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Hello fellow investors / traders,
I'm the first to admit the past week has been nothing short of terrible. It happens in trading, you plan for a trade and it doesn't work out.
The key is to stay disciplined and use proper risk management.
The winners I have alerted over the past several months have FAR outweighed the losers, so if you keep losses small, you should still be well and truly in the money.
But my focus now is on quality of trades, not quantity.
Today (and possibly for the next several days), check out Newlead Holdings (NEWL).
First things first, this is an idea for a SHORT TERM TRADE ONLY. I do not want you marrying this stock.
NEWL, a NASDAQ listed company on the verge of being de-listed and moved onto the Pink Sheets, has been literally destroyed over the past several months.
This demise, I suspect, has been a combination of shareholders selling, short sellers, financiers liquidating and day traders.
But after several days of relentless selling , NEWL could be in for a bounce today. Or if not, really soon.
Now listen up - I am not giving any kind of technical levels to watch or predictions. This could keep selling off.
But NEWL has a history of some pretty epic short term bounces, particularly when the company releases news or issues a statement in the media.
For example, NEWL recently bounce from around the same levels as it is trading at now ($0.35 ish) all the way to around $4.50 - a 1,185% gain in 4 days.
Now it is back at those same pre-bounce levels.
The Company put out this statement after the close yesterday which could serve as a catalyst for another short term bounce.
Now, here is the warning...
NEWL has a history of gapping up then immediately selling off. So you need to stay disciplined and nimble.
I will try send updates on my Twitter feed today on my thoughts in real-time, so make sure you are following me.
Finally, if it DOESN'T bounce today, that's ok. Just make sure you keep watching it as it is very possbile that it will bounce at some stage, and you want to be ready.
You may also want to watch NEWL for multiple "in and out" trading opportunities over the next few days, as it is likely to be somewhat volatile.
All the best.
ShiznitStocks.com
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