I'm posting this in case anyone else might find it useful. I'm a newbie myself, and developed this Excel sheet to help me figure out how much I need a particular stock to move in order to make a certain amount of profit (after commissions). Experienced traders would probably not find this very useful, but for newbies like me it might come in handy.
THIS ISN'T FOR EVERYONE. I tend to trade in very specific increments (i.e. $500 or $1000 per trade), and my initial goal is generally to make a set amount of profit (i.e $100 or $200) on each trade. I enter into the Excel sheet (1) the buy price of a stock, (2) my broker's commission fees and (3) my initial profit goals, and it returns (a) how many shares I need to buy and (b) how far I need the stock to move in order to meet any of four different profit goals.
Its all basic arithmetic, but when evaluating a new purchase it saves me precious minutes of calculation (which can make all the difference!)
You can get the Excel sheet at http://spryder.casebook.org/pennystocks.xls