Why these Stocks are my favorites for day trading
You may have heard me say that I do not believe in giving or taking Stock Tips. That is definitely the truth because my worst trade ever was a stock tip that sent the $2/share stock (and I bought a lot of it) soaring downwards to its current value of…¼ of one penny.
See my Yahoo! Finance interview with Jeff Macke where I talk about my worst stock trade ever: http://yhoo.it/YitA38
The reason I am not in favor of giving or receiving stock picks is because:
- Your in and out timing may be different than the person giving the advice, and therefore, the results will not be the same;
- Many people take a stock tip and invest without studying the stock for themselves.
- Sometimes a stock tip is suggested because the tipper wants to move the market in his or her favor.
I am in favor of listening to the stock favorites of some people and learning from them on why they think a particular stock has strengths or weaknesses. You can then use that information to profit from trading that stock. That is why today’s blog is about the stocks I love to day trade.
My favorite Day Trading Stocks
The following stocks are ones I’ve traded for a quick, short-term gain. I use my own set of criteria I call HUMV to screen for these stocks, and I almost always use this method as a quick, efficient, ‘first audition’ to see which stocks make it through to the second round for more serious consideration.
HUMV – First Audition for stock favorites for Rachel Fox’s Stockwatch List
- High Trade Volumes
- Under $80
- Most moves based on technical analysis, not on mainstream news
- Very volatile
Enjoy looking at the list below and use them as a starting point to begin drafting your own stock choices. Remember…I always recommend researching every stock choice for yourself. Don’t depend on my mind (or anyone else’s) to make your great trade.
Oh, and there’s one more warning..tThis list changes constantly. You may see this list on February 19, 2013 and it may be different on February 20. This is because the stock market is dynamic, ever-changing, and erratic. Even based on that alone, I encourage you to look into the choices, and if you have questions, go ahead and tweet me at @foxonstocks. If you catch me, I’ll give you my up-to-the-second opinion. If you don’t catch me at the tweet desk, trust your own instincts. It may become the best trade of your life and you will be so happy and empowered.
Many Happy Returns and here’s the list,