Today I'm trading into my IB account with approx 40k set aside for Penny Stock trading from the start of 2017.

 

Monday was a -$100 day for me. Made a $500 profit on one good trade a heap of bad ones. That's what happens when I don't stick to my rules.

 

Remember NEVER follow alerts EVER from ANYONE, use them to learn how others plan and execute trades so you can learn to plan and execute on your own.

 

CFBK was the only float play that traded any volume. It was volatile on the open but then after settling went on to squeeze 30min into the day. PSIX was the most liquid breakout play, spiking $1 pre-open, collapsing 2/3 of the way before bouncing back 10% to a $4 handle. GALE was a huge gainer pre-market on the back of positive clinical trial news. Despite looking like a dip-buy on positive news GALE actually just opened overbought and proceeded to fade its gains over the day. A great example of news overreaction.

 

A couple of names I picked up intraday just breaking the 100k volume mark from my scanner were INFI and OREX. Both had delayed spikes on the back of multi-day breakouts. OREX was my trade of the day.

 

Today I'm watching CFBK, DSS, CBLI, COOL and CBMX which are all low float multi-month breakouts. Potential morning spikers or delayed spikers.

 

Potential short plays are GIGA and PSIX. GIGA spiked on insignificant news, PSIX is being investigated by the SEC.

 

Rules today are:

 

Lessons from yesterday