This is important...
If you can’t take profits, you have no business trading.
So many traders choose a great play like the dip and rip on Summit Wireless Technologies Inc. (NASDAQ: WISA) yesterday. But then they make a terrible yet common mistake…
They start to believe the stock will keep going forever.
No, no, no. Sketchy penny stocks like this are not for home runs. They’re for quick in-and-out trades.
Quit trying to make Lambo money on sketchy penny stocks! Focus on making small gains, getting more consistent, and then potentially growing your account by sizing up.
Tune in for my full rant...
Here’s what I’m watching today…
A follower asked about Socket Mobile Inc. (NASDAQ: SCKT). It was a big gapper last night and had already rotated float in the premarket.
The volume’s there ... It’s a former runner and low float. It had good earnings. But it’s not such a sexy sector, so I’ll mainly watch it as a potential dip and rip, post-9:45 a.m. I also talk about the ‘buy in premarket, sell in premarket’ theory...
We talked about India Globalization Capital, Inc. (NYSEAMERICAN: IGC) yesterday. It’s a terrible company, but as it proved, Alzheimer’s-related news moves stocks.
Along those lines, I’m watching Alzamend Neuro Inc. (NASDAQ: ALZN) today. This one’s a bit higher float. But it has legit news, it’s a recent IPO, and I suspect there are a lot of bag-holders.
I know a lot of you won’t like this, but I think it’s an afternoon-only play. I explain my reasons based on the chart.
Every Friday, I look for low-float stocks that have held up all week. Neurometrix Inc. (NASDAQ: NURO) is holding up incredibly well. I look forward to seeing what it does today...
I love afternoon plays! NRX Pharmaceuticals Inc. (NASDAQ: NRXP) was a great example of an afternoon move yesterday — check out the chart. I explain why it’s still a watch today as a potential dip and rip or afternoon VWAP hold...
A follower asked about Support.com, Inc. (NASDAQ: SPRT). It has crap volume. It was a failed spike early in the week, and a failed spike yesterday. Nope — not my favorite.
There’s a real learning experience to be found in WISA … Look at yesterday’s (July 22) chart. It’s a great example of what to look for in a dip and rip. It had a big gap early, pulled back, then reclaimed the highs at around 9:50 a.m.
But it’s also a great example of why traders can’t get attached to stocks. Take profits and move on! It had a big fade all day after the spike. Don’t be a bag holder...
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*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
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