You can read the original version online:
http://ymlp254.net/zDsJPL ——————————————————————————– October 14, 2012 Week In Review…
Week In Review For October 8 to October 12, 2012 Canadian Companies mentioned include:
* Lynden Energy Corp. (TSX-Venture:LVL) * GoldQuest Mining Corp. (TSX-Venture:GQC) * Rye Patch Gold Corp. (TSX-Venture:RPM) * Bold Ventures Inc. (TSX-Venture:BOL) * Zecotek Photonics Inc. (TSX-Venture:ZMS) U.S. Companies mentioned include:
* Energy Edge Technologies Corp. (OBCBB:EEDG) * El Capitan Precious Metals Inc. (OTCBB:ECPN) * Digerati Technologies Inc. (OTCBB:DTGI) * Fuse Science Inc. (OTCBB:DROP) * Omega Commercial Finance Corp. (OTCQB:OCFN) This week on AllPennyStocks.com:
* Article Published, October 9, 2012: Grant for Magnolia Solar Could Take New Technology Out of This World (http://www.allpennystocks.com/aps_us/special-reports/302/grant-for-magnolia-solar-could-take-new-technology-out-of-this-world.htm) (U.S. Company) * Article Published, October 12, 2012: Anaconda Mining Continues to Post Record Gold Production at Pine Cove Mine (http://www.allpennystocks.com/aps_ca/special-reports/302/anaconda-mining-continues-to-post-record-gold-production-at-pine-cove-mine.htm) (CDN Company) Video charts for the week:
* October 7th Technical Video Chart For EEDG. The Energy Edge Technologies ended last week with three straight green closes and increasing volume. Support is established at the 200 day moving average as the chart looks to break the 50 dma and potential run at old highs. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/iZSRVhK15lE ).
* October 10th Technical Video Chart For ZMS:CA. The Zecotek Photonics chart is in a prime position for a climb. The stock price is just above historic support levels and the MACD is showing a strong trend back towards zero while volume-based indicators are showing buying pressure outweighing selling pressure. The first resistance is 15 percent away and could signal a major reversal in the chart if broken. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/NWW3FzXaAgs ).
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WEEKLY UPDATE -STOCKS SAG ON LACK OF INSPIRATION Stocks in North America were listless this past week, which was shortened in Canadian trading due to the Thanksgiving holiday on Monday. The Dow Jones Industrial Average barely eked gains on Friday to salvage a week that would have produced five red closes, although it still was the worst weekly performance in four months for U.S.
equities. For the week, the Dow lost more than 2%, the biggest weekly decline since June 1. Analysts can call it what they want with most saying that European and China growth concerns have caused a stalling in the recent multi-month run, but the reality is that investors are behaving like spoiled children looking for new toys to constantly keep them entertained after becoming bored with the new playthings from the week prior.
Of course, the recent “toys” have been monetary easing programs across the globe to spur economies. Now that the U.S. is running its latest batch of open-ended bond-buying in conjunction with European Central Banks printing money with no targeted end date, Japanese bankers moving to stir liquidity and China taking steps to spark its fleeting growth pattern; investors are once again saying “Now, what do you have to give us” Ironically, economic data this past week was relatively upbeat, but ignored. Even optimistic data about the labor market in the United States is muddled with controversy over the integrity of the rapidly-dropping unemployment statistics given the importance in the presidential election that is only a matter of weeks away now.
If substance is going to take the opportunity to be more valuable than speculation, next week is the chance for that to happen. From an earnings report view, more than 40 percent of the Dow components and 79 of the S&P 500 companies will be reporting. Equally important with the earnings reports will be outlooks by majors as nothing has yet been done with the upcoming fiscal cliff in the United States, which could result in some downbeat forecasts. Also, a wide array of economic data will be coming in droves from both Canada and the States with manufacturing updates, retail sales and housing information getting mixed with a smattering of info on employment. This “Bankers Gone Wild” mentality will not continue to drive markets. It`s going to take some data showing stability from the majors – North America, China and Europe – and earnings reports to buoy markets going forward.
Even with global economic turmoil and a week that cost indices more than 2 percent this past week, the Dow is still only about 6 percent from its all-time closing high of 14,164.53 in October 2007; the S&P 500 is less than 10 percent away from its record closing high of 1,565.15 five years ago; and the Nasdaq is trading near levels from November 2000, although it is still 64 percent from its 5,000 point highs in February 2000 during the peak of the tech craze.
Canadian equities aren`t exactly in the same boat as the Dow and S&P 500. The TSX Composite is still about 23 percent from all-time highs in early 2008 and the smaller Venture exchange is more than 150 percent from its highs in the second quarter of 2007 and down about 50 percent from recent peaks in February 2011.
While each week, there is typically plenty of happenings to review, the second week of October was relatively melancholy from a news standpoint. Europe again came into the spotlight with little economic data coming from North America (and, as mentioned, largely ignored).
Taking a moment to look back at this past week, Spain was certainly weighed heavily on the markets again. The debt-laden country witnessed Standard & Poor`s match Moody`s rating by slashing their sovereign rating of Spain two notches from BBB+ to BBB-, with a negative outlook. Spain is now looking at possibly being downgraded to “junk” status as it continues to refuse to seek a full-blown bailout from the ECB and International Monetary Fund. A bailout from the ECB can only be initiated by Spain, which it has fought doing because it must comply with strict conditions if it asks for funds.
It is the belief of most economists that Spain has basically run-out of wiggle room to try and dig themselves of their financial hole and will be requesting the bailout in the near term, whether they like the idea or not.
The downside to Spain`s debt being reduced to junk status could weigh heavily on the ECB who has said that their plan entails buying as much debt as necessary to save euro zone countries. Spain finally running to a bailout will leave the ECB buying Spain`s junk debt and that harkens the question as to how much bad debt it can hold itself It also should leave companies that rely on business in Spain to take a close look at minimizing risks and looking elsewhere until Spain gets cleaned-up financially.
Speaking of the International Monetary Fund, on Monday it projected world economic growth of 3.3 percent for 2012, down from its original projected of 3.5% and lowered its outlook for 2013 from 3.9% to 3.6% while also downgrading growth prospects for China. The IMF added that Italy, Spain and others will likely miss budget deficit targets this year, adding to pessimism for the euro zone condition.
Greece made it back into the news as its international creditors have given it ten days to fulfill its reform pledges or it will potentially not get its next tranche of 31.5 billion euros as part of its bailout package.
The first and only vice-presidential debate took place with incumbent Joe Biden coming-out firing against Mitt Romney`s running mate Paul Ryan. While Biden`s spunk was appreciated by most and seen as a far better performance than President Barrack Obama`s lackluster debate with Romney, Ryan held his own to deflect the Democrats from gaining any real momentum as a result, according to most analysts. In general, the Romney/Ryan team is viewed as being more beneficial to Wall Street.
In a bit of a shocker (that probably only had the best of intentions), the Norwegian Nobel Committee awarded the Peace Prize for 2012 to the European Union. Citing reasons for the decision such as war between Germany and France now “unthinkable,” the fall of the Berlin Wall, democracy in Greece, Spain and Portugal and other factors in their decision, the decision was not without some mockery as to the timing of the award given the chaos on the Union at this point.
As covered at the opening of this weekly review, look for earnings and economic data to take a front seat as the main indexes look to find some footing after some tough weeks as the spry nature of the markets based upon quantitative easing has now faded.
The Canadian dollar and the U.S. dollar traded in their tightest range in about one month as traders consider what direction global economies and monetary easing policies are headed. The Canadian dollar has been strong as quantitative easing programs in the States have pressured the greenback, but concerns about China`s slowing growth dampening demand for commodities like gold and oil which are now squeezing the loonie to a certain extent and creating a stalemate between the two currencies. Across the week, the Canadian dollar eased by 0.11% on the US dollar, so next week will begin with one Canadian dollar buying US$1.02075.
* Gold futures faded after hitting resistance near $1,800 per ounce the prior week as few catalysts were provided to justify a surge to multi-month highs. It appears that gold has come upon a “wait and see” period with volumes diminishing this past week after strong inflows in weeks prior with a weakening US dollar. Analysts are speculating that for the time being gold is going to remain rangebound between $1,800 and $1,760 per ounce until some impetus arrives to drive bullion prices one direction or the other. Currently, a main concern is that better-than-expected economic data and jobs reports could mean that the U.S. Federal Reserve will curb stimulus packages, which could lead to a devaluing in bullion. December contracts were the most actively traded this past week; slipping 1.18%, or $21.10 per ounce, to close the week at $1,759.70 on the Comex division of the New York Mercantile Exchange.
* Silver futures tracked lower this past week as investors shelve a few gains from a run-up since August as macroeconomic concerns are still weighing on silver. As a precious metal and hedge against inflation, silver follows gold closely, which has helped in its recent climb, but as an industrial metal with uses across several sectors from solar to electronics, growth concerns from China and the euro zone are keeping a thumb on prices for the white metal for the time being. Silver for December delivery was the most actively traded; dropping 2.61%, or $0.903, to $33.669 per ounce.
* Copper prices slid lower last week and, according to analysts surveyed by Bloomberg, the trend will continue next week as mounting concerns from Europe to China continue to grow about demand.
According to the International Copper Study Group, copper supply will outpace demand by 458,000 metric tons in 2013, marking the first time their will be excess of the red metal in four years. Technically speaking, traders are now watching the $3.68 support level that copper is nearly sitting on because a break could signal a move back down toward $3.55. December contracts were the most actively traded on New York`s COMEX exchange during the week; demurring by 7.5 cents, or 1.99%, to $3.703 per pound.
* Oil prices finally found some strength this past week after falling to two-month lows the week prior. Good U.S. economic data provided some optimism for improvement in the world`s biggest economy, lifting hopes for increased demand. Much like prior months, however, the black gold still remains in a battle with supply and demand and geopolitical concerns from the Middle East. Softening sentiment, the International Energy Agency cut its 2012 estimate of how much oil demand would grow, with the outlook lowered by 100,000 barrels a day to 700,000 barrels a day. For 2013, the IEA affirmed its view of global oil demand growth at 800,000 barrels a day. November contracts for West Texas Intermediate crude were the most actively traded and closed the week ahead for the first time in three weeks with a gain of $1.98, or 2.20%, at $91.86 per barrel.
Equity Market Snapshot:
(All percentages on a weekly basis unless otherwise noted) * Major gold miners lost traction this past week. Agnico-Eagle Mines (TSX:AEM, -3.59%) finally stopped its eleven-week winning streak while Kinross Gold (TSX:K, -5.67%), Goldcorp (TSX:G, -5.64%), Newmont Mining (TSX:NMC, -1.77%), Barrick Gold (TSX:ABX, -6.86%) and Yamana Gold (TSX:YRI, -1.40%) took-on losses.
* NovaGold Resources Inc. (TSX:NG, -3.52%) reported a third-quarter net loss of $21.5 million, or $0.08 per share, which was less than half of the $52.1 million, or 22 cents per share, that it lost in the year prior quarter.
* Energy stocks primarily took on their downward descent again with Canadian Natural Resources (NYSE:CNQ, +0.00%) managing to end the week flat while Imperial Oil (NYSE:IMO, -1.15%), Suncor Energy (NYSE:SU, -2.11%), Exxon Mobil (NYSE:XOM, -1.64%), Cenovus Energy (NYSE:CVE, -3.10%) and Talisman Energy (NYSE:TLM, -1.14%) all docking some points.
* Chevron (NYSE:CVX, -4.62%) shares sank after the oil company said its third-quarter earnings will be “substantially lower” than second quarter results.
* Nexen (TSX:NXY, +1.32%) landed on the green side of things for the third straight week as shares climbed with news the federal government extended its review period for its proposed $15.1-billion takeover by China`s state-owned offshore oil company. The 45-day review under the Investment Canada Act was slated to end Friday, but is being extended by 30 days.
* The biggest of banks in the US struggled again after a productive week prior. Goldman Sachs Group (NYSE:GS, +0.75%) was a rare winner with Bank of America (NYSE:BAC, -2.15%), Citigroup (NYSE:C, -0.06%), JPMorgan Chase (NYSE:JPM, -0.22%), UBS AG (NYSE:UBS, -1.48%) and Wells Fargo & Co. (NYSE:WFC, -4.44%) shedding points. XLF (NYSE:XLF, -1.56%), the financials select sector SPDR that tracks the financial stocks in the S&P 500, closed red for the third time in four weeks.
* Shares of Wells Fargo were hit hard after a New York-based U.S.
attorney filed a civil lawsuit against the bank for hundreds of millions of dollars in damages for mortgage fraud. Adding more downward pressure, the big bank said sales in the third quarter fell short of predictions, although profits were basically in line with expectations.
* JP Morgan, the largest bank in the U.S. by assets, started earnings reports for big banks with a third quarter profit of $5.71 billion, of $1.40 per share, against $4.26 billion, or $1.02 per share, in the year earlier quarter. Analysts, who are generally expected better earnings reports from banks this year compared to a lackluster performance in 2011, were calling for a profit of $1.24 per share.
* The biggest banks in Canada struggled right along with banks south of the border. National Bank of Canada (TSX:NA, -0.72%), Royal Bank of Canada (TSX:RY, -1.01%), Bank of Montreal (TSX:BMO, -1.03%), Toronto-Dominion Bank (TSX:TD, -1.26%), Canadian Imperial Bank of Commerce (TSX:CM, -0.94%) and The Bank of Nova Scotia (TSX:BNS, -1.55%) all closed the week lower.
* In typical fashion, Alcoa (NYSE:AA, -4.40%), generally regarded as a bellwether of global conditions because it sells its products across so many industries, kicked-off earnings season. The aluminum producer posted a net loss of $143 million in the third quarter, primarily because of one-time charges, as adjusted earnings and revenue topped estimates. On the flip side, Alcoa provided a poor outlook, citing slowing demand from China, which sparked concern about what the earnings season holds in store for other Dow components.
* Big drugmaker Eli Lilly & Co. (NYSE:LLY, +4.60%) gained ground on news that its experimental drug solanexumab showed signs of slowing memory loss in mild Alzheimer`s patients considerably. Results combined from two studies showed a 32 percent decrease in memory loss, offering hope to patients of the debilitating disease who currently have no real options for treatment.
* Shares of Longueuil, Quebec-based Jean Coutu Group (TSX:PJC.A, +0.48%) rose as the company reported quarterly net profit was $51.2 million, or 23 cents per share, compared with $66.4 million or 20 cents per share in the comparable year-earlier period. Revenue for its fiscal 2013 second quarter rose to $658.7 million from $635.2 million in the same fiscal 2012 period. The rise was mostly attributable to its generic drug making division, Pro Doc Ltd., posting a 14% rise in sales during the quarter to $38.3 million and a income before amortization leap of 25.2% to $15.4 million.
* Aeterna Zentaris (NASDAQ:AEZS, -21.36%) got lumped-up for the third straight week as the drug maker said its offering 6.6 million stock-warrant units priced at $2.50 a unit, a 20% discount to Thursday`s closing price. Shares wrapped the week at $2.43 with the announcement.
* Watson Pharmaceuticals Inc. (NYSE:WPI, -1.35%) said after Friday`s closing bell that it received approval from the U.S. Food and Drug Administration for the generic version of Sanofi`s (NYSE:SNY, -3.43%) Avapro, a drug used for high blood pressure and for kidney disease caused by diabetes. Watson intends to start shipping its drug immediately as competition to Sanofi`s drug that did about $390 million in sales during the twelve months to August 31. Watson also reported that it received FDA approval for the generic equivalent of Allergan Inc.`s (NYSE:AGN, -1.46%) Sanctura XR, a drug from treatment of an overactive bladder that did $67 million in sales for Allergan during the 12 months ended July 31.
* Also in the drug store, Lexicon Pharmaceuticals (NASDAQ:LXRX, +3.46%) saw shares rally from lows upon reports of positive results from a clinical study for its potential drug telotristat, which treats a condition caused by tumors in the gastrointestinal tract.
* Shares of Research In Motion (TSX:RIM, -5.09%) skidded after two up weeks as research analysts at Jefferies Group reaffirmed its underperform rating for the BlackBerry maker.
* Netflix (NASDAQ:NFLX, -3.35%) shares had a strong prior week on an upgrade from Morgan Stanley, but gave part of the gains back this past week on a downgrade from Bank of America.
* Shares of Sprint (NYSE:S, +10.19%) were a strong S&P 500 gainer amid news that Japan`s Softbook, who`s mobile division has about 30 million subscribers, is nearing a deal to buy a controlling stake in the third largest U.S. carrier for about $12.8 billion. While the deal was beneficial to Sprint stock, its network partner Clearwire (NASDAQ:CLWR, +71.85%) soared on the report that it may be taken-over as part of the transaction.
* On the semiconductor front, shares of Advanced Micro Devices (NYSE:AMD, -14.91%) got tarnished upon lowering its revenue forecast for the third quarter. Rival Intel Corp. (NASDAQ:INTC, -5.29%) received a ratings cut from Bernstein Research to underperform from market perform, assisting the stock to make a new 52-week low. Shares of both chipmakers have been under heavy pressure on soft PC sales globally as mobile devices continue to swipe market share.
* Not everything is bad in China…Yum Brands (NYSE:YUM, +5.76%), an operator of Kentucky Fried Chicken, Taco Bell and Pizza Hut restaurants, attributed part of its earnings increases that beat Wall Street expectations to steady growth at its Chinese locations.
* Water technology firm Ecolab (NYSE:ECL, +1.92) announced plans to boost its offerings in the energy service sector with the acquisition of privately-held Champion Technologies in a deal valued at $2.2 billion. Per the proposed deal, Ecolab will pay $1.7 billion in cash and issue about 8 million shares of its common stock to cover the balance.
* Boston Scientific Corp. (NYSE:BSX, -3.30%) said that it is willing to pay up to $265 million to acquire privately-held Rhythmia Medical Inc., a maker of mapping and navigation systems used in heart surgeries as it looks to capitalize on the growing electrophysiological markets.
* In a smaller M&A deal, Bauer Performance Sports Ltd. (TSX:BAU, +1.57%) said that is buying team uniform maker Inaria International for $7 million as it seeks to expand its business to include uniforms.
* Canadian Pacific Railway (TSX:CP, +0.02%) continued its game of executive musical chairs since its intense proxy battle earlier this year with the announcement that Chief Financial Officer Kathryn McQuade will retire on Nov. 1, marking the fourth senior executive to leave Canada`s second-largest railroad in 2012.
* Shares of J.B. Hunt Transport (NASDAQ:JBHT, +5.74%) climbed after the trucking company reported that third quarter earnings rose 14 percent to $78.2 million, or 65 cents a share; up from $68.7 million, or 57 cents per share in the year prior period.
* Facebook (NASDAQ:FB, -6.66%) took another bruising this past week as brokers continue to have concerns about the social media giant to effect its mobile ad business. Credit Suisse kept its rating at neutral and cut its price target from $34 to $24 per share.
* In IPO news, shares of Workday (NYSE:WDAY) sizzled upward from a $28 per share opening price to close Friday trading at $48.29, for a rise of nearly 80% as investors continue to show their love for cloud-based web applications. The $28 opening price was above the original proposed price of $21 – $24 per share that was announced early in the week.
* Shares of Shutterstock (NYSE:SSTK) weren`t too shabby either, also pricing its IPO higher than originally expected and shares still ran from $17 each to close the week at $22 a share.
Weekly Indices Results:
The S&P TSX Composite Index fell for the third time in four weeks; erasing 216.95 points, or 1.75%, to 12,202.04. The TSX Venture Exchange charged lower also; subtracting 52.17 points, or 3.88%, to 1,292.81.
In the States, the Dow Jones Industrial Average gave back any gains from the week prior; dumping 281.30 points, or 2.07%, to 13,328.85.
The much-broader S&P 500 tagged along; shedding by 32.34 points, or 2.21%, to close at 1,428.59. The tech-rich NASDAQ Composite completed the week much lower than it started as well; falling by 92.08 points, or 2.94%, to 3,044.11 on the week.
Canadian Economic Data:
* Canada Mortgage and Housing Corp said that housing starts slipped 2.3% in September to an annual rate of 220,215 units from a downwardly revised 225,328 unit reading in August, primarily related to a drop in urban multiple starts in Ontario. Analysts were calling for a drop to 205,000. During September, urban single starts decreased by 1.4 percent from August, while multiple starts dropped 3.9 percent.
* Also on the housing front, Statistics Canada said that the New Housing Price Index rose 0.2% in August, following a 0.1% increase in July. The combined metropolitan regions of Toronto and Oshawa, as well as Calgary, were the top contributors to the advance. The largest monthly price advance in August occurred in the metropolitan region of Québec (+0.6%), followed by London, which recorded a 0.5% increase, mainly because of higher material and labor costs. Prices were unchanged in 9 of the 21 metropolitan regions surveyed in August.
Monthly prices declined 0.4% in Victoria as a result of lower land prices. On a year-over-year basis, the NHPI rose 2.4% in the 12 months to August, following a 2.3% increase in July.
* Statistics Canada reported that merchandise imports fell 3.1% and exports edged down 0.1% in August. As a result, Canada’s trade deficit with the world narrowed from $2.5 billion in July to $1.3 billion in August. Imports fell to $38.8 billion as declines occurred in every sector, except energy products. Volumes, which fell in every sector, were down 2.2% in August. Imports from the United States fell 4.3% to $24.2 billion, while exports rose 1.4% to $27.6 billion.
Consequently, Canada’s trade surplus with the United States increased from $2.0 billion in July to $3.5 billion in August.
Next week will include a flurry of economic data, including CREAstats/MLS sales on Monday: the Monthly Survey of Manufacturing and International Transactions in Securities on Tuesday; Wholesale Trade and Employment Insurance updates on Thursday; and the Consumer Price Index and Leading Indicators on Friday.
U.S. Economic Data:
* A slowing global economy showed less demand for U.S. goods as exports dropped to the lowest level since February. The Commerce Department reported that the U.S. trade deficit expanded to $44.2 billion in August, up from $42.5 billion in July. Exports dropped to $181.3 billion from $183.2 billion while imports decreased from $225.7 billion in July to $225.5 billion in August. Pacing the import drop were declines in consumer goods; automotive vehicles, parts and engines; and capital goods. Increases in imports were led by industrial supplies and materials.
* The Labor Department released data showing that applications for first time jobless benefits dropped 30,000 to 339,000 during the week ended October 6, representing the lowest level since February 2008.
The level crushed economist predictions of 370,000 claims. Once again, the latest reading on the jobs market was riddled with controversy as the huge drop in claims was reportedly the result of one state: California. California denied any allegations of failing to report all of its claims, but it is important to note that the weekly report is just an estimate and revisions will come with final totals in upcoming reports.
* Producer prices climbed in September for the second month as gasoline prices spiked, according to the Labor Department. Producer prices rose 1.1% during the month after an increase of 1.7% in August.
Economists were calling for a 1.0% rise. A 9.8 percent jump in gasoline prices accounted for the vast majority of the rise during September. The so-called Core Wholesale Price Index, which strips-out volatile food and energy prices, was flat for September; ahead of economist calls for a 0.2% increase.
* American consumers are feeling good about the future according to the University of Michigan/Thomson Reuters sentiment gauge which rose to pre-recession highs of 83.1 in a preliminary October reading from a final September reading of 78.3. It was the highest level since September 2007.
Next week will bring a plethora of data in the States as well, with Retail Sales and the Empire State Manufacturing Survey on Monday; Consumer Price Index and Industrial Production on Tuesday; Housing Starts on Wednesday; Jobless Claims and the Philadelphia Fed Survey on Thursday; and Existing Home Sales on Friday.
Penny Stocks to Watch & Company Spotlight Results:
Among the stocks we watched this week, oil and gas company Lynden Energy Corp. (TSX-Venture:LVL) peaked as high as 74 cents on Tuesday, but closed the week mildly down by 2 cents at 70 cents, for a loss of 2.78%. The other Canadian stock on our radar, GoldQuest Mining Corp.
(TSX-Venture:GQC) was holding basically steady before massive sell-off on news Thursday sent the stock plummeting. Even with a modest recovery on Friday, shares still closed down by 40 cents, or 28.37%, at $1.01 with an intraweek high of $1.46.
In the States, diversified services company Energy Edge Technologies Corp. (OTCBB:EEDG) rose immediately on Monday to its intraweek high of $0.075, but then stumbled lower on Tuesday; a fall for which it could not recover and it ended up closing down by 1.3 cents, or 19.12%, at 5.5 cents. The other U.S. stock on our watchlist, developmental miner El Capitan Precious Metals Inc. (OTCBB:ECPN) also languished with the broad markets; closing down by 7.4 cents, or 20.0%, at 29.6 cents with an intraweek high of $0.38.
If you`d invested in all four stocks and held them to the end, you`d have seen an average loss of 17.57%. This week was a spanking, no doubt about it. But just week`s ago, we had really strong weekly gains, so you never know in the penny stock world. If you`d bought all four at the beginning of the week and sold each at its peak, you`d still have realized gains of 4.83%.
Next week, we focus on Rye Patch Gold Corp. (TSX-Venture:RPM) and Bold Ventures Inc. (TSX-Venture:BOL). In the States, look for big things from Digerati Technologies Inc. (OTCBB:DTGI) and Fuse Science Inc.
Our latest Canadian spotlight, Zecotek Photonics Inc.
(TSX-Venture:ZMS) climbed ahead by a penny to 35.5 cents in trading this week. If you have not read our corporate profile on Zecotek, we strongly encourage that you take the time to learn more about why we feel this company is extremely undervalued with its paltry $24 million market cap. As we detail, the company is in the midst of a lawsuit that has already seen a similar type of victory for a major and we feel that there is a very strong likelihood that a multi-hundred-million-dollar settlement could be coming the way of Zecotek as well. Take a moment and learn more about Zecotek now by clicking on the Company`s full profile located here:
Lastly, a previous spotlighted Company, Omega Commercial Finance Corp.
(OTCQB: OCFN) announced earlier this week the signing of a Letter of Intent for the acquisition of a thriving, privately held national financial services company and RIA with $20MM in AUM, top-line revenue of $10 million, with a 2012 projected net profit of approximately $1.5 million for a total purchase price of $20 million through a share exchange agreement. Collectively, they have over 100 affiliated offices nationwide, more than 200 agents, approximately 40 RIAs, and written over a billion dollars in premiums. Operationally under OCFN`s umbrella of companies, this acquisition will add a producing 100% wholly owned subsidiary with the current management team and current CEO in place. To read more about that profile, click here:
We also want to encourage our members to keep their eyes on their inboxes again this week as we are starting to roll with finding great opportunities on this dip in the markets that we will be sharing with members throughout the week. This company already has everyone chatting about it worldwide, we`ll explain soon… So pay attention, as we`re a ratcheting-up our due diligence now that summer is behind us.
————————- Forward Looking Statements This report includes forward-looking statements that reflect the mentioned companies current expectations about its future results, performance, prospects and opportunities. the mentioned companies has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “we are confident” or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause the mentioned companies actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company`s growth expectations and ongoing funding requirements, and specifically, the Company`s growth prospects with scalable customers, and those outlined above. Other risks include the Company`s limited operating history, the Company`s history of operating losses, consumers` acceptance, the Company`s use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company`s securities, the possible volatility of the Company`s stock price, the concentration of ownership, and the potential fluctuation in the Company`s operating results.
Disclaimer AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable.
For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company`s expectations and estimates.
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Before making a purchase or sale of any securities featured on our web site or mentioned in our reports, we strongly encourage and recommend consultation with a registered securities representative. This is not to be construed as a solicitation or recommendation to buy or sell securities. As with any stock, companies we select to profile involve a degree of investment risk and volatility. Particularly Small-Caps and OTC-BB stocks. All investors are cautioned that they may lose all or a portion of their investment if they decide to make a purchase in any of our profiled companies. Past performance of our profiled stocks is not indicative of future results. The accuracy or completeness of the information on our web site or within our reports is only as reliable as the sources they were obtained from. The profile and opinions expressed herein are expressed as of the date the profile is posted on site and are subject to change without notice. No investor should assume that reliance on the views; opinions or recommendations contained herein will produce profitable results. AllPennyStocks.com may hold positions in securities mentioned herein, and may make purchases or sales in such securities featured on our web site or within our reports. In order to be in full compliance with the Securities Act of 1933, Section 17(b), AllPennyStocks.com will disclose in it`s disclaimer, what, if any compensation was received for our efforts in researching, presenting and disseminating this information to our subscriber database and featuring the report on the AllPennyStocks.com web site. AllPennyStocks.com has been compensated ten thousand dollars by a third-party, ViralNetwork Inc. for its efforts in presenting the V.ZMS profile on its web site and distributing it to its database of subscribers as well as other services. AllPennyStocks.com has been compensated six thousand dollars and two thousand five hundred dollars worth of barter services by a third-party, SmallCapVoice.com Inc. for its efforts in presenting the OCFN profile on its web site and distributing it to its database of subscribers as well as other services. AllPennyStocks.com may decide to purchase or sell shares on a voluntary basis in the open market before, during or after the profiling period of this report.
Information presented on our web site and within our reports contain “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be “forward looking statements.” Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as “expects”, “will,” “anticipates,” “estimates, “believes,” or that by statements indicating certain actions “may,” “could,” or “might” occur.
THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SMALL CAP SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK.
We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission (SEC) at: http://www.sec.gov ( http://www.sec.gov ) and/or the National Association of Securities Dealers (NASD) at:
http://www.nasd.com ( http://www.nasd.com ). Readers can review all public filings by companies at the SEC`s EDGAR page. The NASD has published information on how to invest carefully at its web site.
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