Things may be choppy out there these days, but that doesn’t mean there aren’t plenty of stock market opportunities…
It’s that time again folks, welcome to the latest edition of Bohen’s Take.
In this edition, I’ll (finally) talk about the awesome conference I hosted with the one and only Tim Sykes.
You’ll also learn about the most supportive community of traders I’m thrilled to be a part of…
And speaking of choppy markets, I’ll tell you about an awesome little trade setup that saw a quick 50% gain. It’s a perfect example of how to adapt your trading to the current conditions — and find trading opportunities.
Plus, I’ll tell you about an investment bible you’ve gotta read…
Let’s get to it!
Table of Contents
What’s the Haps
First, I gotta tell you what an absolute BLAST I had at the Trader & Investor Summit last month. That’s the conference that Sykes, the team, and I put on each year in Orlando, Florida.
It seems like I enjoy it more and more each year. I absolutely love getting out there, meeting traders face to face, and talking markets.
I did a bunch of speaking at the podium, did some live trading with Sykes, shook a heck of a lot of hands, and took a ton of selfies … It was awesome!
If you’ve never attended one of our summits, I strongly advise you set a reminder in your calendar for September next year!
These summits are insanely good value … They cost about $300 to attend. And you get three days of lessons from top traders. Plus you can have a great time meeting other traders, networking with others who are just as crazy about the markets as you.
If you can make it, you’re crazy not to go!
One of the best parts of the three-day trading extravaganza was getting to meet a bunch of StocksToTrade Pro members in person.
Tim Bohen and several amazing StocksToTrade Pro members (Photo courtesy of Tim Bohen)
We had about 25 StocksToTrade Pro members attend the summit. I was able to wrangle most of them into a conference room so we could mingle and get to know each other.
Here’s something I love about STT Pro: we’re building a really supportive team-like community. I’m feeling hella proud at the caliber of the people we’re attracting.
Right now as I look in the StocksToTrade Pro chat, I feel like a proud father. I see members helping each other out, sharing spreadsheets, exchanging numbers, and talking trading plans. That sense of community we have with STT Pro is something that a lot of traders miss out on…
I don’t want to gush too much about it, but having a community can help you feel supported in your trading and your education. It can also make you feel less lonely as you face the markets. Learn more about joining our trading and educational community and StocksToTrade Pro here.
That’s a wrap on the summit … so what am I up to on the home front?
Well, if you know anything about me, you know I always have some wacky thing I’m obsessed with. Right now, it’s lawn care…
I always thought I knew a ton about having an immaculate lawn. But thanks to many hours on YouTube, I’ve learned there’s a lot I didn’t know…
Right now I’m on a mission to have the greenest, most perfect lawn you’ll ever see before the winter settles. Feel free to drop me some lawn-care tips in the comments below…
Via Shutterstock (ID: 534465157)
Trade of the Week
When it comes to trading, you can’t force trades. Instead, you have to meticulously research to find opportunities.
I usually love to trade stocks in the $4 to $10 range — the higher end of penny stocks…
Unfortunately, all this trade talk news is pushing the market up and down all the time. So my favorite stocks to trade are super choppy recently.
Am I worried? Not really. It’s just a sign that I need to look for other areas that are producing quality trade setups. So where are all the stock market opportunities these days?
Lately, we’re finding them in true low end, the cheap penny stocks…
And we found an example one of those solid trade setups (and this week’s trade of the week) in the tiny biotech ticker ADXS.
Advaxis, Inc. (NASDAQ: ADXS) with a breakout and 50% rally (Source: StocksToTrade)
We spotted this one in the StocksToTrade Pro chat room when it broke out above 30 cents with heavy volume on October 3. Within five trading sessions, we saw the stock grind beautifully all the way up to around the 45-cent level. That’s a pretty smooth 50% gain for those who bought around the breakout level.
What’s really interesting is that if you look at the long-term chart, it’s been beaten down horribly. It’s lost over 90% of its value in the past few years.
Even with what looks like such a crap long-term trade, we still had the opportunity to make a quick 50% gain. These are the kind of setups that are working right now. They can be good for a quick day trade or a swing trade.
In the current market environment, my one big tip for finding stock market opportunities would be this: modify your scans.
Set your scanners to look for opportunities at the small end of the penny stock market. I’m talking stocks in the range of 20 cents, 30 cents, $1, or $2 … I’m thinking that’s where we’ll see the opportunities — at least for a little while.
Don’t have access to a scanner? Or are you looking to improve your current setup? Check out how easy it can be to scan all you want AND much more. Grab your 14-day trial of StocksToTrade for $7!
Via Shutterstock (ID: 540952768)
Feature of the Week
BIG NEWS: StocksToTrade had an update earlier this month. And in light of that, I’d have to say the feature of the week is simply the many tweaks and improvements we’ve made to the platform…
I know … you update apps all the time, right? But we’re a little biased here at StocksToTrade. We just love what we’ve built. We’re dedicated to keeping it up to date and running smoothly. So we’ve added and improved a few features to make the platform easier to use and more stable. We want it to feel like a well-oiled machine.
Seriously, we made a TON of little tweaks. Click here to check out the changelog … plus you can get a glimpse of how we really want to make the platform fit your trading needs…
So if you maybe tried StocksToTrade in the past and it wasn’t for you, now’s a great time to come back and see how much work we’ve put into the platform. Grab your 14-day trial for $7!
What I’ve Been Reading
Right now, I’m devouring “The Intelligent Investor” by Ben Graham.
I’ve been an absolute crazed stock-market nutcase since I was in grade school … And I’m actually kind of embarrassed to admit I’m only now reading this book for the first time.
“The Intelligent Investor” is widely regarded as the canon of investing and fundamental analysis. Even certain legendary investors hail this tome … The book is all about fundamental analysis and investing in undervalued stocks for the long term.
You’re probably thinking, what the heck does that have to do with short-term trading?
Via Shutterstock
That’s a question I often ask myself: Will the information I glean from something help me trade a failing company’s 30-cent stock?
In this case, absolutely it can. At the end of the day, we’re still looking at balance sheets and evaluating the financials of these low-priced stocks … Plus, it’s always a good idea to grease the grooves and absorb as much trading and investing knowledge as possible.
I look at it as another investment in my trading knowledge. So even if I pay around $15 for a book, if I get one simple idea that helps me in my future trading process, the book can easily pay for itself many times over.
And if you’re reading this blog, you’re probably a market obsessive like me … And I think everyone should read this book!
Apart from reading, I’ve also gotta tell you about an awesome little documentary series I watched on Netflix called “Inside Bill’s Brain.” It’s a three-part series all about Bill Gates, the founder of Microsoft.
I was a nerd growing up, so I’ve always been a big fan of Mr. Gates. The series is pretty wild — it talks a lot about the huge mission he’s on trying to change the world with his charity. And it gives a peek into his daily life.
What I found interesting was how much of an avid reader Bill is. The guy’s about 70 and has an assistant who carries around a tote bag full of books. He’s reading everything. That’s my kinda guy!
Crazy smart guy, totally badass docu-series. I highly recommend you check it out!
Via Shutterstock (ID: 278895623)
The Wrap
That’s it for this edition, I hope you learned a thing or two…
If you missed out on attending the summit, that sucks. But don’t despair, you can purchase the T&I Summit DVD and check out all the talks and lessons…
DVDs are awesome, but I hope you try to attend the summit next year. I’d absolutely love to meet each and every one of you…
Are you finding the current markets tough? It’s sure choppy out there right now, but the markets won’t be like that forever. There are still stock market opportunities…
Here’s what savvy traders can do: adapt. Right now you can look for stocks with breakouts and news catalysts at the smaller end of the market. That’s a tiny snippet of the strategies we’re focused on inside the StocksToTrade Pro community.
Ready to supercharge your learning curve? Come and interact each day with me and a supportive community of traders … join us at StocksToTrade Pro!
What’s YOUR trading community like? Who do you talk to about the markets? Comment below!