WhisperfromWallStreet Update
Hello All,
Well after an ugly week last week we are off to a great start this
week.
My late day alert Friday, WWPW, is looking good. Until today, the
most active day in this stock was 385,000 shares. Today it traded
just under 700,000 shares so it was a big day.
If you watched today you would have noticed that it took a bit to
get through the 1.14 area but after it did it was in the 1.20s soon
after.
The high on the stock today was $1.23 up 19% from my alert Friday.
The stock traded heavy volume in the last hour and finished the day
just under the high of the day. This is usually a good sign as it
shows us that buyers were overcoming sellers right into the close.
I would expect to see follow through from this on the open
tomorrow.
The all time high on the stock is 1.30 back about a month ago. That
will be the next target buyers try to take out. If it breaks
through there could be a nice little run.
Everyone who participated should be well in the money by now.
Please make sure you use stops. If you have the ability to watch
the market during the day you should use a trailing stop and
continue to move it up if/as the stock moves higher. Learn to not
give the profits back.
Another idea I recommend is that you use limit sell orders put in
above the current market. This way your order is in and as the
stock moves to your price you are taken out and you don't have to
worry about it.
I know some people are afraid to do this because, "what happens if
the stock keeps going up?" I get this question a lot. My answer is
this, Don't count anyone else's money but your own. After you close
out a profitable trade, be thankful, and turn off the computer. You
just put some money in the bank, your done.
More people lose money after a profitable trade by jumping back in
thinking they made a mistake selling to early. I also hear from
people who jump back in on a dip thinking its going to head back to
the high. Don't do either of these things. For all you know the
stock could be getting top heavy as more and more investors decide
to book their profits and next thing you know it is a race for the
exit and the stock falls apart.
Now you have your head in your hands and your saying " I just made
a 25% profit in two days and I gave it back in 15 minutes.
Please remember this about the OTC markets. Its always best to sell
on the way up because there are still buyers around. When an OTC
stock cracks it is literally like a race to the door as there are
hundreds of busy little fingers hitting the sell button on their
computers. Unlike listed stocks where a sell off may take days or
weeks in the OTC market a sell off can take a stock much lower in
minutes or hours.
Always use stop loss orders to protect your capital because of
this.
Anyways, today was a good day and it looks like tomorrow's open
should be as well. Please keep an eye on this and make sure you
book your profits.
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://whisperfromwallstreet.com/choicetrades
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