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Top 4 Stocks To Watch This Tuesday

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Written by Timothy Sykes
Updated 10/23/2023 5 min read

Every day I’m surveying the entire market looking for stocks that are trending in one direction or another…

And with the overall market underperforming, there are still plenty of opportunities ripe for the picking.

As a trader, you need to know how to spot some of the best opportunities while protecting yourself…

That’s why today I’m going to break down four stocks I’m closely watching and what my overall strategy is.

Stock#1: Golden Minerals Company (NASDAQ: AUMN)

Over the last few days, AUMN has uptrended nicely and there has been a recent surge in volume…

Take a look…

Source: StocksToTrade

With AUMN being a multiday runner, there is one specific strategy I like to focus on…

Panic dip-buy.  

Typically when you see a stock run for an extended period of time, that’s when they tend to have a more predictable panic…

It’s all a part of my 7-Step Penny Stocking Framework…

And with AUMN continue to move higher and higher day after day…

I’ll be closely watching for that solid more panic.

Remember, the bigger the better, but if it fails to bounce, make sure you cut your losses quickly. 

Stock#2: HUB Cyber Security Ltd. (NASDAQ: HUBC)

Last week I had two failed dip buy attempts on this play…

But just because I didn’t capitalize on them it doesn’t mean I’ll forget about it.

At the time I’m writing this on Monday, HUBC squeezed higher…

Take a look at the chart.

Source: StocksToTrade

I’m going to be closely watching the $0.80 mark to see if HUBC can get the momentum to break through. 

It’s already tried multiple times and has failed at that key resistance level, but if it can trap in these over-aggressive short sellers and get the spike in volume it needs…

We could potentially see this stock test the $1 mark.

If it fails again at that key resistance level, I’ll be looking to try another dip-buy with a small position size knowing it failed to bounce previously…

More Breaking News

And I’ll be ready to cut my losses quickly if it follows suit with last week’s performance.

Stock#3: LumiraDx Limited (NASDAQ: LMDX)

At the time I’m writing this, LMDX is soaring higher than 180%!

Take a look at the chart…

Source: StocksToTrade

Once again, these beaten-down stocks are surging based on these over-aggressive short sellers…

And you can notice the incredible spike in volume that helped propel this stock higher.

As this plays out, I’ll know better not to chase a play like this…

Especially when it’s already spiked more than 180% in a day!

I’ll be looking to dip-buy this early in the morning, but I plan on doing some with extreme caution…

This chart has looked ugly over the last several months, and we’ve seen plenty of these one-day spikers fail the next…

So I’ll be looking for a quick 5-10% bounce and get out as quickly as possible.

Stock#4: INVO Bioscience, Inc. (NASDAQ: INVO)

This was the best play out there yesterday…

It was also a StocksToTrade Breaking News Alert! 

INVO soared more than 426% at the time I’m writing this, take a look…

Source: StocksToTrade

This stock has been halted several times because it continued to trap in these over-aggressive short sellers…

And every time they kept trying to guess the top, they were wrong.

Seeing these over-aggressive short sellers get trapped once again opens the door of opportunity for us as traders.

There’s no telling how high INVO will go, and it has historically shown it can spike significantly higher in a single day before falling back to its lows.

Keep a close eye on this play and look to see if there is a solid dip-buying opportunity off a key support level.

Trading is a game of repetition, you don’t need to get fancy with your trades in order to be profitable.

I want you to continue to focus on those early-morning runners that could potentially open the door for a dip-buying opportunity…

And be sure to attend our FREE trading sessions every week to help give you a better understanding of what’s happening in the overall market…

Plus what are some of the top plays we’re focusing on.

Stay safe and I’ll see you in chat.

-Tim

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity.
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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”