Posts Tagged ‘Trades’
Thoughts on the Penny Stock Market – 9/24/2009
Written by troy on Thursday, September 24, 2009 | No Comments
Categories: Uncategorized Tags: biotech stocks, penny stock, penny stocks, Stock Market, Trades
The market for penny stocks has not been too good over the last couple of days. It appears as if the market wants to make a little bit of a pullback. It is well overdue but every time I think it is going to retreat a little in continues its upward march.
Penny biotech stocks have been especially hit in the last couple of days. In the near term I made a decent move getting out of XOMA since it gave up all of its gains yesterday. I will keep it on my watch list since I like the stock. If it pulls back into the low 80′s I will probably re-enter.
I made no trades today. GRO pulled back a little today but I like the way it is looking. MRNA also pulled back but still looks OK. However, FREE sort of collapsed today. It dropped below the 21 EMA and looks to have broken its slight uptrend. I will wait a few days before re-evaluating it.
One stock bears watching. It is PED, Petroflow Energy. This stock has recently landed on two different penny stock pick email lists. It was recommended only a few days ago and is now trading at .90 which is below where it was recommended. If these newsletters follow their standard pattern they will once again suggest this stock to their subscribers in the coming days. This may be a good spot to get in. I will look for something around .85 as an entry point depending on what the market is doing tomorrow.
Happy trading!
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!