Benzinga Boot Camp Event Spotlight: Allen McCrum

Allen McCrum, COO of Prosperity Trades, is an experienced day trader with years of demonstrated success in the markets. He started his own performance car shop where he specialized in customizing higher-end vehicles. After six years, he sold the business that gave him the opportunity to start his career in trading.

McCrum prefers day trading, as he likes to exit trades and be in cash overnight. He focuses on low-float stocks and insider buying.

McCrum was featured on Benzinga's Boot Camp Event, which took place live via YouTube on April 10. He told Benzinga he's watching a couple of stocks right now including Condor Hospitality Trust Inc CDOR, which he said is near its lows and doesn't present too much risk.

McCrum also mentioned OptimumBank Holdings Inc OPHC, saying the stock caught his eye recently because of a "massive" insider buy. Nearly 300,000 shares were purchased by a director, he said. 

McCrum said he's looking for a technical breakout of the daily triangle pattern on Lianluo Smart Ltd LLIT. Companies are aware that traders are charting the technical patterns, he said. In a technical pattern like this one, McCrum said it's not uncommon to see a press release that will cause the stock to break out of its trading range. 

McCrum also likes MER Telemanagement Solutions Ltd MTSL from a technical standpoint. The stock is close to a 52-week high and he thinks it could break out soon.