.

  • alex

    Definitely a perfect breakout of a coiled spring, though. Classic technical analysis screams a buy here…and therein lies the danger.

  • http://www.investorslive.com investorslive

    Alex great results as in -10% ?

  • http://www.investorslive.com investorslive

    Alex great results as in -10% ?

  • marc

    let me summarize alex’s posts:

    Buying could be good, or selling could be good. Yay!

  • marc

    let me summarize alex’s posts:

    Buying could be good, or selling could be good. Yay!

  • http://test.timothysykes.com/blog/2009/04/14/14-low-priced-stocks-to-buy-short-sell-if-you-dare..../ 14 Low Priced Stocks To Buy & Short Sell If You Dare…. | TIM – Timothy Sykes

    [...] FEED I’m long 4000 shares at $3.13…goal is to sell into a morning spike/gap up to the $3.75 range as its on sooo many traders’ radar…check out what I wrote in THIS post [...]

  • http://test.timothysykes.com/blog/2009/04/14/14-low-priced-stocks-to-buy-short-sell-if-you-dare..../ 14 Low Priced Stocks To Buy & Short Sell If You Dare…. | TIM – Timothy Sykes

    [...] FEED I’m long 4000 shares at $3.13…goal is to sell into a morning spike/gap up to the $3.75 range as its on sooo many traders’ radar…check out what I wrote in THIS post [...]