Penny Farmer’s Tuesday Harvest $611, $TWER, $EXAS, $GEVOWaz up penny farmers?
I hope that everyone had a good day in the markets and locked in their profits, especially in today’s 100%+ mover $TWER.
The small caps aka penny land has been on fire lately with 50% to 100% movers daily. But just because there are several stocks on the move don’t get suckered in to chasing. These stocks are swinging up and down fast and you could get stuck on the wrong side of the trade really easily. I did today when I placed a short trade in $EXAS and saw in slip on me faster than I wanted. I ended up reversing the position and managed to ride the momentum high enough for the trade to go green and cut my loss in half. It’s a tactic I’m not fond of but with the momentum I was seeing I suspected that it would go green.
$GEVO ~ My first trade of the day was made without me at the helm. I had moved my stop loss in $GEVO up from .47 to .50 when the A/H and P/M suggested a potential gap up. At the open the stock did push up to .53 before fading back down. My S/L was triggered on the way back down and it locked in a $205 profit.
$EXAS ~ I entered this short trade when it appeared that the MAC-D and AO were going to crossover the zero lines on the down side. I got in just before the crossovers but then saw the price action flip on me at it quickly headed back up and slapped me in the red. I then realized that I had failed to check longer out charts and I had missed that the overall trend was upward, meaning that the strength was to the upside vs my short. I decided to reverse the trade rather than just take the loss because I felt that the upward push would be strong enough to either take me back into the green or at least reduce my loss.
It did continue to push up and I took profits when it looked like the trend was losing momentum and cut my loss in half. T1: -$288 T2: +$144 = -$144. I left a lot on the table with this one because a hold to near the EOD would have seen mid 9s and even 10s A/H.
$TWER ~ I then took a position in $TWER when it started to rip into the close. My first entry was at 0.24 but my nerves got the best of me and I stepped out when it dipped to 0.23 for a loss. The price continued up with strength and I decided to re-enter and got in at 0.26, then held until 0.28. After looking at the indicators I realized that I could have held from 0.24 and then closed at 0.28, which would have been a much nicer trade.
T1: -$450, T2: +$1000 = $550
In all I ended the day with a gain of $611 in profits which is way more than I made per-day at the school district, although I feel like I over traded to get to that number and that means I was taking too much risk because my positions weren’t ideal.
Stay tuned for tomorrow’s Crops to Watch.
Remember, plant the seeds of education and grow your pennies.
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