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Hello STOCKHAVEN members and a warm welcome to our new subscribers, Links:
1. http://us2.campaign-archive2.com/u562f71d8f3e63a0f3d11c06&id1bf25fd1&e109ef23d Before we get to our watchlist we wanted to give our thoughts on SNPK. In our view, the company released a “momentum killing” PR on Friday.
2. http://finance.yahoo.com/news/sunpeaks-ventures-addresses-stock-volume-185600356.html _SILVER SPRING, Md., March 16, 2012 /PRNewswire/ –Sunpeaks Ventures, Inc. (OTCBB: SNPK.OB – News) announces that it has initiated a review, through special outside counsel, in connection with the high volume of trading and price rise in its common shares on the OTC Bulletin Board. __ _ Links:
3. http://finance.yahoo.com/qs=snpk.ob 4. http://finance.yahoo.com/q/hs=snpk.ob Awesomepennystocks.com, the promoters behind SNPK have tried to spin this PR as a positive, telling their subscribers that _”there is nothing to worry about.”_ Well we`re here to tell you that there is indeed something to worry about and we are adamantly advising our members to follow these 2 rules:
1. Don`t hold SNPK overnight 2. Don`t trade SNPK unless you can watch it at all times Our reasoning is simple, if FINRA is looking into the trading of SNPK, which the Friday PR clearly states, then the S.E.C. might not be far behind. And if the S.E.C. gets involved, they might halt the stock.
Stocks typically get halted before the market opens or after the close. When penny stocks do get halted due to irregular trading, it usually results in a 50-90% gap down the next day. (We have never seen a penny stock get halted in the middle of the day but that doesn`t mean it won`t happen, we just don`t think it`s not as likely) As for rule #2, well Friday`s move down from $0.68 to $0.30 happened in about 10 minutes and if you weren`t watching it when it started, you probably got burned pretty badly.
Hopefully though no one made that mistake, as we just took the time to write an article for our Trading University explaining why you can never leave the computer if you`re in a trade.
5. http://www.stockhaven.com/trading-university _”If your broker does not allow you to place stop loss orders on penny stocks (many do not), then you cannot leave the computer when you are playing them. That is the simple, cold, hard truth! Don’t do it! You’re asking for trouble if you do. Just ask anyone who bought NSRS around $1.70 the same day it tumbled nearly 60% to $0.70. Or the people who bought AMWI around $1.30 the same day it tumbled 80% into the $0.20′s. Yes, these moves really did happen the same exact day, so if you were not by a computer or you didn’t have a stop loss in place there was absolutely nothing you could do about it.” -Are penny stocks good investments 3/6/12_ Well now we can add SNPK to the examples above, and what do all 3 (NSRS, AMWI, & SNPK) have in common They were/are all promotions by awesomepennystocks.com. So please everyone, do not make these mistakes with SNPK. We`re not saying you shouldn`t trade it during the day (although we`re not recommending it either), but just be very careful.
6. http://www.stockhaven.com/are-penny-stocks-good-investments As for those of you still holding, we`re not going to tell you to sell it.
What we will say is we have no position in SNPK and have no intention of initiating one unless it is for a very short term trade (like literally, in and out within 5-10 minutes). We`ll also say the same thing we say with any stock: have a plan.
If you are holding SNPK then you need to evaluate the new supports and resistances and play the chart and come up with your own decision (bare in mind if you plan on holding past Monday you are breaking our rule about holding it overnight but that`s a call you have to make). New support is going to be $0.40-$0.45 while new resistance is $0.55-$0.60.
Lastly we have a really exciting announcement regarding our nightly classroom sessions. _Dr. Stock_, one of the best traders from our chat room is going to start holding his own classroom sessions later in the night to accomadate our members who live on the west coast or just might not be able to make the 6pm est classes.
We`re not sure exactly what time he will hold his classes but it will likely be sometime around 7pm pacific standard time. The other benefit of this is our members will get insight into another great trading mind.
Dr. Stock and Stockhaven are both great traders but they have different styles. Don`t you want to learn as many unique trading styles as possible and see which ones you are most comfortable with Not to mention, he is a doctor 😉 Stay tuned as we`ll have more information about the pacific time zone classes forthcoming.
This week`s watchlist:
_GSX (0.29) _- _uptrending_ – GSX has been in a great uptrend since February but has yet to close above $0.30 this year. If if can, the most recent high at $0.33 is definitely attainable and a further move to $0.40 is possible.
Immediate support is in the $0.27-$0.28 range while key support for this recent move is $0.25. (view chart) Links:
7. http://www.stockcharts.com/h-sc/uis=gsx _LUXR (0.61) _- _accumulation_ – LUXR was on our “_suspicious activity watchlist_” 2 weeks ago for large block trades and the accumulation has remained steady. If the stock keeps putting in higher lows in the $0.50-$0.60 range it could very well be on its way to $0.75 and possibly even $1. (view chart) Links:
8. http://us2.campaign-archive1.com/u562f71d8f3e63a0f3d11c06&id5be45124&eacd6e714 9. http://www.profitspi.com/stock-chart.aspxid=LUXR&ca11807509 _YNDX (24.68)_ – _breaking out_ – Boasting a 23% gain on the year so far, YNDX has broken out above the $24 level for the first time since November.
Resistance is at $25 and then $26 with a greater move towards $30 potentially in the cards. Pullbacks that hold support in the $23-$24 range will keep us bullish on YNDX. (view chart) Links:
10. http://www.stockcharts.com/h-sc/uis=yndx _PCLN (675.50)_ – _all time highs_ – While AAPL has been the talk of the market lately, PCLN has quietly been putting in fresh all time highs. After a gap higher and consolidation period earlier this month, PCLN now seems poised to test $700. We expect support to emerge in the $660-$670 range. In the money call options have performed very well. (view chart) Links:
11. http://www.stockcharts.com/h-sc/uis=pcln Enjoy the rest of your weekend everyone! Sincerely, Your STOCKHAVEN Team p.s. our main chat room is still experiencing some issues so we have created a new room tittled “Temporary penny stock chat” to use for the time being and it is functioning perfectly.Stockhaven Chat Room Links:
12. http://www.stockhaven.com/stockchat **************
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