Traders, We always like to bring you different trade ideas that wall street wont think twice to look at. In most cases a lot of our trades are penny stocks. Micro cap stocks offer a chance for regular traders to make decent returns as long as you are on the right side of the trade. Timing is one of the most important tools in trading. A good trade idea could turn into a bad investment if the timing is wrong.. (Keep that in mind)
USAU showed promise yesterday when the company released solid news and the stock started to trade on serious volume. We saw pre-market activity this morning trade as high as $3.20 which is a bullish sign but when it creates a gap in the stock we sometimes tend to see the stock retrace at the open to cover that gap.
We sent an email around 11 a.m when we noticed that stock had covered its gap and started to move in the right direction. Although, USAU closed red there were some small opportunities to make money. Again, we're saying small because the stock kept bouncing from $2.90-$3.00 through out the day.
These are not the gains that we were hoping for during intraday trading but the 1 month chart on USAU looks to be on a bullish trend.