Some of you may remember me when I had my blog found here http://jkendt.blogspot.com/. While I took a break from that for awhile I am starting to find my own plays again. I am starting to find my nitch in the market so to speak. I am enjoying playing low price $NASDQ for quick scalps and swings. Rarely do I hold them over night but they result in quick profits. Listed below are the stocks that I am currently watching.
$BPZ: This stock is for a quick daily scalp. As you can see on the chart below it has had support around $2.34. I will look to entry this stock around $2.35 and sell around $2.45 for a gain of .10. My stop loss will be $2.32 for a loss of .03 cents. This give a risk reward ratio of 1:3 which making three times the amount I could lose seems worth it. Once this stock has had some gains I will switch my stop loss to $2.37 so that if this trade goes against me I will be able to exit flat.
$GLUU: I really like the setup of this stock. There are two ways you can play this stock. 1st would be to enter after the 1st 5 minute candle has been broken above and hold for $2.80 with a stop loss of $2.48. Personally I will be buying the break at $2.81 and holding for $3.00 to fill the gap. If things look good around the $3 range I will hold for #3.12 with a trailing stop loss. My stop loss will be $2.74. This gives me a potential gain of 19 cents or a loss of .07 cents. This gives me a risk reward of 1:2-3 which again are in my favor. I will be keeping a close eye on this one.
$PPHM: I am waiting for a break above $1.40 and a hold till $1.57 for a gain of .17 cents with a 4 cent trailing stop loss for a ratio of 1:4. I will also be looking to scalp this play. $1.08 looks to be great support so I will be looking to buy this level on a dip and scalp it tomorrow if thinks look good in this trade.
$AMSC: This looks to have a target of $3.00. Watch it tomorrow to see if the up trend continues. You want to see $2.73 hold and is a good stop loss to make the ratio good for this stock.
Remember that I am still learning so trade at your own risk. Please feel free to give feed back and I will be looking to start my blog up again soon with this same information that I am putting here. Enjoy the trading day!