First of all, I love solar power, so PECK was a sweet little practice trade for me. 2nd GD with relatively low float, high volume, and it was up in premarket. All these factors tend to lead to decent trading opportunity, and I'm seeing this pattern lately that occurred, which is essentially a post-morning spike dip buy:
When there's a strong morning spike on high volume (from $6.14 open, PECK hit $9.30!), this is another criterion that confirms to me that there is interest in the stock. The price then often falls all the way down to the open price or around the last support level in premarket. This is where I bought in @ 6.20. I was watching ready to cut my losses if it somehow dropped further, but it consolidated, then gradually went up to another spike to 7.50. As it was moving up to 7.50 and consolidating/fading thereafter, I was selling 5-10 shares at a time locking in profits. I only bought in 100 shares, but I made $63, just over 10% gain. I want to be conservative while practicing, but I could've bought 200 or 250 shares, and doubled my profits. I feel like I'm finally beginning to see some of these re-occurring patterns. Thanks to Tim Sykes for the video lessons!
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