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Penny Stocks News

3 Stocks To Watch Today

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Written by Timothy Sykes
Updated 7/19/2023 4 min read

The only thing hotter than Arizona is this market…

Shorts are getting burned…

And we’re seeing countless opportunities pop up.

The key is to stay patient, take profits when you see them, and focus on risk management first.

I typically have about 10 to 15 stocks on my watchlist.

But instead of trying to overwhelm you, I’ll share with you the three that might offer the most fireworks.

#1: Colombier Acquisition Corp (NYSE: CLBR)

The ticker symbol CLRBR is an anti-woke company.

It had a monster move yesterday after Donald Trump Jr. mentioned them in a Twitter post.

Source: StocksToTrade

It strongly reacted following the Trump Jr tweet and then sold off sharply.

I saw it as an opportunity to buy the dip, thinking the news would stick, so I bought 1,500 shares at $10.47.

But it didn’t work for me, and I bailed pretty fast, cutting losses at $10.36.

Of course, the stock went above $15 shortly after I exited…

But I handled it well.

I didn’t overtrade, try to jump back in or do any revenge trading.

I tell my students to stay disciplined, and although this didn’t work out for me, it’s a stock that I want on my radar for today.

The strategy I will be looking to play is a panic dip buy.

It had a huge move yesterday…so I want to see some HEAVY selling pressure even to consider it.

Also, given the volatility and relatively high stock price ( I prefer trading stocks under $10), I won’t be sizing into this trade too big…IF I decide to trade it.

#2 Recursion Pharmaceuticals (NASD: RXRX)

Source: StocksToTrade

This company cut a deal with Nvidia about a week ago.

Shares initially spiked above $18 in the pre-market following the news. But then it sold off, going back to $10ish.

Well, it has had an amazing week…and the chart looks solid.

Again, it’s getting to the point where it’s a little high-priced for me.

But I will be watching this for some potential dip buys.

And like CLBR, I would need to see this stock get hit with some heavy selling pressure before considering it a play.

#3 Applied Optoelectronics (NASD: AAOI)

Source: StocksToTrade

I’ve been trading this a lot because I like the chart.

It has been a multi-day spiker…and like the other two setups I mentioned, I would like to play this on intraday panics.

I like it for a potential dip buy opportunity.

And since this one isn’t catalyst-based like the two mentions above, I like it even more because it’s more of a price action trade.

That said, this symbol has shown a lot of “bounce-ability.”

Last Word

In this post, I talk about dip buying…

To help you better understand this concept, check out the video below:

Now, if you’re ready to join one of my free workshops, that’s easy.

All you have to do is signup for one of my free live classes

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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. 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 (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”