Four Rebound Plays for Today’s Market Comeback: BNXR, MXGD, ABII, GSAT
There’s no two was about it: last week was a terrible one for investors. The S&P 500 index, a good proxy for the market as a whole, shed 3.89% in the last four trading sessions, a shortened week due to the MLK Jr. holiday.
But while most stocks slid precipitously, we actually managed to continue our trend of good-sized gains by looking for predictable technical patterns. On average, last week’s Watchlist plays gained 6.18%, outperforming the market’s drop by 10.07%.
That’s an annualized gain of 312%…
And this week, with stocks headed higher early in Monday’s trading, we’ll try to better last week’s still-impressive run.
In case you’re not familiar, each week, we take a look at a list of penny stocks that are exhibiting abnormal volume, strong technicals, upcoming news, or another catalyst that suggested they might be making a material move in the coming week.
As usual, while our Watchlist errs on the safe side of small-caps, using technical analysis to tell us where a stock is headed, we opened the comments up to readers again this week, giving you the chance to offer up more speculative penny stock plays.
Check out the comments after this article on the Penny Sleuth website to get a glimpse at a slew of new user-submitter penny stock picks – and the chance to submit your own!
First, though, let’s take a look at this week’s breakout penny stocks worth watching…
Abraxis BioScience (NASDAQ: ABII) – Abraxis Bioscience is staging an ascending triangle right now, a bullish signal that suggests shares of the biotech company are due for an upward breakout. Coupled with a bullish moving average crossover, the chances of seeing a breakout in this stock are strong. Still, with stocks anything but recovered right now, don’t even consider buying shares until they close above the horizontal blue line.
Midex Gold Corp (OTC: MXGD) – Shares of this tiny gold and diamond exploration company are seeing increased volume following a tick error that caused the stock to pop up on traders’ radar. Once there, many noticed that this small OTC company is actually exhibiting technically bullish signals. Be extra-careful if you do decide to trade this one; tiny OTC stocks can be very volatile.
Brinx Resources Limited (OTC: BNXR) – Brinx Resources is another OTC stock that’s seeing increased activity today. Unlike MXGD, however, Brinx is staging a fully formed breakout today (and over the last three trading days). We should be able to capitalize on upward momentum this week.
Globalstar Inc. (NASDAQ: GSAT) – Our sole short-side play this week is Globalstar, a satellite communications company. Globalstar hit a double top on Friday, a bearish signal that suggests shares are headed lower. And now, with the next support level down at 94 cents per share, this company has a long way to fall…
Share Your Penny Stock Picks…
Once again, we’re going interactive this week…
Just post your recommendation in the comments of this article section between now and the market’s close on Friday, January 29 to share your favorite penny stock play with the rest of the world.
Cheers,
Jonas Elmerraji
January 25, 2010
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China crescent “CCTR”
Like VIVK it down now but getting ready to move back up.
Love your site, great reports and articles but is there any way that the Monday penny stock watch lists can be submitted on a Sunday or a couple hours before the opening bell on Monday so that we may capture all possible gains. BNXR is up 40% since the opening bell, but today’s post did not post until after 1pm. Thanks for any info/feedback. Keep up the outstanding work
Jerry — Thanks for your comment… We’ve frequently run into issues where our e-mail gets stuck in limbo while the stocks we’re mentioning are already moving. I’ll see what I can do to get the list to you guys at a more actionable time!
Best,
Jonas
I LIKE JEDM. LOOKS LIKE BIG THINGS ARE GOING TO HAPPENS WITH NEWS ABOUT THE COMPANY BEING PROFILED ON CNN NEWS ON FEB. 1ST. CAN STILL JUMB IN AT .O6,,, COULD GO TO A BUCK FOR SURE. BET THE FARM ON THIS ONE. ART
My picks: KERX, GNVC, IMMU
A SMALL GOLD MINING CO,…….SIERRA GOLD CORP……….SGCP .0004 READY TO POP.
My comment is a stock pick, Polymet Mining ticker PLM is ready to TAKE OFF!!!!!!!!!!!!!!!!!!!!!!!!!!
Jonas, thanks for the quick response. I appreciate your dedication and hard work.
NMNZF will be big, if you like mining stocks. IMGG is still a good buy – they had a run up and back down on rumor alone, but they have a great product if you can wait ’til April for FDA approval. Further, they are well capitalized so the delay in approval can be withstood. MTCH still looks good as infrastructure gets repaired.
CPHI on AMEX looks interesting!!
Hi,
Where do you get your candlestick charts like the one in the example above from?
colon.kent@gmail.com
PLM, about to get permit for copper, nickel mine in northern Mn.
I like CONX.OB – profitable small company with some new biotek products.
Globalstar Inc. (NASDAQ: GSAT) … I bought them in nov. ’08 off the bottom and sold them in mid 2009 for much more than they are now offered at price. I am still watching them because nowhere in my playbook
does it say you can’t buy a bargain and sell again for profit in the future. Jonas, You know this fact!
Keep a keen eye on NAVI – Navisite —Nasdaq. And watch CHRS- Charming shops as well as CMRG –
Casual male retail ! ….Fat women like nice clothes they cant buy off the shelf at walmart as well as fat men who have to buy what fits their fat bodies. …Excuse me, i am slim and trim but notice trends and how the fattening of america is getting worse!
Dynavax technologies- DVAX –Nasdaq… another gem i bought for pennies, 5000 @ 0.22 per share late
November 2008 is a force to be reckoned with. I could go on and on, but please understand i am not trying to brag about buying off the corpse of others mistakes and sell-offs when the sky was falling in late 2008,
but this is business and may the chips fall where they will.
Here is a few more of my 5 & 10 baggers which are destined for 20 bagger status or more.
ISR- Isoray — Amex.
PLAB- Photronics Inc. Nasdaq
SCSS- Select comfort corp. Nasdaq
KERX – Keryx Biopharma. Nasdaq
NAVR- Navarre Inc. Nasadaq
CERS- Cerus Corp. Nasdaq
CGEN- Compugen- Nasdaq
DPZ- Dominoes pizza- Nyse.
I have too many to list from my portfolio that were pennies and now dollars. Have fun and prosper!
MDGC, this is going to fly, rumors are circling about their Wimax mega deal contracts with Clearwater, Sprint, and Walmart, this is a sub-penny play, and for past 3 days very unusual volume yesterday alone was almost 17 million, but no official news yet, just rumors but something is up. Either way i’m in at below a penny a share.
These are no longer ‘penny stocks’ ….But i was right about Ford motor company early ’09 and bought
under $3 per share. ….symbol (F) – NYSE, ..Alan Mulally is maybe the most brilliant & competitive CEO
on the world stage today. Ford will overcome all competition including the japanese to be the best of the best by 2012. ….If you didn’t buy bank of america (BAC) late 2008, or citigroup (C) dirt cheap in the same time frame, ….it is still not too late! ….These will double by years end. … ~ so will ARCI …My thesis after
studying fannie mae FNM, & freddie mac FRE, remains intact! ..The shorts can pummel these stocks….
…BUT! there is NO WAY the imperial federal government will let them tank! …. Bought under a dollar…
to sell by 2012 @ over $17. per share. …..Do not underestimate ( LAVA) magma design automation inc.
Misterevil, a few good pics. whats sure in feb? I almost did 3X on AIB this year. it is almost back to it’s 1YR low. I may get back in this week. Before the meltdown A 45$ Bank stock!
Hello chriscan,….”Misterevil, a few good pics. whats sure in feb? ” …..Thanks for the question. …To be sure
i will tell you that ‘I’ am NOT a member of the ‘Penny Stock fortunes’ board of directors, nor on their payroll
for picking winning stocks to gain membership! …BUT! …these picks i have offered are definitely going up!
and my small personal hedge fund of so far 273 companies has blown away ‘Jim Cramers’ average by
over 1,500 percentage points average, adjusting for splits. …..I am an anomoly in these times when most
sheep sell when their stocks get sold off in a broad market downturn, which is a basic market correction and the ‘playbook’ is basically thrown out the window during these exciting times for individual stock picking and creating your own dream fund towards the eventual uptick by 2011 and an absolute surge by 2012 !
I am an acolyte of “The Master” Peter Lynch, and have weathered many storms. Mr. Lynch truly believed in
the viability of great companies with solid fundamentals will always come out on top! …..We are in a time where ‘buy and hold’ is an absolute necessity to preserve capitol… if you expect maximum gains over the
longterm. …I will say this! …Many of the companies i hold are cash cows! …..meaning i have pulled my
initial buy price + transaction fees+ pulled a profit and sent them running on pure profit for maximum gain
in the future. This is the way to play the game! …Fact is! ..Many of these great companies could never be bought again at my initial entry price if i sold off in a panic as the sheep did in late 2008.
We are into another transitional period where sellers are overcoming buyers and trillions of dollars are still
on the sideline waiting for an entry point. …..THIS is the time when I buy and smile, grinning from ear to ear
and either increase my positions in good companies, or buy into new speculative ventures with potential.
These are the best days of our lives in picking stocks, and any SOB that says ‘buy and hold does not work’
is a frigging idiot! ….Chriscan i will recommend one cyclical stock right now to answer your question…
I am Not on the payroll at ‘penny stock fortunes’ …YET! …But , i will recommend a strong cyclical company
which is on the move, as strange as it seems in the dead of winter when half of the northern hemisphere
from upper canada to the lower southern states are damned near frozen….(.FRZ) reddy ice holdings- NYSE
…Buy and hold long!
P.S. …~SIRI~ … Sirius XM radio is A STEAL at current price and a long hold !!
PTRZ is an energy and many producing precious metals mining company. Recently made the Pink Sheet list, and anticipates NASDAQ listing any day now, at which time it should jump from 0.25 to $2. Altho I have sold some on runups and repurchased upon pullbacks, my core holding will be for long term. Watch for sudden volume increases.
can someone please tell me the deal on bergio? I keep buying, watching the price drop then drop again then again! I’m a big boy so I can handle the truth…. give it to me.
Hard to subscribe when two picks in 2007 lost 98% in six months. CGFI and WSEG
i dont know about 2007 and 98%.but i got in nov,have not seen anything.but down down down
Hey robbin. …Hold, stay long..Bergio International, Inc. (BRGO.OB)
I have watched this one for a while and the market cap has fallen to less than 3 million. When it drops
below 0.20 per share i am pouncing and buying. ….Don’t do like i did when i sold ‘charles and colvard’
jewelers for a small gain…..If i still held them i would have a 5 bagger so far. …I just may buy them again
on the next downturn. Just because a stock drops in value over time does not mean the company will
tank, only that your core fundamentals which you bought the company is questioned. It may be a fantastic
‘turn around play’ ….besides, this is not the best economy for fine jewelry….Hold.
So what happened last week to MXGD? Was it promoted for all of the current shareholders to get out?