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Top Stocks to Watch Today: Thursday, July 8

I have seven top stocks to watch today…

Some return from last week. The longer these stocks hold up, the longer they’re in play and on watch for dip-buy opportunities.

There are so many spikers, short squeezes, and multi-day runners right now…

But we’ve also seen some one-day failed spikers. That’s why I’ve cut down my list to focus on only the best stocks and setups.

Because trading the wrong stocks doesn’t only cost you capital — it costs you missed opportunities.

If you’re busy trading a stock that goes nowhere, you could be missing out on higher-volume volatile stocks that can help you grow your account.

So find your focus.

Here are the top 7 stocks to watch today…

7 Stocks to Watch for Thursday, July 8, 2021

Remember, this is a watchlist, not a ‘must trade’ list. I’m not always right, and I don’t trade everything I watch. That’s why you should never blindly follow or buy anyone’s stock picks — even mine.

But there’s always something you can learn.

Watch out for patterns that fit your strategy. Always have a trading plan for every trade. Here are some resources to help you get started:

If you’ve been following my blog and lessons, you know I love to trade low-priced stocks. (To learn more about trading penny stocks, get my FREE guide here.) 

The stocks on this list aren’t penny stocks. Even if I rarely trade higher-priced stocks, their movements can still affect stocks within my price range. So to me, they’re worth watching.

If you want to know which penny stocks I’m watching…

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Need more stocks to watch? Subscribe to my weekly watchlist and I’ll deliver the stocks I’m watching every week right to your inbox.

👉🏼 SUBSCRIBE to my no-cost weekly stock watchlist here.

For even more stocks to watch, check out these blog posts that I update weekly:

Now, here are 7 top stocks to watch today…

Stocks to Watch Today #1: Newegg Commerce Inc. (NASDAQ: NEGG)

NEGG operates an online marketplace for computer hardware, software, tablets, and gaming products.

On June 18, Seeking Alpha reported the stock had high short interest. And on June 30, the stock spiked on high volume. It squeezed from $10.85 to almost $20.

After the stock consolidated for a few days, Seeking Alpha released another article announcing that Newegg “had four models of Nvidia’s (NVDA) hard to get GeForce RTX GPUs available.” The GPUs were available through a company product lottery.

Finally, on July 7, the company announced it now offers on-demand assembly of custom PCs. That news sent the stock full supernova. It went from a low of $28.19 to a high of $71.14 within the first hour of trading.

The stock’s super volatile due to its low float of roughly five million shares. And this massive move’s all part of a giant short squeeze. I wouldn’t chase it. Traders can watch for a potential dip-buy opportunity into a big panic.

 

Stocks to Watch Today #2: Alector Inc. (NASDAQ: ALEC)

ALEC is a biotech company that develops therapies for neurodegeneration diseases.

The stock gapped up huge on July 2 after the company announced a global collaboration with GlaxoSmithKline (NYSE: GSK).

The companies will collaborate on “the development and commercialization of two clinical-stage, potential first-in-class monoclonal antibodies (AL001 and AL101) designed to elevate progranulin (PGRN) levels. PGRN is a key regulator of immune activity in the brain with genetic links to multiple neurodegenerative disorders.”

Read the full press release here.

The stock has been consolidating in the high $30s for two days. Volume is fading so it’s on watch for a potential morning panic dip-buy opportunity.

 

Stocks to Watch Today #3: Lightwave Logic, Inc. (OTCQX: LWLG)

LWLG develops devices and materials for fiber-optic communications.

Its chart pattern fits my 7-step framework to a T. Study up and burn the pattern into your brain. It repeats over time.

Get my “Pennystocking Framework” DVD for more lessons on the pattern. It’s a $797 value, but you get it as a bonus when you get my 30-Day Bootcamp.

Find out how I did on my recent LWLG trades in my recent video lesson here.*

Subscribe to Profit.ly if you’re not already a member. You’re missing out on so much valuable information.

I’ll keep watching LWLG for potential dip buys into any big morning panics.

 

Stocks to Watch Today #4: Data Storage Corporation (NASDAQ: DTST)

DTST is a tech company that offers data protection, data recovery, and cloud storage.

It’s a former supernova runner. Its volatile moves are due to its low float of roughly three million shares.

There’s no recent news on the company. It’s a Twitter, Reddit, and social media pump. And it’s riding the sector momentum of low float short squeezes. On July 7 it gapped up from $7.29 to $12.60 but faded back to the $9s.

I’m only interested in potential panic dip-buy opportunities. But it could also squeeze higher. These low floats can move FAST, so trade safely.

 

Stocks to Watch Today #5: Marin Software Incorporated (NASDAQ: MRIN)

MRIN is a tech company that provides marketing software for advertisers.

It’s a multi-day runner, but volume’s fading and it had some huge red days. It’s another stock I’m watching for a potential dip buy into any big morning panic.

But if dip buyers come in and shorts are forced to buy to cover, it could have another powerful short squeeze.

 

Stocks to Watch Today #6: Bridgeline Digital, Inc. (NASDAQ: BLIN)

BLIN is another tech company. It offers platforms for companies to create their own websites, online stores, and apps.

It’s also another multi-day runner spiking on social media pumps.

But it’s way off its highs — it’s down from $14 to the $8s in the last two days.

On July 7 the company announced a footwear company’s “Indonesian subsidiary chose to use Celebros to improve their online experience.

“They were impressed with Celebros’ ability to drive traffic, boost conversions and raise average order value on the other sites in its group and wanted to see what could be enhanced for this footwear brand.”

Read the full press release here.

The stock could squeeze back to the upside if it can get over $10. But I hate to chase these choppy stocks. I’m watching for a panic dip buy opportunity only.

 

Stocks to Watch Today #7: Opiant Pharmaceuticals, Inc. (NASDAQ: OPNT)

OPNT is a biotech company that develops treatments for drug overdoses and addictions.

The stock’s trading high volume for the past two days. It had a massive gap up to new 52-week highs after announcing positive data from the study of its nasal spray treatment for opioid overdose.

“The study was conducted in 68 healthy subjects and compared OPNT003, nalmefene hydrochloride nasal spray, 3 mg, (“nasal nalmefene”), with an intramuscular nalmefene hydrochloride injection, 1 mg, which was the comparator previously agreed upon with the U.S. Food and Drug Administration (FDA).”

Read the full press release here.

OPNT’s another low float stock with roughly four million shares. It could move fast and squeeze higher. But again, I won’t chase. I’ll wait for a potential dip buy opportunity into a big panic.

 

How I Find Stocks to Trade

There’s no big secret behind how I find stocks to trade. I always tell students to look at the biggest percent gainers on StocksToTrade.

Full disclosure: I helped develop StocksToTrade. I also invested in it. I wanted a tool to help me search specifically for the low-priced stocks I love to trade. I’m proud of it, and I truly believe this platform offers the top tools for traders to find and research stocks of any price..**

STT has built-in watchlists, scans, beautiful charts, and all the indicators active traders need. It also has a social media feed and a news feed. And it includes broker integration so you can trade right from the platform.

penny stock checklist

I use it every day to find the stocks that fit my strategy — like volatile penny stocks with a catalyst and high volume.

And I credit the StocksToTrade Breaking News Chat feature for a huge portion of my over $1.1 million in profits in 2020.* The guys who run this service crank out breaking news FAST.

Try a 14-day trial of StocksToTrade with Breaking News Chat for only $17! 

Frequently Asked Questions About Stocks to Watch Today

What Are the Best Stocks to Trade as a Beginner?

My favorite stocks to trade are penny stocks. I think they’re a great way for beginners to learn the trading process with a small account.

Can You Get Rich Trading Stocks?

Don’t come into trading with a get-rich-quick mindset. Trading is a marathon, not a sprint. It can be a lucrative career but it takes years of hard work and dedication to learn the nuances of the market — which is what I teach.

How Much Money Do You Need To Start Trading Stocks?

Only start trading with money you can afford to lose. You can start small. In fact, I teach traders to focus on education first to learn the process, then slowly scale up over time.

Is Trading Stocks Risky?

All trading is risky. No trader is right 100% of the time. That’s why I keep my losses small by cutting losses quickly.

Conclusion About Top Stocks to Watch Today

Remember to only use this list of stocks to watch as a guide. Dig deeper into why these stocks are on my watchlist. Use all my trading resources to build your trading education.

I want you to become self-sufficient.

I’m just training wheels. And I’ve had the privilege of working with many top traders in my Trading Challenge. It’s a proud moment for me when they prove they don’t need me anymore. They take my lessons and strategies and make them their own.

If you want to get the same education as those top traders, apply for my Trading Challenge. I don’t accept everyone. Honestly, I don’t have time for anyone who only wants to be spoon-fed ‘hot’ stock picks.

I teach the trading process, mindset, strategies, and patterns to help my students find their own way in the markets. If that’s your goal as a trader, apply today.

What do you think about these top stocks to watch today? Do you see potential trades? Let me know in the comments … I’d love to hear from you!

**Tim Sykes has a minority ownership stake in StockstoTrade.com.

*Tim Sykes’ trading results are not typical and do not reflect the experience of the majority of individuals using the services and products offered on this website.  From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit.

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