001. PIGGISH PENNY PLAY - Long CPSHWow, it's been a long time since I traded in penny land. I first became an official piglet after getting roasted trading bio-pennies unsuccessfully for a year. They would pump, I would buy and they would dump. Despite being 21 years old, I should have picked up on the nature of this, rather obvious, pattern within the first 11 months. However, I did not, and I lost enough 100 dollar bets with the OTCBB that I finally learned my lesson (sort of).
The silver lining?
None.
But, I do know a penny stock when I see one, and this stock doesn't fit the billing. In fact, it had the unfortunate luck of IPO'ing just before the Dot-Com bubble and offering technology way ahead of its time. On second thought, the then-CEO was probably just a greedy pig, IPO'd to catch the trend, and stagnated the company from starting its natural trend for 20 years. Silly CEO - tricks are for market makers.
Yet, this stock really did just start its true trend and it has built up quite the perfect-looking base. As a growing producer of metal-matrix composite components and a slightly different, more miniature version of TSM (Taiwan Semiconductors), this stock screams 5G hysterical rocket to somewhere between penny-land and tesla-land.
And it is primed to do so very soon. In fact, I think this latest move up is going to break out above both resistance levels in a single gap. Best to get in before such a move up, but an entry on the initial pullback works fine too (think NIO for reference on how to play this right).
Not only technically ready (MACD couldn't be better positioned), but I think the straw that breaks the camel's back will be a stong ER beat from TSM before Thursday's open.
While there are no options available at the moment, I will be buying many shares tomorrow, and holding on for dear life thereafter.
Although this is a "penny stock," it will not be for long, so this move is quite low-risk compared to pretty much every post I've made to-date.
- Pigletz 2 Pigz
NASDAQ:CPSH
NYSE:TSM
