- Jason Bond Picks (Member)
- Posts
- Time to buy SOUN?
Coffee!
IWM is trading right at the 10-day EMA. I expect a multi-year uptrend in penny stocks as soon as the Fed starts cutting rates. I traded penny stock options (IWM) very well in 2023 and I’m considering going on the offensive again with that type of trading. Here’s my IWM options trading from last year.
Results not typical. Trading is hard. Nothing is guaranteed.
Penny stocks go up when interest rates come down and they could be coming down as soon as this summer. Then they will keep coming down and stay down for years. This makes now the perfect time to check your tool belt for strategies related to penny stocks. For me it’s options buying, mentioned above, and trading penny stocks.
This is why I started the $25,000 penny stock challenge. And it’s off to a great start. I don’t think there’s many traders as good at this as I am, so let’s see how fast I can get to $1,000,000 to prove it.
Results not typical. Trading is hard. Nothing is guaranteed.
Remember, all trades are journaled here, just like in the old Jason Bond Picks days. I’ll try to keep this up until I hit the goal. No guarantees I will, but I’d bet on me and I am. Already up $7,000 in under a month and I’m only trading $4,000 positions.
Results not typical. Trading is hard. Nothing is guaranteed.
I am looking to get more exposure in the short game so I’ll probably move my funds from Charles Schwab to Centerpoint soon. Interactive Brokers is a good option too. The wins on CTNT and BZFD illustrate how having that tool in the tool belt can lead to some very big wins. I’ll keep you posted but this time around I definitely want to have a more balanced attack long and short penny stocks.
I plan to do a lot of day trading, mostly from 7-10A EST. And I love swing trading penny stocks so there will be plenty of those too.
We’ll use the APP a lot for advanced notice so be sure to enabled JBP alerts.
Into Thursday’s session I have a small position in SING at $.36. I’ll look to add on a dip and trade for $.40.
Jobless claims at 8:30A EST will move the market so we’ll watch the IWM close this morning, but I think it’s clear rates are coming down soon unless something drastic happens with inflation. So I won’t be trying to read the tea leaves much here, the game plan is what I wrote above, the penny stock wave is coming and I’m ready for it.
With NVDA’s smash I think we should be watching SOUN today. It’s a bigger company so I go with bigger size and look for less % gain. I like it from $5.50-$6+ and think this is in play through the range of $10.
As always, more ideas will flow in the chat room and to the APP. I hope you make use of both.
Eat, sleep & trade,
Jason Bond
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