Oil&Gas craziness continues. It seems like if the stock has anything to do with oil&gas and it trades on AMEX, it runs wild. I believe once there will be no more AMEX stocks to run, it'll spill over to Bulletin Board oil&gas stocks.
BSIC.OB jumped from $1.70's (recommendation) to $3.04 in a matter of a week. Today, it pulled back a little - nothing goes straight up (unless it's MXC). $3 is a major resistance and I'm pretty sure it'll try that again, who knows - maybe even tomorrow. The stock really started its run from $1, making it 200% run in just a few weeks. It's just taking a little break to reload. Very bright future here with excellent management. It's not your regular pump&dump stock. It's slowly gaining more interest, indicated by the increasing volume. I think the run will continue after a small consolidation.
AFAM continues to run (since recommendation at just below $21), ignoring the market weakness. During the previous market crash at the beginning of the year, it pretty much ignored it too. This is not a daytrade by any means. Just a solid long term hold.
TVOC.OB is getting ready to be discovered once the oil&gas momentum spills over to Bulletin Board stocks. The stock is priced in at prices of oil in $60's. Where else you can find an oil&gas stock with TRAILING PE of less than 16, when these previous earnings were based on $68 dollars average price of oil? Besides coming up with $0.39 in Q1, it has a tiny float - 314k.
HRBN - just trading in the range. Small weakness today due to general market weakness. The good thing it closed above 200dma, so it's holding for now.
Wednesday, May 21, 2008
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