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.
XXII – This stock made its debut in our premarket comments on June 6 as we were watching for a reaction to news. It opened at 1.47 and hit a high of 1.65 that day. We have a specific trading approach to stocks which have the potential to become strong stocks. Yes they can be daytraded, if the specific daytrade setup is there, but it’s down the road which is usually the much better setup. We talked about this stock again and again after the first discussion. There have been numerous opportunities in this stock, I traded a couple of them. After hitting a high of 2.00 on June 9th, it settled down into a period of 123 re-accumulation before starting an uptrend on July 28 opening at 1.45. It closed on Friday, September 15 at 3.21, more than doubling its value in a month and a half. We talked about this stock gaining strength many times and mentioned it a total of 17 times in posts and videos.
BLDP and PLUG – These 2 stocks were a couple of the first we ever mentioned. We talked about them in the first newsletter we released for our new subscribers way back on March 19, and numerous discussions plus videos. In March, we had just gone LIVE on the internet with this website and Trader Scott had a position in these. At the time he wasn’t working with too many stocks , but felt the technology of these 2 companies was well worth watching. He wrote:
Here are two other stocks worth looking into in the hydrogen fuel cell business- Plug Power (PLUG) and Ballard Power (BLDP) – and maybe Fuel Cell Energy (FCEL) soon. PLUG and BLDP are good trading stocks, but I also have a position in them. There will be more discussions about these stocks over time, but here is an article about how Home Depot is equipping their stores with fuel cells. And another article about fuel cells, and Elon Musk’s deriding of the technology.
PLUG opened at 1.20 on March 20 and hit a high of 2.70 on April 11. It’s been trading within a range since, likely re-accumulation, making it a great trading stock for those who have bought the lows and sold into the rallies. And it’s an area for potential new money, but there is a specific approach to employ.
BLDP opened at 2.21 on March 20 and started a surge upward hitting a high of 3.48 on May 1. It then entered a period of re-accumulation through August 29. It broke through the 3.48 resistance area on September 8 sending this stock surging upward hitting an upthrust high of 5.06 on September 14.