Posts Tagged ‘mrna’
Thoughts on the Penny Stock Market 9-23-2009
Written by troy on Wednesday, September 23, 2009 | No Comments
Categories: Uncategorized Tags: fundamental research, mrna, penny stock, Stock Market, stocks, Trades
I did not enter any trades in the five companies listed yesterday on the watch list. However, I did sell one of my penny stock holdings. I have been holding XOMA for about 10 days or so. I sold today at .99 after it moved quickly upward when a press release came out in regards to a $2.2 million grant it received having to do with the ever popular H1N1 flu. I didn’t think it was overly impressive news so I exited the trade. I had purchased at .88. It was a little more than a 10% gain for me.
However, I did buy ADLR. It is a pharmaceutical company with a decent cash position and near the bottom of a trading range. I decided to stake a position in it at $1.65. I believe it closed at $1.63. Here is a chart of the stock for you.
Adolor CP
I think the stock could slip to about $1.55 but I was willing to stake an initial position here.
Of the stocks listed yesterday only GRO moved up. I will probably remove CASM from consideration because the daily volume is so low that it makes it difficult to get in and out of. I think it will still move upward at some point but I am not comfortable putting a few thousand shares into it. I may also remove CPRX from consideration after doing some fundamental research on the company.
However, I still like FREE to slowly climb and look for GRO and MRNA to respond nicely. Good luck tomorrow!
Penny Stocks to Watch for 9-23-2009
Written by troy on Tuesday, September 22, 2009 | No Comments
Categories: Uncategorized Tags: catalyst, chart patterns, mrna, penny stocks, technical basis
Here are a few penny stocks that I am watching for a possible short term trade. These charts are after the close on September 22, 2009. As always, these are not recommendations to trade. You need to make your own decisions. These are stocks that I am watching. I may enter a trade on some tomorrow and may not enter a trade at all.
I trade on a technical basis for certain chart patterns that I am looking for. I do not expect these stocks to be candidates for a long term trade. With that said, here are the ones that I am currently looking at as of today.
CASM
CAS Medical Sys
I like the way this stock is setting up although I am not thrilled with the volume. This is, however, a big drawback. It made an initial pop and has pulled back. It may be ready for a second leg although I would not expect it to be as powerful as the first leg up.
CPRX
- Catalyst Pharma
This stock is very much like the first one. It has pulled back and is sitting on the 21 day EMA. It too may be ready for a second pop.
FREE
- FreeSeas Inc
Freeseas is a shipping company. This entire industry has been beaten down and is beginning to show some signs of life. Freeseas is loaded down with debt. Technically, it may be turning the corner. It broke up through the 21 EMA about two weeks ago and has pulled back slightly. I would not expect a quick movement from this stock but may be able to slowly move up.
GRO
Agria Corp
I liked the move up through the 21 EMA three days ago on good volume. This may indicate that a further run is in its future. GRO is a Chineese agriculture stock.
MRNA
- MDRNA Inc
This is a biotech company that made a move through the 21 EMA two days ago. It made that move on better than average volume so something may be up.
Do your own research and as always have an exit in mind if you decide to enter a trade. Happy trading.