One of the most important practices a successful trader does on a daily basis is to keep an updated watch list. If you are a subscriber to our paid service, you are familiar with our personal watch lists that we share with you every trading day before the market opens. A watchlist does not mean you should just jump into it. These are stocks which have different types of opportunities/potential. Some of the symbols are trending on news and are up pre-market, but it doesn’t mean they’ll continue an upward trend. Most are usually just 1-3 day movers at best. Often times 15 minutes. We watch these for reactions and volatility to find good opportunities for ‘in and out’ trades. These are daytrading-focused. There are many ways to weed thru all the different opportunities, as a few of these stocks are then put on our “Emerging, Emerging Strong Stock” category. There are numerous videos about these.
A pure daytrader has to work very hard during the trading day, but less so after the stock market closes. But most of our work and research goes towards trying to find the stocks which are going to go on and potentially become truly strong stocks. And when we believe in these, then we state it early on, as we did with the 3 stocks below.
We use a ratings system to attempt to weed out the ones with much longer-term potential. Remember that 95% of stocks under a $1 are there for a very good reason – they’re crap. Any of these can be great daytraders, but usually that is the extent of it. But not having any bias in markets is extremely important. That’s a big factor in how we became bullish, well before the crowd, on one of the worst stocks of all time – DRYS. We did several posts and videos about DRYS in late-July/early-August, before the rocket ship rally, as DRYS did something (technically) which it hadn’t done in a long time – a “change of character”. So it is with any of these small stocks, such as the ones below. MGTI was well below $1 when we first started watching it for ourselves, as was AVEO. We are looking for numerous things, both technically and fundamentally. We are looking for selling climaxes, signs of strength, earnings or product news, etc. And there are numerous other stocks which we believe have the potential for powerful moves.
So these other symbols, the stronger ones, are often mentioned many times in our pre-market comments and Trader Scott has made many videos about them being strong stocks. If you followed these strong stocks since we introduced them, there were great profits to be enjoyed.
Let’s take a look at a few:
IMMU – First mentioned on May 5, 2017. On that day it opened at $6.31 and as of August 25, the price was $10.38. Since May 5th, we have discussed IMMU 32 times, in videos and posts. That’s a 64% increase.
MGTI – First mentioned on May 26, 2017. It opened that morning at .79 and as of August 25, it closed at $2.50. We have discussed this stock 10 times since May 26th, in videos and in posts. Holding this stock 3 months brought a 240% profit.
AVEO – First mentioned on June 23, 2017 in the pre-market comments. This stock opened at $1.13 and as of August 25, it closed at $3.80. Since June 23rd, we have discussed AVEO 17 times in videos and posts. It is up an impressive 236% profit in 2 months.
These are just a few, but there are many more which we will share soon. In the meantime, we encourage you to keep your watch lists organized and updated. Yes, we know it can be an overwhelming task, but it is a necessary evil of this business. Fortunately with the profit potential, these tedious tasks are well worth the time involved. This is a tough business, but for those who follow through, the rewards can be outstanding.
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