I took a trade in PWEI this morning. Unfortunately I missed the first alert at the open due to an important phone call, but I decided to buy the dip to see if I could grab a few cents. I normally would never do this however the stock had an unfilled gap just under $.22 and gaps almost always fill. I bought 40000 shares at $.188 and sold 40000 at .199. Unfortunately the stock didn’t do much and I only walked away with a $.011 gain on this penny stock trade which resulted in a $430.00 profit for me. I call these type of trades scratch trades but $430.00 certainly is better than a loss so I will take it. I decided to sell my position because the stock really was not doing much at all and I don’t like this sort of situation. It probably will close at the high of the day and gap up but I will take what I can get and wait for the next setup.
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