U.S. Stocks Stumble As They Near All-Time Highs
allpennystocks Newsletter
You can read the original version online:
http://ymlp308.net/zdDYji ——————————————————————————– February 17, 2013 Week In Review…
Week In Review For February 11, 2013 to February 15, 2013 Canadian Technical Penny Stocks To Watch This Week:
* Capstone Mining Corp. (TSX:CS) U.S. Technical Penny Stocks To Watch This Week:
* American Micro Devices Inc. (NYSE:AMD) * Pacific Biosciences Inc. (NASDAQ:PACB) * University General Health Systems Inc. (OTCBB:UGHS) * E-House (China) Holdings Ltd. (NYSE:EJ) Spotlight Companies Mentioned This Week:
* Terra Tech Corp. (OTCBB:TRTC) * Crown Marketing Pharmaceuticals (OTCQB:CWNM) This week on AllPennyStocks.com:
* Article Published, February 12, 2013: DIAGNOS and Great Atlantic Resource Corp Employing Artificial Intelligence to Look for Tungsten (http://www.allpennystocks.com/aps_ca/special-reports/329/diagnos-and-great-atlantic-resource-corp-employing-artificial-intelligence-to-look-for-tungsten.htm) (CDN Company) * Article Published, February 12, 2013: Two Small-Cap Stocks Head and Shoulders Above Peers with New Drug Delivery Systems (http://www.allpennystocks.com/aps_us/special-reports/333/two-small-cap-stocks-head-and-shoulders-above-peers-with-new-drug-delivery-systems.htm)(U.S. Companies) * Article Published, February 13, 2013: Immunotech Labs Secures Funding for Clinical Trials on AIDS Patients (http://www.allpennystocks.com/aps_us/special-reports/334/immunotech-labs-secures-funding-for-clinical-trials-on-aids-patients.htm) (U.S. Company) Video charts for the week:
* February 13th Technical Video Chart For PACB. The Pacific Biosciences of California chart has made a strong climb from the dollar level in the past three months to as high as $3.25. After a multi-week pullback, the chart dropped a piercing line pattern and looks ripe to try and climb again. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/w6bSpIZ8Yi4 ).
* February 13th Technical Video Chart For DEE:CA. The Delphi Energy chart is basically caught in a channel from $1.10 to $1.20 and is making a move off the bottom once again. The indicators are neutral, but the chart will be on watch to bust through the top of the channel to possibly challenge the next resistance at $1.40. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/XwsjQDG3LOo ).
Featured Link: BullishInvestor.com ( http://www.bullishinvestor.com) – Offering Free U.S. and Canadian technical analysis charts, buy/sell ratings and stock screening tools for over 15,000 stocks utilizing technical analysis techniques such as candlestick charting, technical analysis indicators as well as volume and trend analysis.
WEEKLY UPDATE -STOCKS CONTINUE TO STUMBLE AT TECHNICAL RESISTANCE Stocks in North America found little reason to try and push higher and extend the 2013 rally with all the major indices losing ground, except for the S&P 500 in the States managing a tepid upswing for the week.
Political and regulatory leaders were front and center with President Obama`s state of the Union address, a G7 summit (a meeting of seven leading developed countries from around the world) early in the week and a G20 meeting in Russia over the weekend. The big takeaway from the G7 meeting was a unified pledge to clamp down on any suspicions of a currency war that was brewing among leading countries to combat growing inflation. Japan was particularly in the crosshairs with monetary initiatives with its yen to hit its goals of economic progress and higher stock prices. Japan`s economic minister Akira Amari has stated that he wants to see the country`s benchmark Nikkei exchange at least 2,000 points higher (to 13,000) by the end of March, a bold desire that has other leading policy makers concerned about their plans to make it happen.
Although the meeting is ongoing at the time of this writing, the Group of 20 nations meeting has provided little details about specific goals, but has sent word that the leading nations will pledge to reduce public debt, although a concrete plan probably won`t come until a September summit. A debt-reduction plan that has been in effect since a 2010 G20 summit in Toronto is set to expire at the end of 2013, forcing the hand of leaders to devise further policies or extend that pact. Also coming from Russia on Friday, the leaders echoed the sentiment of the G7 meeting to band together and not start a currency war, meaning that countries won`t try and devalue their currency to gain a competitive edge over other global currencies.
“[it] was quite clear last night that everyone around the table wants to avoid any sort of currency disputes,” Canadian Finance Minister Jim Flaherty told reporters.
Also on the international front, data from China`s Ministry of Commerce showed that holiday shopping picked-up during the country`s week-long Lunar New Year festival (the country is ushering in the “Year of the Snake”). Restaurants and retailers recorded 539 yuan ($85.5 billion) in sales during the week, a nearly 15 percent increase over the same period in 2012. The festival, which began on February 9 and ran through the 15th, is often compared to the Christmas shopping spree in North America. Even with the spike in sales, economists were quick to point out that it was still the slowest pace of year-over-year growth in four year as the Chinese government was effecting a campaign to discourage extravagant spending.
Investors were also greeted this past week with a bevy of earnings reports once again. To date, almost 70 percent of S&P 500 companies have reported earnings with about 70 percent topping expectations, ahead of the 62-percent long-term average. Moods going forward have been significantly tempered, however as many blue chips have delivered cautious outlooks that have fallen short of analyst predictions.
With earnings season starting to wind to a close, investors will be force-fed a pile of important economic data this coming week. As such, stocks could continue to lumber along at a hefty technical resistance point for both the Dow Jones and the S&P 500. Markets will be closed this week on Monday in observance of President`s Day in the United States and Family Day in Canada, giving the markets a breather from the indecision demonstrated last week. In addition to the economic data on tap, the markets are soon going to start to mumble about the upcoming March 1 deadline for wide-scale budget cuts that will be happening in the States unless Congress can finally breach the impasse to a new budget. The Federal Reserve will also be speaking on its latest meeting, following January`s dialogue that spooked investors that they may be ending quantitative easing efforts sooner, rather than later.
All that being said, the market are still in reach of historic highs and have delivered strong gains so far in 2013. The Dow Jones is up about 6.6 percent and sits about 1.5 percent from all-time highs; the S&P 500 is up about 6.6 percent in 2013 and is about 4 percent from a new record high; and the Nasdaq is up about 5.7 percent for the year.
In Canada, the bigger TSX Composite is up about 1.2 percent in 2013, despite sliding the past three days.
The Canadian dollar weakened against its US counterpart for the second straight week as commodities were broadly lower, dampening sentiment for the currency. Adding additional pressure on the loonie was manufacturing data that showed sales dropped to their lowest level in nearly four years, sending the CDN dollar lower against 13 of its biggest 16 peers. On the week, Canada`s dollar declined 0.40%, or $0.00399 against the greenback, meaning next week will begin with one Canadian dollar buying US$0.99364.
Commodity Snapshot:
* Gold futures slumped to six-month lows as the US dollar strengthened and investors fretted over a potential currency war amongst industrialized nations and subdued demand during holidays in China. Adding fuel to the sell-off was news that billionaire hedge fund manager George Soros had slashed his fund`s position in the SPDR Gold Trust, one of the largest gold exchange traded funds. Gold had been range bound for about two months and lacking a catalyst to hold it below $1,640 or above $1,700. On Friday the bottom fell out with bullion prices losing more that 1.5 percent. It was the first time spot gold prices had dipped below $1,600 per ounce since August 15, 2012. April contracts were the most actively traded during the past week, dumping $61.10 per ounce, or 3.66%, to $1,609.50.
* Silver futures also fell amid broad commodity concerns based upon G7 and G20 meetings, manufacturing data in the states showing deceleration from December to January and disappointing economic data from the euro zone, amongst other things. Investors worry about countries intentionally attempting to devalue their currencies in a move to try and boost exports as a strong currency makes exports more expensive. Spot silver is teetering on a break of a technical support level at $29.64 and ended the day on Friday at its lowest closing price since August 22, 2012. On the week, March contracts for silver were the most actively traded, losing $2.109, or 6.60 percent, to $29.849 per ounce.
* Copper prices held a tight range all week and outpaced precious metals, although still giving ground on global cues that signaled a possible slowdown in manufacturing. It was a light week of trading for copper as China, far and away the top consumer of copper in the world, was celebrating the New Year and providing no market data that usually serves as a catalyst for prices of the red metal. March contracts were the most actively traded on New York`s COMEX exchange during the week; shedding 4.75 cents, or 1.26%, to $3.737 per pound.
* Oil prices were trading ahead all week until bearishness on Friday leveled prices for a wide swath of commodities. Oil pushed on resistance around $98 on Wednesday before new concerns arose over global growth and a slide in US industrial production heading into the long weekend. WTI crude shed 1.5 percent on Friday to fall to week lows and below $96 per barrel. Gas prices in the States remain in focus as many refineries have clamped down production for routine maintenance pushing national gas prices to $3.64 per gallon, the highest prices since October. On the week, March contracts for West Texas Intermediate crude were the most actively traded; fading by 2 cents, or 0.02%, to $95.86 per barrel.
Equity Market Snapshot:
(All percentages on a weekly basis unless otherwise noted) * Major gold miners unitedly moved lower with bullion prices.
Yamana Gold (TSX:YRI, -8.38%), Goldcorp (TSX:G, -6.18%), Barrick Gold (TSX:ABX, -3.11%), Newmont Mining (TSX:NMC, -2.31%), Kinross Gold (TSX:K, -1.83%) and Agnico-Eagle Mines (TSX:AEM, -9.20%) all carved away points.
* Alacer Gold Corp. (TSX:ASR, -18.18%) reported that it will pay a special dividend to distribute $70 million in cash from the sale of its 49-percent interest in the Frog`s Lake mine in Australia.
* Barrick reported a net loss for the fourth quarter 2012 of $3.06 billion. or $3.06 per share, largely because of charges related to its purchase of the Lumwana copper mine in Zambia. The company said it is going to be more frugal in its budget going forward and that it is cutting or delaying $4 billion in previously budgeted capital spending and writing down the value of its copper business unit by $4.2 billion after taxes.
* Kinross nearly matched Barrick`s loss with a reported a quarterly net loss of $2.99 billion, or $2.62 per share, citing an impairment charge of $3.2 billion, primarily related to its Tasiast gold mine in Mauritania. The latest results compared to a net loss of $2.79 billion, or $2.45 per share, in the year-earlier period. Excluding items, Kinross reported net earnings of $276.5 million, or 24 cents per share, just shy of analyst predictions of 25 cents per share in earnings.
* Cameco Corp. (TSX:CCO, 0.14%) was a rare mining winner after reporting an 83 percent drop in net earnings in its fourth quarter to $45 million, or 11 cents per share, largely due to a $168-million writedown on its Kintyre project in Australia and lower profits from its uranium business. Excluding those and other one-time, non-cash items, earnings per share were 60 cents, easily topping analyst forecasts of 41 cents per share.
* Major energy plays were largely a drag again last week. Exxon Mobil (NYSE:XOM, -0.28%), Imperial Oil Ltd. (NYSE:IMO, -1.96%), Suncor Energy (NYSE:SU, -1.86%), Talisman Energy (NYSE:TLM, -2.44%) and Cenovus Energy (NYSE:CVE, -2.32%) all drifted down, while Canadian Natural Resources (NYSE:CNQ, +2.56%) added value.
* TransCanada Corp, (NYSE:TRP, -4.18%) reported a drop in fourth-quarter net income which fell to $306 million, or 43 cents per share. Excluding items, net income declined to $318 million, or 45 cents per share, short of Wall Street predictions of 49 cents per share of adjusted earnings. The pipeline operator also raised its quarterly dividend from 44 cents to 46 cents. Additionally, TransCanada said that it is seeking U.S. approval for the controversial Keystone XL pipeline which would carry oilsands crude from Alberta to Texas, and anticipates that the pipeline will be in service in late 2014 or early 2015.
* Talisman recorded fourth-quarter net income of $367 million, or 37 cents per share, on revenue of $1.6 billion, ahead of forecasts of 16 cents a share in earnings but missing on revenue estimates. The company also noted that the gain was mainly due to disposal of assets as the company, like many others in the energy sector, continued to feel the effects of low natural gas prices.
* Enbridge Inc. (NYSE:ENB, -0.15%) reported it a fourth-quarter net profit of $146 million, or 18 cents per share, on revenue of $7.2 billion. On an adjusted basis, the profit amounted to $327 million, or 42 cents per common share, two cents below analyst estimates.
Enbridge also said that it is starting a 50/50 joint venture with Energy Transfer Partners (NYSE:ETE, +2.98%) to convert some of Enbridge`s natural gas capacity to ship crude oil from a pipeline hub in Illinois to refineries in the eastern Gulf Coast refinery market.
* The biggest of banks in the US were generally steady yet again.
Goldman Sachs Group (NYSE:GS, +2.24%), JPMorgan Chase (NYSE:JPM, +0.51%), Bank of America (NYSE:BAC, +2.30%), Wells Fargo & Co.
(NYSE:WFC, +0.80%) and Citigroup (NYSE:C, +2.72%) moved upward while UBS AG (NYSE:UBS, -2.02%) dropped lower. XLF (NYSE:XLF, +0.91%), the financials select sector SPDR that tracks the financial stocks in the S&P 500, closed on Friday higher than it opened on Monday for the seventh straight week.
* Canada`s biggest banks didn`t see a lot of changes this past week.
The Bank of Nova Scotia (TSX:BNS, -0.76%), Bank of Montreal (TSX:BMO,-0.59%) and Toronto-Dominion Bank (TSX:TD, -0.82%) snuck lower, as Canadian Imperial Bank of Commerce (TSX:CM, +0.81%), Royal Bank of Canada (TSX:RY, +0.65%) and National Bank of Canada (TSX:NA, +0.37%) edged up a few points.
* BlackBerry (NASDAQ:BBRY, -14.16%) had a volatile week on news of losing more corporate and municipal contracts. Forbes reported that Home Depot (NYSE:HD, +0.76%) dropped about 10,000 its corporate BlackBerries in favor of Apple, Inc.`s (NASDAQ:AAPL, -3.12%) iPhones.
Also abandoning the BlackBerry was New Zealand`s police force that will be giving about 10,000 iPhones and iPads to its staffers later this year and into 2014.
* Speaking of Apple and fund managers, shares of the world`s biggest company were in the spotlight again as CEO Tim Cook slammed activist shareholder and hedge fund manager David Einhorn, saying that Einhorn`s lawsuit demanding that Apple change its guidance on preferred stock a “silly sideshow.” Einhorn has been on the company recently to start returning some of its stockpile of cash back to shareholders.
* Also on the investor front, shares of packaging company MeadWestvaco Corp. (NYSE:MWV, +12.39%) surged after activist investor Nelson Peltz’s Trian Fund Management said it had bought about 1.6 million shares of the company.
* Industrial conglomerate General Electric Co. (NYSE:GE, +3.51%) was one of the best performing blue chips, seeing shares rise after announcing that it was selling its remaining 49 percent stake in NBCUniversal to cable company and joint venture partner Comcast Corp.
(NASDAQ:CMCSA, +6.43%) for $16.7 billion.
* US Airways Group (NYSE:LCC, -1.69%) and American Airlines parent AMR Corp. (Pink Sheets:AAMRQ, +73.97%) officially announced an $11-billion merger to create the world`s largest airline. AAMRQ was just recently a topic of interest on AllPennyStocks.com prior to it`s huge run-up over the last few days, read more on AAMRQ here:
( http://www.allpennystocks.com/aps_us/special-reports/332/amr-corporation-shows-that-not-all-bankruptcy-plays-are-bad.htm).
* Warren Buffett`s Berkshire Hathaway (NYSE:BRK.B, +2.59%) and Brazilian financier Jorge Paulo Lemann`s 3G Capital announced a partnership to buy ketchup maker H.J. Heinz Co (NYSE:HNZ, +18.97%) for $23.2 billion, in what is being called the biggest deal in the industry`s history. Including debt assumption, the transaction puts the value of Heinz at $28 billion, or $72.50 per share. In a somewhat separate matter, securities regulators have already filed a suit against a still unknown trader, claiming that inside trades were made before the deal was announced that generated unrealized profits in excess of $1.7 million.
* Herbalife Ltd. (NYSE:HLF, +8.06%) was all over the headlines again this week after billionaire activist investor Carl Icahn disclosed that he owned 13 percent of Herbalife and was ready to put it in play.
Icahn, who is obviously bullish on Herbalife and hedge fund manager Bill Ackman, who has a $1 billion short position in the company, continued to throw sand at eachother this past week over their positions, a fight that started weeks ago when Ackman called the company a “pyramid scheme.” * Facebook Inc. (NASDAQ:FB, -0.79%) said that hackers had tapped-into some of its employees` laptops in recent weeks, making the social network company the latest victim of a wave of cyber attacks, many of which have been traced to China. Facebook said that it immediately corrected the situation, notified police and cleaned machines infected with malware. It added that it is still investigating the matter.
* Brookfield Asset Management Inc. (NYSE:BAM, -4.24%) agreed to buy $414 million to buy a portfolio of 19 apartment communities (totaling about 4,900 units) in three Southeast US states, largely in Charlotte and Raleigh-Durham, N.C.
* Shares of Google, Inc. (NASDAQ:GOOG, +0.96%) advanced for the fourth consecutive week even though the search behemoth said that former CEO and executive chairman Eric Schmidt plans to sell 3.2 million shares of his stock in the company, worth about $2.5 billion.
* Shares of Danish drug maker Novo Nordisk A S (NYSE:NVO, -10.88%) sank after the U.S. Food and Drug Administration said it wanted more data on cardiovascular risk before approving two of Novo`s long-lasting drugs for diabetes. Shares of rival diabetes drug maker Sanofi SA (NYSE:SNY, +3.22%) rose on the decision.
* Carnival Corp. (NYSE:CCL, -5.36%) saw its shares drop after its Triumph cruise ship, which had caught fire, lost power and stranded cruise goers at sea as a result, finally docked and allowed 3,000 passengers to exit the vessel. The first of what will probably be several lawsuits against the cruise operator has already been filed.
* CBS Corporation (NYSE:CBS, +4.23%) produced record results in the fourth quarter with non-GAAP earnings of $414 million, or 64 cents per share, although the figures were still shy of many analyst expectations of 69 cents EPS. Revenue rose by 2 percent to $3.7 billion for the fourth quarter, versus $3.61 billion in Q4 2011. CBS also boosted its share buy-back plan for 2013 by $1 billion to $2.2 billion.
* Shares of Wal-Mart Stores, Inc. (NYSE:WMT, -3.05%) stumbled after Bloomberg News cited internal Wal-Mart emails that showed the world`s biggest retailer was off to a weak start for sales in February.
* Avon Products, Inc. (NYSE:AVP, +22.08%) had a share price spike after reporting an adjusted profit from continuing operations of 37 cents per share, exceeding the 27 cents per share that analysts predicted, giving hints that the health and beauty products company`s turnaround plan is starting to work.
* International money transfer company Xoom Corp. (NASDAQ:XOOM) hit the ground running on its first day as a public company. IPO share pricing on Thursday came-in at $16 per share, $1 above the anticipated $13 – $15 range. Shares soared early and held, closing on Friday at $25.49 (near the $25.70 high of the day), for gains of 59.31 percent.
Weekly Indices Results:
The S&P TSX Composite Index continued its up-a-week, down-a-week pattern; declining 114.60 points, or 0.90%, to 12,686.63. The TSX Venture Exchange dropped lower again and is coming back down to a technical support level at 1,170; shedding 20.16 points, or 1.67%, to 1,185.65.
In the States, the Dow Jones Industrial Average closed modestly lower for the second straight week; fading 11.21 points, or 0.08%, to 13,981.76. The much-broader S&P 500 edged upward for the seventh straight week; rising 1.86 points, or 0.12%, to close at 1,519.79.
The tech-rich NASDAQ Composite couldn`t hold its highest and ended up snapping its six-week winning streak; drifting lower by on 1.84 points, or 0.06%, to 3,192.03.
Canadian Economic Data:
* The Canadian Real Estate Association reported that national home sales activity edged up on a month-over-month basis in January.
Compared to December, national home sales rose 1.3 percent.
Non-seasonally adjusted activity was down 5.2 percent from January 2012, however. The national average sale price increased by 2 percent compared to the year prior month. Sales in Edmonton paced the gainers with a 10 percent increase, while sales in Greater Toronto and Greater Vancouver posted monthly sales increases of 5.6 per cent and 4.7 percent, respectively, offsetting declines in several regions, including Ottawa, Montreal and Calgary.
* Statistics Canada said in its monthly survey of manufacturing that manufacturing sales declined 3.1% in December to $48.0 billion, the largest decline since May 2009. Just over half of the decrease reflected lower sales in the transportation equipment industry. Sales were also down in the chemical, petroleum and coal product as well as the fabricated metal product industries. Sales decreased in 16 of 21 industries, representing 82% of the manufacturing sector. Durable goods sales were down 4.2% while non-durable goods sales declined 2.0%.
This week, major economic data will include Canada`s International Transactions in Securities and Wholesale Trade on Tuesday; Employment Insurance on Wednesday; and Retail Trade and the Consumer Price Index on Friday.
U.S. Economic Data:
* The Commerce Department reported that retail sales only expanded 0.1 percent in January versus December, the smallest growth in three months, as consumers higher payroll taxes set in for Americans. The modest growth was in line with economist predictions as the new payroll tax has consumers bringing home about $40 less per week.
Retail sales had advanced 0.5 percent in both November and December.
* The Labor Department said that the number of people filing for first time jobless benefits dropped by 27,000 to 341,000 in the week ended February 10, far exceeded economist predictions of a decline to 360,000. The number stirred a bit of controversy over its accuracy as the winter storm that blasted New England states, Connecticut and New York may have kept claims from being filed. The four-week moving average of claims increased a tad from 351,000 the week prior to 352,500.
* The Federal Reserve painted a mixed picture for industrial production when it said that manufacturing output – which is the largest component of industrial production – slipped 0.4 percent in January, but upwardly revised output from November and December.
Overall industrial production slipped 0.1 percent in January. The weakness in January was largely led by auto production, a sector that could rebound quickly. For the fourth quarter as a whole, manufacturing output rose at an annual rate of 1.9 percent, a drastic improvement from the Fed`s first estimate of a 0.2 percent rate.
Further, a separate report from the Fed that surveys manufacturing in the New York region (the Empire State Manufacturing Index) showed a stark reversal in production from a -7.8 in December to a 10.0 reading in January. Readings below zero indicate contraction in factory activity, while positive readings indicate expansion.
* The University of Michigan-Thomson Reuters consumer-sentiment gauge – a barometer of how consumers view business conditions and their finances – rose to a preliminary February reading of 76.3, marking the highest level since November, following a final 73.8 reading in January. The new estimate topped economist predictions of a 75 reading for February.
This week, data in the States will include Housing Starts, minutes from the latest FOMC meeting and the Producer Price Index on Wednesday; and the Consumer Price Index, Initial Jobless Claims, Existing Home Sales and the Philadelphia Fed Survey on Thursday.
Technical Penny Stocks to Watch & Company Spotlight Results:
Amongst our “Daily Technical Penny Stocks to Watch,” our biggest mover was Advanced Micro Devices Inc. (NYSE:AMD), which was posted on February 11 at a price of $2.67 per share. Shares rose close to a resistance point with a high of $2.83 for immediate gains of 5.99 percent, before pulling-back a bit heading into the weekend, but are still holding a technically sound chart above support at this point.
Our latest US spotlight, Terra Tech Corp. (OTCBB:TRTC), a leader in sustainable agricultural products, including those used in the medical cannabis industry, reported on Monday that its acquisition target, GroRite Garden Center, was featured on HGTV’s “Cousins on Call” episode “Jersey Strong” which aired January 24th. The episode featured Ellen DeGeneres and the Cousins rebuilding and repairing a home that was damaged by hurricane Sandy. Ellen surprises the couple by bringing out the Cousins who reveal that they`ve already started working on the devastated home. They renovated the entire house and Ellen and the hosts consulted with Grorite for the landscaping of the property. Terra Tech recently announced that they have signed an LOI to acquire GroRite and all of its operations. The television appearance bodes well for Terra Tech`s future as it validates the position of GroRite as a super store in the Northeast.
Also on the acquisition front for Terra Tech, the company announced it has completed its first installment payment to NB Plants for the 5 acres of greenhouse it has committed to funding as part of the acquisition plan. Terra Tech’s successful acquisition of NB Plants, a 116-acre New Jersey farm and its brand ‘Edible Garden’, will push annual revenue in excess of $6 Million. Edible Garden a premier local brand of sustainably grown produce is available at over 120 major grocery store chains such as Shoprite, Food Emporium and others throughout the Northeast. Additional signed contracts for new products will put the Edible Garden brand in over 280 retailers throughout New Jersey, New York, Connecticut, Delaware, Maryland, and Pennsylvania by the end of spring.
Also in our focus this past week was Crown Marketing Pharmaceuticals (OTCQB:CWNM), the owner of a novel Controlled Drug Delivery Technology, or CDDT, that harnesses the principles of diffusion through precise mathematical formulas. The company announced on Thursday that patents for its CDDT have been approved and registered in South Africa. Crown is continuing to secure its worldwide patent rights as it pursues novel applications of its drug delivery technology. Technically speaking, the chart, which closed the week basically even, is sitting on a strong support level just above a dime per share and is worthy in our opinion of a close watch going forward for upward pressure and volume is building heavily in recent days.
We also will be announcing a new Company spotlight this upcoming week, look for this small-cap in your email boxes shortly, in our opinion, it will be well worth the read.
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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 six thousand five hundred dollars and two thousand dollars worth of barter services by a third-party, SmallCapVoice.com Inc. for its efforts in presenting the TRTC profile on its web site and distributing it to its database of subscribers as well as other services. AllPennyStocks.com has been compensated three thousand two hundred fifty dollars by a third-party, OTC Stock Review for its efforts in presenting this CWNM report 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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