Is your watchlist full of out-of-play stocks instead of actionable trades? If so, you’re not alone.
It’s common for new traders to keep adding stock after stock and never clean it up. Let’s change that right now.
Is $1 the Key Level to Unlocking the Fastest Gains In the Market?
Table of Contents
The Big Picture
If you use the rolling watchlist methodology, then today’s newsletter will reinforce what you’re already doing. If you’re not using a rolling watchlist, this will be a game changer.
Let’s use the stocks I put on the watchlist here over the past week and run them through the rolling watchlist methodology.
Keep in mind that I recommend you create a rolling watchlist for each day of the week, so this is more of a thought experiment.
With that in mind, let’s clean up the watchlist. We’ll take a look at what the stocks have done since, and determine whether they should be culled or kept on watch.
Here are the stocks from the past week:
Sept. 30: Stablecoin Development Corporation (AMEX: SDEV)
SDEV made the watchlist after it spiked, held VWAP, and consolidated into the close on Sept. 28.
The idea was that if it continued to hold and chop sideways, there could be a day-three surge on Thursday, Oct. 1.
SDEV, 9/28/226 to 10/6/26
SDEV did a mini day-three surge before turning into a banger Friday squeeze on day four. The squeeze continued in premarket trading on Monday. Then it tanked at the open after a Fugazi short report.
SDEV: Keep or cull?
SDEV is likely done after Monday’s decimation. Also, volume dropped considerably yesterday. Now, with enough volume, it could squeeze short sellers. It’s not a top watch, but I’ll keep it for one more day.
Oct. 1: The Generation Essentials Group (NYSE: TGE)
TGE was an earnings winner. The idea was that if it continued to trade sideways, it might break out for a continuation move.
TGE 9/29/26 to 10/6/26
TGE did break out of the channel in after-hours trading on Sept. 30 before it double-topped and gave it all back.
TGE: Keep or Cull?
TGE pulled the classic penny stock lifecycle and died at the open on Oct. 1. And trading volume dropped off a cliff. It’s a cull.
Oct 2: Space Exploration Technologies Corp. (NASDAQ: SPCX)
Obviously, SPCX is a real company and isn’t our normal day trade candidate. You can look at it either as an investment (I think it will be one of the most important companies in history) or as a swing trade.
SPCX 10/2-6/26
SPCX is up nearly 17% since Friday’s open. It broke out of a month-long consolidation in the $145–$160 range and is trending up.
SPCX: Keep or Cull?
Solid volume with a beautiful breakout over consolidation? Easy: SPCX is a keeper. Remember to look for good entries if you plan to swing trade SPCX.
Oct. 5: QTREX Quantum Ltd. (NASDAQ: QTEX)
QTEX moved Thursday and Friday (Oct 1-2) on positive news. I was watching for a day-three surge on Monday.
QTEX 10/2-6/26 5-min candles
QTEX gapped up on Monday, faded into the open and then worked its way back up to squeeze shorts in after-hours trading.
QTEX: Keep or cull?
QTEX is still up and trading higher than average volume. It may be done, but I’ll keep it on the watchlist for now.
Oct.6: WISeSat. Space Holdings Corp (NASDAQ: SAIQ)
SAIQ was my pick yesterday. It got everyone’s attention after-hours on Friday after announcing completion of a SPAC merger and subsequent Nasdaq listing.
SAIQ 10/2-6/26 5-min candles
SAIQ failed to hold above VWAP, failed to hold $6 per share, and announced a potentially dilutive private placement yesterday.
SAIQ: Keep or Cull?
Considering the lack of strength, potential dilution, and the huge drop in volume, SAIQ is a cull.
My Take
The process I’ve described above can be done in about 10 minutes per day.
Go through your watchlist and cut anything that’s getting in the way of a focused list. Keep your rolling watchlists up-to-date by doing them at the same time. I do mine at night for the next day.
Watchlist
Olenox Industries Inc. (NASDAQ: OLOX) was a social media pump and momentum mover yesterday.
OLOX 10/5-6/26, 5-min candles
OLOX based near the lower Oracle support & resistance level at $1.38. I like a break of $1.71 with risk at $1.59, and reward at the major resistance of $2.22.
On My Radar
- Anthropic announced plans to expand its Claude Startups program
- The September FOMC Minutes release today at 2:00 p.m. ET
- I talked about this book on Pre-Market Prep yesterday: “Extraordinary Popular Delusions and the Madness of Crowds” by Charles Mackay (fun read for traders and history buffs)
- This obscure sub-$5 setup could benefit from America’s coming drone boom