I scooped up 5k in the basement before things started going back up so I'm green on the day for now (it's the only thing I'm green on, but I'll take it). Lots of companies delaying in these times, not ideal and if it were a riskier investment I'd probably have bailed this morning, but ALPP is rock solid under the hood. Unless outside circumstances screw things up (which is possible with any stock) I'm with it through the end of the year.
FRSX also moved their earnings to Monday, so I'm locked into weekend holds. Probably good to take Friday off once in a while (unless that dime piece DECN decides to get frisky).
Finding them mostly scanners looking for parameters, and bouncing ideas off other penny traders. You're right that most of them are shithouse money pits, so find ones that have decent financials, and find catalyzing events (earnings, PRs, mergers etc). I have a 30ish on a watchlist in ToS with alerts for news, volume increases and such. Then I have elevated watchlists once alarm bells start ringing. Then I chart the shit out of them looking at the RSI, MACD, and Bollinger lines.
I also don't chase anything over a dollar, unless I'm playing PURE profit and even then I lock profits all the way up to very end (like how I cashed in on UAVS from .87 with exits at 1.10, 1.33, 2, 4, and 5). Even then I'II catch stinkers, get in and out at the wrong times, or end up in stalled stocks. It's all gambling in the end.