See the chart of NAK below that is highlighted. If you see my past threads, I have documented how I had put (at one time) a 3rd of my account into this stock after the election. That was back under $1. I took half of that off in the 2's so I am playing with a free position now. Everything else for me on NAK is an add-on trade. The chart of NAK has been very predictable thus far. I highlight my 5 buys below all at support levels: 0.85, 0.90, 1.18, 1.55, and 1.80. I am still holding part of the 0.85 and .90 position, but I cashed half out at 2.10. All the other positions, except the 1.80 position, have already been closed out near whole round numbers like 1.50, 2.00, ect. This has been very successful, but you have to understand that I target big winners and play them heavily. Since I have been successful with NAK I keep going back to it. Don't know what the future holds, but it still looks bright, just look at how bullish the candle was on NAK yesterday-- all the dips are getting bought up quickly.
The current resistance is $2.50. NAK is still very much in play but I would only buy in on dip or carefully timed breakouts. I will close half of my 1.80 position at 2.45 or so and see if we can get a break to 3. If not I will close the other half. Most of my positions are 5-10% of my account and I look to stop out if they go 5-7% below my buy-point. So I don't lose sleep over this. Even if I lost 100% of my position (never happened before) I wouldn't lose that much sleep. While my initial positions are 5-10%, I start adding on to my big winners. That is the key, I am willing to funnel as much of 20-25% into a big winner. But I take profits along the way. The ultimate goal is a free ride like I had with NAK. I also had a free ride with NVDA which I foolishly closed out too early at 100. Most stocks are only good for 20% or so profits, but it is fun to try to find the life-changing stocks can have multibagger potential.
To answer your earlier question about JNUG, I do not have much experience with leveraged ETFs. However I am very hesitant to buy them. They are day-trade only since they are only calibrated to daily movements of GDXJ. Everything else is then reset and there is major slippage potential. I held non-leveraged ETFs in my retirement account extensively, but non-leveraged ETFs are much safer. JNUG is nothing like NAK other than they are both high-volatility plays on gold.
With NAK I can at least hold my money for a period of time without worrying about getting it hacked down by slippage, fees, end-of-day rebalancing, etc.
Lastly, while I do play penny stocks, most of the penny stocks I play are only for day-trades or short periods of time. When I really invest my money, for longer periods of time I try to put it into stocks with multi-bagger potential. Investors.com is one of my favorite resources and if you haven't read 'How to make money in stocks' it is my favorite stock-trading book.
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