Penny Stocktoberfest Briefing 10.01.10 AMCN HYC NEP VHC BORN QUIK
Much welcome to October as August and September have been quiet although profitable. Lets get some volatility back in this market.
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AMCN
The benefactor of some contract news. Story here.http://finance.yahoo.com/q?s=amcn There is upside resistance at 6.50 that takes it back to April highs. The stock is a touch high here and it’s gone from $ to $6 in the last four days. They are not that great of a company so investors should catch on. Recently crappy stocks have been breaking out like teenage acne so watch this one closely. 6.50 is my sweet spot for shorting.
HYC
+50% on buyout chatter but late news lists a rejected offer. There is now talk of a $9 buyout but nothing confirmed. I have no play on it at the moment but it’s worth a look as any stock up this much requires attention. I will update Friday as more details become available.
NEP
I kind of overlooked this after featuring it on the watchlists a few weeks back. It has been breaking out everyday and now it’s back on watch. I have an upside target of 6.50 to 7 as a short entry. I have no problems buying NEP but it’s too high for me to chase up here. This play could last all month as when NEP gets sold off a buy order may pay off.
Wasteland
A few stock just keep hanging around from previous watchlists. VHC shocked this keeps getting bought up analysis was on yesterdays watchlist. QUIK remaining lofty and consolidating waiting for something to happen but zzzzzz. BORN just keep going and I keep watching it I missed a few buys on this but there normally is a play happening.