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Palmer
1
Palmer Jun 11, 17 7:45 AM

They are, for the most part, emotionally hype driven one-hit wonders. The 'trend' can last all of a few minutes or a few days and they are done. We are simply trading the newest headline for these low-priced and low float stocks. The only real exceptions are

Palmer
1
Palmer Jun 11, 17 7:48 AM

the earnings winners that can run for a a lot longer or maybe a Phase 3 drug biotech success story...just know that cancer is a lot more news worthy than toenail fungus there. Soooo...as far as a 'recession' goes and penny stocks..I would put very little weight in how it affects (or effects - never got that one straight) the trade ability of them. Just my 2 cents here.

bank_a_tronic
1
bank_a_tronic Jun 11, 17 9:20 AM

Then sometimes traders tend to concentrate & hone in more of the same & it the trend of traders' price action is to move that stock it can RUN. We should absolutely not be worried, as traders, about a healthy correction drop of @ 1500points, or even a bear market. We are at the right place to be either way! Even if lamestream media is panicking or hyping it up, us traders will always spot potential & trade it! :))

bank_a_tronic
3
bank_a_tronic Jun 11, 17 9:31 AM

Tim has mentioned the likelihood of some of these patterns inverting. On days when the Pre market futures are down & then at the bell when the overall markets are down we see resistance points hold stronger. ie: former highs, moving averages... so some stocks like earnings/contract winners may take longer to play out as long as chart signs keep holding.

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april4

@Turbobob can you pls review XOMA and share your thoughts? it is a perfect wedge now....do you think it will surge up now?

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april4
april4 Jun 10, 17 12:16 PM

@BigBobby pls see that chart and let me know your thoughts.....else I guess i need to unlearn wedges and learn them accurately...lol

april4
april4 Jun 10, 17 4:31 PM

thanks Bob!

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