Precious Metals | Technology Penny Stocks

Source: Penny Stock Detectives Precious Metals - Technology Penny Stocks Technology penny stocks are worth trolling for in this stock market. Event-driven trades based on earnings or other major corporate developments have legs in a market that’s holding up. Sector-wise, my preference remains with biotechnology stocks and precious metals for speculators, but a good value trade is always worthwhile.

Sify Technologies Limited (NASDAQ/SIFY) is an Indian technology penny stock that’s worth keeping an eye on in this market. The position recently moved higher on the stock market after the company reported its quarterly earnings, and has been trading flat around the $2.00-per-share mark since June.

Technology penny stocks are a great industry group for those risk-capital speculators looking to buy low/sell high. Of course, it’s always more difficult than it sounds to employ this investment strategy successfully, but like I say, we have a stock market that will carry event-driven momentum, and traders can work with this. You can piggyback event-driven price moves in this stock market. Sify’s stock chart is below:

Chart courtesy of www.StockCharts.com Another technology penny stock worth keeping an eye on is Micron Technology, Inc. (NASDAQ/MU), which is actually a large-cap company that you may already be familiar with. The company has had a tough year, both operationally and on the stock market, but the Street expects a substantial turnaround later next year. The position isn’t far off from its 52-week low, and the stock now falls into the technology penny stock category. Micron Technology’s stock chart is below:

Chart courtesy of www.StockCharts.com Investor sentiment is positive right now, as earnings are coming in mostly as expected. Playing this positive sentiment among technology penny stocks is possible, but I’d only stick to those with companies reporting positive, turnaround events, and that are producing upward price momentum on the stock market. Because this market is not expensively priced, it has lots of room for all kinds of risk-capital strategies. What I’m not sure of is how long the current price momentum in the main stock market indices is going to last.