Quick update for those of you who havn’t joined yet.  It has been a complete profit bonanza over at Microcap Millionaires run by penny stock trading wiz Matt.

We usually don’t like to brag about our explosively profitable trades online so we arn’t the type to give advice or tips on finding oversold stock that is ready to agressively bounce at any moment.

Check out some of the charts and just see the swings that you have been missing out on.

Since my email box is just about full of questions about day trading with Microcap Millionaire picks we are going to share some of the results with the world and show PROOF once and for all that this is for real.  Can you get your money management in order?  Get your risk tolerance in check. Let Matt take you by the hand and uncover the simple daily systems for hunting out spring loaded stock picks.  From entry to profitable exit.

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Still in the ZLC trade, howeverI think a stop loss is a good ideadue to overall market weakness. ZLC Chart Stop area: 1.70 which is a few centsunder the low of 1.80 made a fewmonths back. ==================*Our sleeper stocks (THRA, SGCP) have not moved,will be time to move on from themnext week if nothing materializes. Bearishoverall market conditions are not goodfor pinksheet stocks as well…volumetends to dry up. —————————- Someone asked me when the next official pickwill be issued…and that’s a good question. The market has a ton of oversold stocks rightnow that I like to trade from time to time, i.e. DRYSJTX EK NPD…however I need to see at least a couplestocks start bouncing for more than 1 day before I can makeanother official pick. Edit: JTX may get some coattail action off of HRB, market isliking something in their earnings report. Pincher formations are usually very reliable, and the stocksthat are pinching right now will bounce…but it could be a whilelonger with more downside to boot. So basically when I see some oversold stocks show bullishnessfor more than a day or so I will make some new picks. The”trade ideas” are meant to fill the void between the picks bygetting in and out of liquid stocks quickly. One good thing about this fairly boring market (for penny stocks)is that we have a sharp turn to look forward to….just no sensein jumping the gun.

The forecast right now is verybearish for the markets. We will start playing”Bear ETF’s” for the time being. This is the company that created the ETF’s,you may want to familiarize yourself with it: Direxion ETF’s The two I like the best are: FAZ Chart and TZA Chart ————

———-Stay tuned for a trading alert likely today.

I spotted a great lookingdownside trade to play offof market bearishness: MM Trade Idea: Short SCSS SCSS Chart *Strategy: Short sell shares around 8.50and look to cover in the next 1-3 days. Liquidity is good on this stock. If it rallies over $9 I will cover. Note: You can short this through Zecco, (I just did so myself)just select “short” as your order type, enteryour quantity/symbol, “market” as your ordertype and it should go through. If you wish you can try to get a specific shortentry by using a limit order. ======================= Not an ETF trade here but I see a lot ofdownside on this stock. Lastly note that “in theory” shorting is riskier thangoing long on a stock…since “in theory” the stockcould keep going up. Enjoy the downside.

Day Trade Winning Penny Stocks From Home

Looks like today will be a choppyday of trading for our “trade idea” stock SCSS… SCSS Chart We will look to cover early next weekunless we get a nice flush down later inthe day to cash in on. ————————— Was talking to a friend earlier and it ispretty amazing to see how oversold stocksjust are not bouncing….. I mean look at DRYS and JTX…wow. Speaking of DRYS, take a lookat the weekly chart of the BalticDry Index, which is the rate thatshippers are paid: Weekly BDI Chart With things the way they are our trade ideaswill likely continue to be “shorts” with the occasionalsuper duper oversold bottom bouncer..which ofcourse would be an official pick. Our only sleeper stock is HTLJ. HTLJ Chart ——————-Have a great weekend and enjoy IndependenceDay! I bought a boatload of fireworks last fallwhile going thru SC that have been sitting in mygarage….can’t wait to set those puppies off. Market closed Monday. See ya Tues.

Looks to be time to close out ourshort position in SCSS. It is at a supportlevel which is the 200 day moving averageand we have decent profits from our entrylast week around 8.50. SCSS Chart **If you have a zecco account, you can cover yourshares by selecting “cover” as your transaction type,enter the quantity of shares you shorted, SCSS asthe symbol, and “market” as your order type. This was our first trade idea that was a shortand it worked well. However that doesn’t mean all of our trades this month will be shorts…ROIAK is looking verygood for a bounce. I may alert it later today, not certain about it butsomething for you to keep your eye one. JTX is also grossly oversold…took a loss on that onebut still have to eye it for a move at any time. ————————Stay tuned.

ROIAK has jumped a tad… Although it is a little higher thanit was the past few days, it has showna likely confirmation that a bottom is in. **New MM Bottom Bouncer: ROIAK ROIAK Chart Entry: under 1.40Exit: 2 to 3 *Liquidity is good but not great on this stock. I woulduse 10k max to trade it. Do not chase this stock far abovethe entry range, if it jumps just wait for a pull back laterin the day or tomorrow. ROIAK owns a bunch of radio stations,their earnings have been improving sincethe recession bottomed out. ROIAK profile —————— Also HTLJ is our sleeper stock,I would not use more than 1.5k orso on it though due to lack of liquidity. HTLJ Chart Just waiting for some volume on it, ideallybefore the end of the month.

ROIAK opened a little lowerthis morning but is still looking goodto keep moving up. The thing to watch for will be overallmarket bullishness/bearishness next week.Earnings start next week so it should be a sharpmove up or down. The recent decline in ROIAK was not due to bad newsspecific to the company. The selling was mainly due tobearish market conditions in small cap stocks. ROIAK chart Entry: under 1.40Exit: 2 to 3 If I see things deteriorating in the market I willsell rec this stock and we will book a smallgain/loss…risk/reward is excellent at this point thoughsince the stock is so oversold. ================== If things go bad for the market next week we willhave a couple short term “short” trade ideas…similarto SCSS.

Day Trade Winning Penny Stocks From Home

**Exit strategy: Instead of a price targetwe are going to use a “take what you canget strategy” on this stock. If it pops above1.40 today or tomorrow we will sell forsmall gains. I aim to have us out of this stock by the end ofthe day tomorrow. I know I alerted this as an officialpicks but it is turning out to be of a more short term tradeidea. —————- Ever since we shorted SCSS last weekI have been watching it pretty much everyday on the live 1 minute chart (using PowerEtrade Pro). I saw the spike this morningto 8.60ish and thought to myself thatit would be a great short from there…but I gotdistracted and missed the opportunity. So anyways I am considering SCSS as a”short” trade idea again, maybe later today,tomorrow or sometime this week. SCSS Chart —————

This week is earnings week for a fewbig name stocks. The market will not beboring this week and there will be some nicetrades to be had. Stay tuned to get in on these trades. ========== Some stocks worth watching this weekas potential longs: BGPZLCDEARCT Potential shorts:SCSSRTCAR MattMicrocapmillionaires.com 

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