WINDERMERE, Fla. (Stockpickr) -- There isn't a day that goes by on Wall Street when certain stocks trading for $10 a share or less don't experience massive spikes higher. Traders savvy enough to follow the low-priced names and trade them with discipline and sound risk management are banking ridiculous coin on a regular basis.>>5 Big Stock Charts You Need to See Just take a look at some of the hot movers in the under-$10 complex from Wednesday, including Paragon Shipping ( PGRN), which skyrocketed by 21.1%; Canadian Solar ( CSIQ), which soared by 18.1%; and Suntech Power ( STP), which ripped higher by 12.6%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading. One low-priced stock that recently went bananas to the upside was Peregrine Pharmaceuticals ( PPHM), which I highlighted in Jan. 04's " 5 Stocks Poised for Breakouts" at around $1.40 a share. I mentioned in that piece that shares of PPHM were starting to bounce off its 200-day moving average of $1.21 and it was quickly moving within range of triggering a breakout above the upper-end of its recent sideways trading pattern. I also mentioned that if PPHM triggered that breakout, then the stock would have a great chance of getting into its previous gap down zone from last September that started at $5.50 a share. Guess what happened? Shares of PPHM triggered that breakout the next trading session with massive upside volume. Had you bought the stock in anticipation of that breakout on last Friday, then you banked some serious coin in just a few trading sessions. Shares of PPHM went on to hit a high of $2.78 a share on Tuesday, before selling off back to its recent low of $2 a share. If PPHM is going to see any more upside in the near future, then it will need to take out $2.78 a share with high volume. Low-priced stocks are something that I tweet about on a regular basis. I frequently flag high-probability setups, breakout candidates and low-priced stocks that are acting technically bullish. I like to hunt for low-priced stocks that are showing bullish price and volume trends, since that increases the probability of those stocks heading higher. These setups often produce monster moves higher in very short time frames. I'm not as eager to recommend investing long-term in stocks that trade less than $10 a share because these names can be very speculative, and the odds for picking the long-term winners aren't great. But I definitely love to trade stocks that are priced below $10. I like to view them as a trading vehicle with lots of volatility and lots of upside when the trade is timed right. When I trade under-$10 names, I do it almost entirely based off of the charts and technical analysis. I also like to find under-$10 names with a catalyst, but that's secondary to the chart and volume patterns. >>5 Huge Trades for a Volatile 2013 With that in mind, here's a look at several under-$10 stocks that look poised to potentially trade higher from current levels.
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