Where Art Thou Penny Stock Promoters?

Source: http://pennystocker.com/4-penny-stocks-to-watch/
Posted on Thursday, April 30th, 2009 | In Market Commentary, Small & Micro Cap

Contributed by: Justin Bostwick (http://pennystocker.com) -

Borrrrrriiiiingg out there today: Only 4 penny stocks to watch — What happened to the penny stock promoters? You know, these guys. Not much going on right now with most attention being paid to the swine flu penny stocks, but there’s nothing technical about the charts on those plays that I really like…yet. Setting up to be a pretty boring Thursday in penny stock land with only a few possible trades, if and only if they cross the mentioned price points. None on the watch list are buys, just possible shorts.

ABR is a nice multi-day penny stock spike –possibly due to accumulation before earnings are reported on May 7th. Can’t really see how earnings would be any good considering its a Financial/Real Estate Trust. This company’s financial statements make me cringe when I look at them..loss of 81 million, Cash of 800k, and Debt of 2 Billion. I’m looking to short this run pretty soon, whether that’s today or in the next week remains to be seen. It’s still got some room to run and is making a nice little trading range between 2.28 and 2.55. Lets see what it does this morning–a break above 2.55 would signal a possible continuation with its spike.

DTG is making a very nice run here that very well could come to an end today when you take into account their credit exposure to Chrysler, who apparently is close to Bankruptcy. Most of Thrifty’s rental cars are from Chrysler and if reports are true that lenders have broken off talks with Chrysler then this penny stock could very well fall from it’s recent run up. Here’s the deal: 5 min chart is forming a double top, and a break of 3.20 could nail you some simple short selling profits.

MNTG I’m not feelin’ this recent run of 100%+ in two days. No news out plus it’s coming up on the 200 day moving average resistance at 2.31. All the variables point to a downward move. Will we get that today? A good short entry would be on a break of 2.00 on solid volume. Keep in mind this is connected to the casinos, so it may move with the sector.

TRIB is a swine flu penny stock that soared yesterday 60% while all the others flopped. This surge can be contributed to their very good earnings report more so the actual swine flu itself. Right now, considering the earnings, I probably won’t even think about shorting this stock. If it gets way over-extended then my sentiment may change.

Last 5 posts by Justin Bostwick

SEC Charges 8 - May 23rd, 2009
6 More Penny Stocks Picks: “Buy The Hype, Sell The News” - May 22nd, 2009
Penny Stocks To Watch For Friday The 15th - May 15th, 2009
Six Penny Stocks To Watch That Could Make You Money - May 12th, 2009
The Framework Of An Afternoon Fade And Why It’s So Essential To Short Selling Penny Stocks - May 7th, 2009

About Justin Bostwick (http://pennystocker.com)
My name is Justin Bostwick and I am an 18 year old college student at the University of Tampa in Florida. Pennystocker.com was launched on March 25th, 2009 with $7,000 in capital with a goal to turn that into $XX,XXX over a period of time buying and shorting penny stocks. Watch as you and I both learn what it takes to profit down in penny stock land aka the “gutter”

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Posts about Real Estate Market Reports as of April 30, 2009 | Real Estate Market Reports Says:
April 30th, 2009 at 1:12 pm
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Where Art Thou Penny Stock Promoters? < It’s all about the trends Says:
April 30th, 2009 at 9:44 pm
[...] if and only if they cross the mentioned price points. None on the watch list are buys, just poss click for more var gaJsHost = ((“https:” == document.location.protocol) ? “https://ssl.” : [...]