Penny Farmer’s Crops to Watch 6/24 $ZAIS
Good morning fellow penny farmers and a HUGE congrats to those from Great Britain on securing your independence. I love watching history take place and there is no doubt that what is going on in Europe is historic.
The global markets started going crazy as we led up to the vote and after. Japan halted trading for a while, the pound went into a freefall, and oil dropped significantly as well. As an investor this would be a very scary day, but as a trader this is a day full of opportunity.
I made a few paper trades in FX with GBP/CAD and GBP/USD after the pairs appeared to be bouncing off of their bottoms. My first two trades netted about $600 in profits and I still have two positions open.
Speaking of open positions, I did very little trading on Thursday and decided to place a long position in $ZAIS near the close. The stock had a huge run and was holding levels on a pullback into the EOD. My plan is to hold overnight and sell into continued momentum with a trailing S/L of .10 cents.
Crops to Watch
ZAIS, 185.1% EOD. This had a huge run on Thursday. I entered within the last half hour of the day and took a position @ 3.97 when the pullback was holding support levels. My plan is to sell into continued momentum and I have a trailing stop in place.
Side Crops: UVXY, NADL, GST
Happy Trading and remember, Plant the Seeds of Education and Grow Your Pennies
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