Friday, August 28, 2009

SpongeTech Breaks Twenty Cent Barrier

SpongeTech is closing our a phenomenal week as the share price crosses the twenty cent barrier. As penny stocks go OTCBB SPNG as performed very well considering its share structure. I fear the stock could come crashing down at any moment.
If any of my friends owned this penny stock I would strongly encourage them to consider taking some off the table. Only time will tell how well SPNG will perform and if actual sales and revenue increase significantly the market could support the current share price. However, the current book value is .016 cents and a PE of 20 is to rich for me.

Thursday, August 27, 2009

BBI, Blockbuster Busts Over $1

In a day when most stocks were spiraling down penny stock BBI Blockbuster busted the $1 barrier. The stock has been under pressure since missing its quarterly estimates. After the big earnings miss I sent an email out to my closest friends alerting them to the significant role of BBI in the DVD by mail market.
Many of my friends generally do not care about penny stocks but Blockbuster is an outlier. BBI is one of the only large movie rental operations who will be able to convert to and compete with online DVD rental giant (NFLX) Netflix.
Today BBI jumped 12% and traded in a range of $.90 to $1.09. I believe BBI has the potential to trade at or above 5$ early next year and above $10 in 2010. Of course this just my opinion and I am not a financial adviser.

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Tuesday, August 11, 2009

MTLQQ Breaks 1$

Just a few weeks ago investors were warned by the SEC that Motors Liquidation Corporation would eventually become worthless. However, that is not coming to fruition, in-fact, the stock has continued to appreciate! What do these buyers of MTLQQ stock know that we do not know, or are they fools?
I have to believe they are fools buying fools gold. I believe the stock has little or no value at all! Buying MTLQQ at $1 IMHO is like throwing money into a fire. Eventually the stock will become worthless!
Attention buyers of MTLQQ, what the heck are you doing. Please stop throwing your money into this worthless penny stock. If you get this message please leave a comment stating why you are a buyer of MTLQQ!

Monday, August 10, 2009

Fannie Mae and Freddie Mac Center Stage

We thought it would take generations for FRE and FNM to claw their ways out from penny stock status. However, to our surprise both penny stocks proved us wrong. Today both FNM and FRE crossed the $1 mark. In-fact, FRE moved well over $1.
I do not believe there is any significant evidence that the market will continue to support these inflated prices. The two lending agencies are laden with debt and FNM recently asked for an additional 10 billion to cover its losses. There is certainly some over zealous buyers in the market and they will probably regret jumping on the hysterical buying trend.
Taking into consideration the recent trends in the market and the significant improvement of banks bottom lines. We feel it is time for the Federal Reserve to stop giving our money away!

Thursday, August 06, 2009

Google, Yahoo, and Bing Whats Up?

Much of what I write on this blog about penny stocks. The reason I write about them is because Google, Yahoo, and Bing are supposed to give a little love when it comes to ranking in their search engines. However, the trend has been south for It seems like the more we post about penny stocks the harsher we are treated in the SERPS. What's up with that?

I was doing a little research on an investors social networking website. Currently the site is under development. Any site worth its weight is always under some kind of development, right?
I found some very interesting, dare I use the term, penny stocks, which I think you will be interested in. Apparently most of you are not interested in my ranting about political views, LOL.
First in line PUDZ, formerly PUDC Puda Coal, a China based coal mining operation. The three month chart for the former PUDC looked excellent, and the reversed chart looks pretty good as well. I do not know what the companies plans are as far as financing, but if they are reasonable the stock could perform well.
The second company I want to share with you is ETLY, the stock chart for this one has exploded over the last few weeks. I'm not as sure about the future of this one, but currently the chart is looking strong.
The third company is a revisit, I mentioned it on the penny stocks blog and will address it again here. The company is a popular one, SPNG Spongetech, a company selling various cleaning sponges. The company appears to have a lot going for it. However, I have to warn you, the structure of the company is a bit out of line! I would not be all that excited about the company unless they retire more like 500,000,000 of the outstanding shares. It is very unpopular to go against a trend in a penny stock but I have to. Here is a look at what we know about the structure.

Spongetech Delivery Share Structure

Average Volume (3 month)3:96,415,300
Average Volume (10 day)3:71,982,500
Shares Outstanding5:722.87M

The company I want you to take a look at is an oil stock. The Ticker symbol is MPET Magellen Patroleum Corp. I have been a fan of the company for several years and the stock chart is pretty compelling. The stock has been holding just under 1$ but recently has moved above the 1$ mark and could continue to move.

I hope you enjoy these stocks and do your Due Diligence!
A few more to look at I like.

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