22nd Century Group Inc (XXII)

[Sendme]

Who hasn't. LOL Been in enough "sell the news" events as well. It's all a gamble my friend, especially when dealing with penny stocks. Most big institutions won't buy anything under 5.00, they call them garbage stocks, best way to fix that is with a R/S. No, that is not what I am saying here, but yes, I have been caught in those as well.

These are like a needle in a haystack, hard to know exactly which ones are going to make that big move. But IMHO .60 to 3.50 was a nice move already. I have let greed get the best of me before. That is why I like to trade patterns, they generally give me an entry, exit and stop loss target. Scaling out is always a nice plan, booking profits is the name of the game. Take 50 to 80% off the table when a stock is up almost 600% and let the rest ride or buy in lower.

The stock market is run by computers that are designed to take all of our money, they don't sleep or get tricked by emotions. LOL

Maybe keep an eye on the weekly RSI, notice how price reacts above and below that red line at 50.


I think the bottom line is going to come down to how the RSI reacts if the stock puts in new highs. It looks like the fibs are getting sold off at each major level, the .618 is next, Keep an eye on the weekly RSI IMHO if it doesn't put in a new high when the price does, it can be a red flag!!!