Friday's preperation

As I am writing this words (14-55 Kyiv time) , S&P index climbed more than 1.5%. This growth explained by good accounting from Sears, rumors that GM can have another offers for their Opel and Vauxhall. Today we dont have more events, news , etc , that can be economic drivers. Only Ben Bernanke will have speech @21-00 Kyiv time. Will see hows US market will open. But now we can expect that trend could change only after 21-00. Todays market character could be range as on Monday we have US holiday . So traditionaly we see low volume on day like this.
First lets look for pennystocks
MRM - growth expleined by earnings. Its not the best pattern to play in pennystocks but lets just keep on mind this stock. Pennystock which reported good earning more often just keep its growth. We could by it on strong market plus if we have possibility to pot small stop loss on high breakout. Or on weak market we can look for sidemove to identify key level and short on its breakout.
NMTI - This stock grew, but had bad earning report + analyst upgrade. So no question that it is nice short. Look for 1.9 lvl breakout with good volume to short.
OGXI - we had news about drug of this pharmaceuticals company last week. Its nice short, but we still didnt see sidemove.
NGSX - this stock is some dangerous due its thin but fundamentally its nice pattern for sell. 4.5$ breakout.
Other stocks
Today we saw bad accounting from British Airways. We can expect that airways will weak today. CAL and DAL - maybe the weakest from this sector.
Another pennystock list to look pennystocks

Thursday's stock list (some adds already here)

I see that majority of my picks for short are trading in good down move for 1,2,3 even 4 days. Maybe it coz good falling market (but pennystocks dont much correlate with market overall), but anyway lets try not only daytrade but and holding more long term portfolio of my pennystocks short.
FITB - will not repeat again. This is old stock from last stock list's. We already know factors which moved this stock. Short 7$ breakout, target - 5,5$.
BAC - last 5 days this stock trading in nice smoth down trend. We can expect such style moving to 10$. Short 11$ breakout. Dont forget about market confirmation.
USB - our old friend :-) . This stock can show some strength in short term. It's CEO told that USB will be ready to move out from TARP program. Expect sidemove. Then can trade range breakout.
VNDA - be attentive for news on it. Especcialy about their new drug. Look for sidemove on it.
ETC - think stock. We can try to build 500-1500 shares position using limit orders. But wait for sidemove at first.
F - can expect filling range from 5 to 5.25 lvl on Ford. This autobuilder already attracted capital from own stock offering. F sold own stocks @4.75$. We could expect lower supply for short term period.

CLWR - look how it will be trading at 5$ lvl. POtentional short.
CCE - have to be stronger then market today.
CVLT - look on what price it will open. Potentional short on 10$ breakout.
SNE, WMT - will be weaker then market today.

Review of 7th May

Closed BAc with profit 1990$. after big gap up on the open (BAC was raised due to Tim Geitner words about stress test resulst, analyst upgrades) , market and bac traded on resistance, dont having power to breakout higher.BAC was traded at 15$ region and began to go down. Think many speculators began fixed position after big gain overnight. Closed @14.68. Stress test results will be present after market close. Market filling positive on it, so will try to reenter in bac @14-13.5$.

BAC reentered @14.55 . Bullshit. Was stopeed 13.94. 610$ lose

TRK - was on list to short. Shorted @19.59.

CSCO - opened @20$ after good earnings. But then breakout range @19. Entered @18.94

BAC reentered @13.8 . SL@13.62 . 180$ lose

Closed TRK @19.37 - 220$profit. Too long sideway. Price formed base.

Shorted ELN @ 6.98 . SL@7.07 Moved up from 6.6 to 7 on 10x increasing volume.

Stopped with ELN @ 7.07. 90$ loss

MDT shorted @13.74. Found this stock during the market. Saw that there is no events for it today. It grew from
32.25$ to 33.89$. Then we had a pretty nice sideway move with big angle downturn. Closed 33.59 . MDT 150$ profit

CSCO closed @18.70. CSCO 240$ profit

Closed CSCO and MDT because of their sidemove versus falling market.

Again had problems with borrowing stocks in thinkorswim. LOst 3 good deals oportunities.

BAC... lost a lot on it during tradeday .. Needed just to wait for filling gap.
13.04, sl12.89 loss 150$

Overall per day - profit 1580$.

HOlding BAC overnight. Entered price 13.23. Now profit on it 1600$

Example of how Tim Sykes making money

I like this guy very much - Tim Sykes
This is a example of how he making money
Description
...because BCRX was up 100% on news of the swine flu, despite the CEO saying they don’t have a product even close to being ready to help at all.
This why he is trading pennystocks only :-)
And chart