Well ladies and gents, it’s definitely been a long time since I’ve written anything here on Trading Penny Stocks Online. I wanted to cover more topics in the interim, and even wanted to continue my series on hot penny stocks, but I actually promised myself that I would not make another post until I saw PMU (Pacific Rim Mining Corporation) “pop” in price, just to prove to everyone that’s been reading this blog for any length of time that this stuff really works. If you need a refresher or need to be brought up to speed on what I’m talking about, I’m referring to the post I did back in December of last year entitled “Hot Penny Stocks (Part 3)”. In that post I highlighted PMU as a stock to really keep your eyes on, and I stated back then that it was in the middle of an elongated “cup-and-handle” formation that could really end up kicking some butt, given a little more time. At the time I wrote that post, PMU was trading in the “teen cents” (($0.13 – $0.19) per share. Folks, it hit a high today of $0.30 a share. That means that from the time I first highlighted PMU almost 6 months ago, it has basically doubled in price. Folks, where else can you get some great returns in as short a time frame as when you’re trading microcap stocks? I know I may be a little biased, but I just believe they’re the way to go if you want a relatively safe investment with little relative overhead, but can produce mind-boggling returns, especially from a percentage-of-money-invested point of view. Even in the midst of this crappy economy and all the talk of recession and depression, here you have a small beacon of hope in the penny stock markets. Believe me when I say, there’s ALWAYS a good deal going on in the microcap markets, even if the whole economy is in the crapper—the insiders will make sure of that. Don’t believe the hype—Jesse Livermore made $200 million during the crash of 1929—it’s all about perspective. And by the way, Jesse Livermore was a chartist.
But back to PMU--I noticed it “percolating” a little earlier this month, with quite a few days of banging against the resistance at $0.20 per share, and then running into another sticking point at $0.25 per share. But I knew that once it popped (and closed) over $0.25 per share, that would be a very significant thing. Well, that happened yesterday, and it hit a high of $0.30 per share today. Check out the chart:
But back to PMU--I noticed it “percolating” a little earlier this month, with quite a few days of banging against the resistance at $0.20 per share, and then running into another sticking point at $0.25 per share. But I knew that once it popped (and closed) over $0.25 per share, that would be a very significant thing. Well, that happened yesterday, and it hit a high of $0.30 per share today. Check out the chart:
Notice the extremely high volume yesterday when PMU cracked the $0.25 barrier—no doubt a lot of buy stop orders were triggered once it bumped past that resistance. Two million shares is nothing to sneeze at for a stock like this. That’s a bit of a concern, especially since it had a high open and closed near the low today…setting the tone for a down day tomorrow, more than likely. The whole blasted thing is psychological. I don’t by any means believe that PMU’s up days are over…I’m just thinking that there will be another rough or dead patch before the real climb is made. Believe you me, the past five months worth of accumulation under $0.25 won’t be blown out by the little “blip” that we saw yesterday and today. I really believe that there’s another, bigger rise to come, but again, there will more than likely be some more discouraging price action before we see that move take place. Remember, the longer the accumulation period, the stronger the foundation is being laid for a serious move. Those that moved on my suggestion back in December have already seen their money doubled…not to brag, but I’ve seen this stuff happen over and over again. I have researched hundreds of penny stocks (probably thousands) that have performed this same type of price action, and after many years of this type of research, you can almost “smell” a deal, if that makes any sense.
At any rate, I just wanted to check in with everyone and let you guys know that I didn’t fall off the face of the planet, I was just keeping a promise to myself. I may not post again until PMU cracks the Goliath barrier of $0.40 per share—unless, of course, I come upon some other hot penny stocks that I believe have great potential. Cheers to all.
At any rate, I just wanted to check in with everyone and let you guys know that I didn’t fall off the face of the planet, I was just keeping a promise to myself. I may not post again until PMU cracks the Goliath barrier of $0.40 per share—unless, of course, I come upon some other hot penny stocks that I believe have great potential. Cheers to all.
