Posted on 08 February 2010 by admin
Hello All,
Real quick update.
BPAC had a big uptick in trading today and finally broke through 57
cents on its way up to a high of 61 cents on the day. At this point
all readers who are in this stock should be in the money. I hope
now that it broke through this minor resistance area that the move
will continue. Make sure to move your stop loss orders up to
protect your downside and keep a close eye on it so you can put
some money in the bank as it goes higher.
AMCG started off slow today but picked up a bit towards the end of
the day finishing slightly in the green. News came out late in the
day today when a research firm came out with a report with a short
term price target of $1.41 on the stock. This news should bring
additional eyeballs on the stock and may help getting it moving in
the right direction for us. If you look at the daily chart you will
see that there is a strong support level just below us here at 60
cents. You may want to put your stop loss orders just below that in
case this stock heads backwards. Keep a close eye on it and make
sure you book profits when in a position to do so.
The broad market continues to trend lower. The Dow is down just
under 10% over the last few weeks. While I think this is a normal
pullback and isn't anything to panic about it does tell us that we
need to be cautious in our trades which means using tighter stops
and booking profits earlier. As the overall market turns we can
loosen up a bit and give these trades some room to run.
In the mean time I will continue to search for something that we
can all put some money in the bank with.
Enjoy the rest of your evening.
Good Investing,
Mark
If you do not trade with a broker that allows stops GET ONE.
ChoiceTrades does allow stops and they only charge $5 commissions
on OTC stocks. Open an account by following this link.
http://wfwsconsulting.com/choicetrades
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