FREE Penny stock watchlist: Monday 17 October 2016
Here is today’s free penny stock watchlist: Monday 17 October 2016. I will also tweet the watchlist and post it on Facebook as well as provide comments for how the stock closed at the end of the trading day. Note my watchlist is based on certain presets including chart pattern, catalyst, volume and price. Stocks that don’t make the grade don’t make the watchlist.
Note that I am a day trader – not an investor, holding positions anywhere from a few minutes to a few hours, rarely holding overnight. The below watchlist is tailored towards day traders.
Market conditions: There was a better overall market on Friday than Thursday (which was down 1%) being green and closing 0.02% higher. Morning spikes still don’t hold very long or for multiple days so I have to be careful going long.
CTRV (Long) -the Hepatitis B drug results have soared this stock since last Thursday. It could continue to spike although the long-term chart is beginning to look overextended and some shorts may come in.
Notes at close: had another big green day with a great opportunity to buy just before 10am when it spiked nicely.
NEON (Long) – this Friday contract winner has resistance in a lot of places above it and doesn’t generally hold its gains, so this will be close watch and quick-fire if the setup is right.
Notes at close: There was not enough range (volatility) to trade this today (only 12c).
FH (Long) – this low float play was up on no real news on Friday – I will continue to watch it today.
Notes at close: when there is no news it’s tough for a stock to keep climbing. As predicted there was no real play today anymore.
SPI (Long) – up 14.2% on Friday with no real news but looks to still have some momentum so will be watching this.
Notes at close: There was a decent spike at open and close that could have been bought. Since it closed strongly it may continue to up trend when the market opens tomorrow.
MGT (Long) – this has spiked in the morning the last 3 days in a row so I’ll be watching it closely. Could also be a dip buy. I traded this on Friday for a small loss.
Notes at close: there wasn’t enough range nor price pattern to trade this about-to-get-sued company.
RT (Long) – spiked on news of the interim CEO buying $137k of shares -this momentum could carry on today.
Notes at close: There was not enough range (volatility) to trade this today (only 17c).
ENZ (Long) – an earnings winner that should continue its momentum from the PR released on Thursday.
Notes at close: you had to be ultra-quick to get in on the spike at open and equally quick to get out since it lasted 5 min. Other than that there were no real opportunities to buy this.
CBDS (Long) – this weed stock is going from strength to strength and I may buy it if it continues spiking, although I won’t be holding it very long. Sympathy plays for CGRW and CARA may follow but these have weaker charts.
Notes at close: continued it’s crazy up trending trajectory. This was a good buy at open and it just soared from there getting stronger the whole day and finishing even higher. Could be a potential buy at open tomorrow.
OCUL (Long) – had lower highs all day after the small morning spike on the back of positive new product news. The all-day down trending may not be a good sign for longs but then it may spike at the open for a quick trade.
Notes at close: it did spike at the open but then crashed red and did not have good price action to solicit a buy.
CRBP (Long) – this will be dip buy only as there is still some momentum from the Phase 2 medical trials released 4 days ago.
Notes at close: there was no opportunity to dip buy this today. Traded in the red all day.
Please read my terms and conditions before trading these stocks and note these are only my opinions and not recommendations to buy or sell. Seek independent advice as penny stocks can be risky.