Jeff Williams, lead trader at PennyPro.com likes volatility and there couldn’t be more of it than in two current investment opportunities, bitcoin and marijuana. Thus, he loves the volatility in Singlepoint Inc. (SING), a payments company with ties to both. The stock has bounced off its 50 moving average line twice in recent weeks and with that line now starting to ascend and with bitcoin on the rise, Williams believes SING is due for a small run as a swing trade; he bought the stock late Wednesday as a technical trade when SING broke through resistance, and he expects the stock to get into the range of eigh to 10 cents per share.
Jeff Williams is the lead trader of PennyPro.com. He is a short-term trader of stocks under $10 a share. He purchased 50,000 shares of SING at $.066 on Wednesday, Sept. 27 and, as disclosed in this interview, planned to sell that position in the range of $.08 to $.10 (with a stop loss roughly a penny below his buy point). The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.