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My 10 Top Stocks to Trade Now in 2023

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Written by Timothy Sykes
Updated 5/22/2023 17 min read

My 10 top stocks to trade in 2023 have THIS in common…

They’re definitely not stocks for investing. In fact, I wouldn’t even trade them unless they stumble into the right setups…

That said, these stocks can yield enormous returns if you know how to trade them. That’s what this list is all about.

Let’s get to it!

Is Now the Right Time To Trade Stocks?

Now is the right time to trade stocks… IF the following things are all true:

  • You’ve studied chart patterns
  • You maintain several watchlists
  • You’ve built a good trading plan
  • You’re disciplined enough to follow your trading plan
  • You take small gains, and cut your losses quickly

Get it? Self-sufficient traders can trade in any market. Work on your trading skills, not picking hot stocks.

In the end, the only results that matter are the ones in your trading account.

It all starts with your watchlists. I keep several watchlists, so I can track different market trends.

That way, if one sector suddenly gets hot, I can quickly pivot and find the best trading opportunities…

These are the top stocks I’m watching this month!

How to Choose the Best Stocks to Trade

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Choosing the best stocks to trade isn’t like rolling dice. You’ve got to do your due diligence — that involves research, technical analysis, and chart study.

Avoid the hype and bad information around penny stocks. Most of these companies are sketchy. That’s why their prices are cheap.

They are not “going to the moon” anytime soon. Just hitch a ride with them until they hit resistance or your goal.

And cut your losses quickly!

What are the Different Types of Stocks?

There are a ton of different types of stocks.

I teach my students to think in terms of hot sectors and cap size. The thing we really care about are hot sectors — like artificial intelligence, EV stocks, and even niche sectors like Chinese IPOs.

Check out my artificial intelligence penny stock watchlist here!

Market cap (the total value of all shares of a stock) is also a big differentiator. These are the categories:

  • Mega-cap: $200 billion and up
  • Large-cap: $10 billion–$200 billion
  • Mid-cap: $2 billion–$10 billion
  • Small-cap: $250 million–$2 billion
  • Micro-cap: Under $250 million

The market is a game of supply and demand. When demand increases, stocks with a smaller supply will make bigger price moves.

That’s why market cap matters. A stock like Bank of America Corp (NYSE: BAC) is under $30 per share…

But  it’s a mega-cap stock. It won’t make a big move unless it has some earth-shaking news.

Check out my article on small-cap stocks here!

Lastly, let’s talk about growth stocks, dividend stocks, and value stocks.

Growth stocks are the analyst favorites, with sales, revenue, and earnings constantly on the rise. The business behind them usually attracts a good amount of customers. Their future growth estimates and profit target are probably several times what they are now.

Dividend stocks are investments, not stocks I recommend for trading. They generate income — but these returns can’t match what small-gains trading can bring in. They’re not exactly “safe” either — look into a CD or ETFs if you’re looking for that.

Value stocks have more in the way of fundamental strength, but they’re overlooked by analysts and the markets.

Read more about value stocks here!

Know the Risks Before You Buy

Tim Sykes in a boat in Italy checking the stocks on his top penny stocks list
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You can’t avoid risk — but you can manage it.

I trade very sketchy stocks. The way I manage risk is by knowing these stocks are sketchy.

That means reading analyst opinions even if you don’t follow them. Is the company management shaky? Are their products and services lacking? Is their entire advertising budget going to Twitter promoters?

Well, then maybe you shouldn’t hold them overnight.

My Top 10 Stocks to Buy This Year (2023)

My top stocks to buy in 2023 are:

  • (NASDAQ: GFAI) — Guardforce AI Co., Ltd. — The Post-Dilution AI Penny Stock Supernova
  • (NASDAQ: CXAI) — CXApp Inc. — The Consolidating AI Penny Stock Supernova
  • (NYSE: BBAI) — BigBear.ai Holdings Inc. — The AI Penny Stock Sympathy Play
  • (NASDAQ: WISA) — WiSA Technologies Inc. — The Reverse-Split AI Catalyst Penny Stock
  • (NASDAQ: AMST) — Amesite Inc. — The AI Penny Stock Runner
  • (NASDAQ: WKEY) — Wisekey International Holding — The Breaking News Chat Penny Stock Spiker
  • (NYSE: FUBO) — Fubotv Inc. — The Earnings Winner Penny Stock
  • (NASDAQ: GSIT) — GSI Technology, Inc. — The Meme Penny Stock on Short Squeeze Watch
  • (OTCPK: ENZC) — Enzolytics Inc. — The $25K Biotech Penny Stock Pump
  • (NASDAQ: MEGL) — Magic Empire Global Ltd. — The Chinese IPO Penny Stock

Before you send in your orders, take note: I have NO plans to trade these stocks unless they fit my preferred setups. This is only a watchlist.

The best traders watch more than they trade. That’s what I’m trying to model here. Pay attention to the work that goes in, not the picks that come out.

Sign up here to get my NO-COST watchlist sent to your inbox every Sunday!

Guardforce AI Co., Ltd. (NASDAQ: GFAI) — The Post-Dilution AI Penny Stock Supernova

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My first 2023 penny stock pick is Guardforce AI Co., Ltd. (NASDAQ: GFAI).

AI is the hottest sector right now…

That’s why the next FIVE picks are dedicated to this wild sector.

Have you heard a lot about “diversifying your portfolio?” If that’s where your head’s at, spotlighting five stocks in the same sector might not make much sense…

Remember — we’re not investing in these stocks. We look at their charts to give us clues about the next move, not FOMO about past ones.

A hot sector can be your biggest clue.

In fact, hot sectors can even lift the crappy penny stocks on this list. Even when they’ve just done a new share offering like GFAI.

GFAI has already run several times in 2023 — most notably in April when the spike exceeded 660%.

Even though its May offering killed the rally, it’s since shown signs of life.

I’ve made $2,267 on GFAI (click the link for individual trades) by reacting, not predicting. The way I do this is to keep a watchlist full of past spikers.

Right now, AI stocks are at the top.

CXApp Inc. (NASDAQ: CXAI) — The Consolidating AI Penny Stock Supernova

My second 2023 penny stock pick is CXApp Inc. (NASDAQ: CXAI).

If you thought GFAI’s April run was impressive, check out CXAI. It went full on supernova, posting over 1,400% gains.

It’s since fallen about 45% from its highs. Why is that good?

Despite what you might have read on Reddit, stocks don’t typically go to the moon. They run, the smart money sells, they fall.

But sometimes, there’s enough demand to keep them from cratering.

That’s what we’re seeing with CXAI. It’s called support

It’s the foundation on which new runs are built.

BigBear.ai Holdings Inc. (NYSE: BBAI) — The AI Penny Stock Sympathy Play

My third 2023 penny stock pick is BigBear.ai Holdings Inc. (NYSE: BBAI).

BBAI is another 2023 supernova.

The difference between it and the previous two picks is that BBAI killed a 600% January rally by selling off 113 MILLION shares!

Like GFAI, it sold them through a private placement. That means that the float wasn’t affected.

Unlike GFAI, it’s got about 30 million shares in its float. GFAI and CXAI are both low-float stocks, clocking in at under 10 million.

That means the supply is much smaller. When demand comes in, it’s more likely to spike the price.

Now, it isn’t all bad news. BBAI is a lower-priced stock than the previous picks. These stocks are more likely to post higher-percentage gains.

WiSA Technologies Inc. (NASDAQ: WISA) — The Reverse-Split AI Catalyst Penny Stock

My fourth 2023 penny stock pick is WiSA Technologies Inc. (NASDAQ: WISA).

WISA is a crappy penny stock that recently waved the white flag on ever getting back above Nasdaq’s $1 share minimum…

It did this with a 1-for-100 reverse split. It’s still a penny stock.

I don’t usually think of reverse splits as catalysts. But this reverse split moved WISA’s bloated float down to 14 million…

However it got there, the float is now small enough for the price to move on hot news like its recent acquisition of an AI audio company.

That spiked the stock over 160% in May.

I traded it earlier in the year for $570 (starting stake was $10,950). That wasn’t the first opportunity to trade this stock, and it won’t be the last.

Amesite Inc. (NASDAQ: AMST) — The AI Penny Stock Runner

My fifth 2023 penny stock pick is Amesite Inc. (NASDAQ: AMST).

It’s the last AI stock on this watchlist …

And it has a history of spiking that goes back to 2021.

It’s in a nice spot. It’s held onto most of its 2023 highs. It’s got a TINY float of 1.74 million.

So far, I’ve managed to make $835 on this stock (click the link to see individual trades).

It’s in the perfect spot to catch the next wave.

Wisekey International Holding (NASDAQ: WKEY) — The Breaking News Chat Penny Stock Spiker

My sixth 2023 penny stock pick is Wisekey International Holding (NASDAQ: WKEY).

The Breaking News alert on WKEY’s CEO meeting with Elon Musk gave me one of my best trades of 2023…

I made $1,152 after the alert dropped (starting stake $3,120). That’s a nearly 37% gain in just a few minutes!

That’s why I love this niche. These are the kinds of gains that can really make a difference in a small account.

Get your 14-day trial of Breaking News Chat and StocksToTrade today — only $17!

I’ve made a total of $17,947 trading WKEY since 2020 (click the link to see my individual trades). That’s a testament to my former runner-watching philosophy.

You can bet this one is staying on the watchlist.

Fubotv Inc. (NYSE: FUBO) — The Earnings Winner Penny Stock

My seventh 2023 penny stock pick is Fubotv Inc. (NYSE: FUBO).

An earnings winner is a stock that delivered better-than-expected earnings in its quarterly report.

This is a fundamental analysis metric. But traders shouldn’t ignore it.

Earnings winners usually attract positive market sentiment. And that can result in profitable short-term gains.

FUBO’s May earnings win resulted in a 90% gain. It’s held onto most of that…

Right now it’s consolidating.

I’ve made $3,470 in total from this ticker (click the link for individual trades). I’m ready for more volatility.

GSI Technology, Inc. (NASDAQ: GSIT) — The Meme Penny Stock on Short Squeeze Watch

My eighth 2023 penny stock pick is GSI Technology, Inc. (NASDAQ: GSIT).

Traders can’t live in the past. Even though we need to know the charts of the stocks we’re watching, the past won’t tell us about future runs.

This is especially true for meme stocks. Meme stocks like GameStop Corporation (NYSE: GME) spiked more than 2,300% in 2021…

Good luck recapturing those types of gains!

But there are lessons we can learn from the past. Like watch the hell out for short squeezes.

A short squeeze happens when overconfident short sellers short a stock, and don’t cut their losses quickly…

When the price rises, some of the shorts buy to cover. That adds to the momentum. Buyers see this and get in, spiking the price even higher!

It’s happened to stocks since GME… GSIT is a recent example.

The price spiked over 340% in mid-May. And right now prices are creeping back toward the breakout level.

I’ve already made $6,857 in total from this former runner (click the link for individual trades). I’ll be watching…

Enzolytics Inc. (OTCPK: ENZC) — The $25K Biotech Penny Stock Pump

My ninth 2023 penny stock pick is Enzolytics Inc. (OTCPK: ENZC).

Speaking about stocks I’m always watching, ENZC is an all-timer.

Over the years, I’ve pulled $25,842 from this stock (click the link to see my individual trades). That’s a testament to how well it fits my 7-step penny stocking framework:

I wouldn’t hold this one overnight. But you’d better believe I’ll be watching for its next move!

Magic Empire Global Ltd. (NASDAQ: MEGL) — The Chinese IPO Penny Stock

My last 2023 penny stock pick is Magic Empire Global Ltd. (NASDAQ: MEGL).

We covered AI…

We covered meme stocks…

We covered crappy pumps like ENZC…

There are two more catalysts to watch out for in 2023. And they’re both ready to send MEGL higher…

IPOs and Chinese plays.

No trader worth their laptop can forget the stock that started the trend.

MEGL rode that wave, all the way up to $249.

Now it’s worth another watch, with this weird combo sector getting hot again.

TOP Financial Group Limited (NASDAQ: TOP) launched over 3,700% in late April. It sent Chinese plays like MEGL running in sympathy.

MEGL’s price spiked over 530% on April 28.

Since then the chart’s pulled back. But it’s showing signs of consolidation.

Let’s see if it can retest the highs.

Final Takeaways

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The only thing you can do quickly in the market is blow up your account.

Trading isn’t about riding the hype train best — it’s about understanding the data, capitalizing on volatility, and following your trading plan.

Inflation and mortgage rates are things that investors worry about. We’re not maintaining a successful portfolio, we’re stacking small gains.

The world of trading has as many strategies as there are traders. I’ve found that the most profitable strategy for small-account traders is a very conservative one. During turbulent markets with high potential for a recession, I leave the home runs to others — I’m most concerned about protecting my account.

Aim small, miss small. That’s the only way you can get trading to deliver on your greater goals.

If you’re ready to embark on this journey, I’ve got a lot more to teach…

It’s all in my Trading Challenge. That’s where I share my trades, current strategies, daily watchlist, and over 6,000 video lessons! It’s everything I wish I knew when I was starting out.

We don’t accept everyone.

If you think you’ve got what it takes, apply today.

How do my top stocks to buy compare with your list? Let me know in the comments!

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Author card Timothy Sykes picture

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. Read More

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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 (205) 851-0506 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”