DRMC Results - DRMC

On wednesday I picked two stocks that I was watching. One was MZEI which didn't break the point I wanted it to so it was not a play. The other stock though, DRMC, did break the point I had wanted. .43 was the point I had wanted it to break and would have been my entry point. Unfortunately, I slept in that day and missed my entry. The stock opened higher at .46 then dropped to .38 but once it broke .43 it took off all the way to .52. Note to self, dont sleep in.

Another Breakout Example - WAVX & SPLI

So today the big stock was WAVX. I did play this stock but I was too late both times. Each entry I was only .05 -.1 up before it tanked and I didnt have time to take profits. But it's another good lesson to learn, don't chase and take early profits. This stock showed up on my alerts this morning but I didn't act on it, like usual. I saw that stock as it broke 1.27.... Anyways, I did learn another window to keep up during trading and thats the volume alerts on EquityFeed. Look at the chart below and see if you can see all the resistance/breakout levels. Post them in the comments.

 

Towards the end of the market day Tim alerted us to SPLI. This stock spiked all the way to.086 so I could've profited more but I took early gains like should.  I got in at .0746 and out at .083. It ended up being +$109 which helped cover some of the losses from WAVX. While I was negative for the day, I am still learning and my losses have been down and gains have been up. Won't be long till I start profiting haha.

Another Breakout - RDNT

So I got an alert from one of my alerts I set the other day about RDNT breaking 4.27. That was the closest resistance point previously. I got the alert at 11:31 and it stayed just above 4.27 for a few minutes. I drew a line where the resistance is. Once it broke it went up about 4.45 and came back down only to test 4.45 again an hour later. Once it broke 4.45 it spiked up again to 4.71. It is currently at 4.57 which is still far above the alert that I got. In all of the DVDs and gurus I've heard they say find your strategy and stick to what your good at. I believe I found my strategy and have gotten pretty good at find them. Now I just need the bank roll to be able to profit on some of the pricier stocks. I will only be playing these types of plays for awhile until I feel confident trading it.

New Video - ThinkOrSwim OnDemand & Breakout Example

New basic lesson about time frames and how to use them

 When looking for breakouts, you obviously want to look intra-day and see how close the stock is to breaking its current resistance point or HOD. But, if you pull the 6 month chart or more, and can find the same resistance points, then you increase the odds of that stock spiking up when it breaks. In the 2 pictures below, the first one is a 10 day 1 minute chart and the other is a 3 month 1 day chart. You can see resistance at .10 on both. On the 10 day chart, when the stock finally broke .10 it spiked all the way to .16. This is how to increase your chances of buying a spike and it spiking enough to profit.

A missed play but I'm learning - MNTR

I was watching MNTR today and saw that it was consolidating just under $3.00. I mentioned on TimAlerts chat that it could break $3 and when it did that it was going to rise. It ended up breaking $3 and went all the way up to $3.44. On the chart below I marked all the different breakouts that could've been bought into. I stayed on the sidelines today as I made some profit and didnt want to overtrade but I actually made some good calls so I'm proud of myself haha.

Failed breakout - BBY

I was alerted on TimAlerts chat that BBY was a potential breakout. I got in early waiting for the breakout but it stalled and then failed to breakout. I got out with a minimal loss. I did add an alert to notify me when it broke $28. I also will be reviewing Pennystocking Part Deux DVD 2 pretty soon. Expect it sometime this weekend. I might do DVD 3 as well depending on time.