Penny Stocks for 2010: MTRX, NGT, GLBC, PVCT
The markets have made quite a run for it in the last month – the S&P 500 alone is up 6.71% in the past 20 trading days. And as a result, we’ve seen small-cap stocks bring in significant gain potential. Take our weekly watchlist, for instance… Since we started publishing our list of penny stocks most likely to make a move back in October, we’ve seen quite a few opportunities to make triple-digit gains. Here’s a look at four more penny stocks for 2010 that stand to make gains this month…
All told, 90% of the stocks we’ve featured have given investors the chance to profit in the weeks since recommending them. That’s a significant success rate given the fact that the market has remained more or less flat over that time.
The key to successful small-cap trading is taking smart entry and exit points. That means buying shares when they cross a significant technical threshold (which I usually point out in each stock’s blurb) and selling when they cross another. We’ll take a closer look at successful trading strategies in a future issue…
In case you’re not familiar, each week, the Penny Sleuth takes 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 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…
Penny Stocks 2010
Matrix Service Company (NASDAQ: MTRX) – Construction and maintenance contractor Matrix Service Company serves clients in the energy industry. But the company’s stock could be serving long-side shareholders if a bullish inverse head and shoulder pattern plays out. Wait for a bounce off of shoulder level at $11.50 before considering going long this issue.
Provectus Pharmaceuticals (OTC: PVCT) – This small-cap pharmaceutical company is looking potentially bullish right now thanks to a pennant continuation pattern that’s formed in the stock’s chart. That pattern suggests an upside price target of close to $1.90 – an almost 40% upside swing. Don’t take the trade until it breaks above the pennant’s resistance level.
Eastern American Natural Gas Trust (NYSE: NGT) – This natural gas trust, which owns stakes in 650 producing gas wells and 65 development wells in West Virginia and Pennsylvania, could be on the verge of a technical breakout right now. Shares have been forming an ascending triangle for a few months now – one that could spell a big jump on a break over $23.90.
Global Crossing Ltd. (NASDAQ: GLBC) – Bermuda-based communication service provider Global Crossing could be in store for some gains with an ascending triangle forming right now in the company’s stock chart. But this pattern’s still a while from coming to fruition, so hold tight and wait for a break above resistance to make your stake.
Share Your Penny Stock Picks…
Once again, we’re going interactive this week…
Just post your best penny stock pick below in the comments section of this week’s Watchlist by Friday, March 19.
Cheers,
Jonas Elmerraji
Managing Editor, Penny Sleuth
March 15, 2010
Jonas Elmerraji
A big-four public accounting alum, Jonas Elmerraji brings his readers extensive expertise in small-cap stocks and broad market moves. Elmerraji’s interest in the market started with an investing course in elementary school – today he holds a degree in financial economics from UMBC and specializes in blending fundamental and technical analysis. Elmerraji has contributed to Forbes, TheStreet.com, and Investors Business Daily among others. He is managing editor of the Penny Momentum Trader, and a co-editor of Penny Stock Fortunes.
The Penny Sleuth, presented by Agora Financial, features articles on penny stocks, options, small-cap stocks, pink sheet stocks and OTCBB coverage.
Sign-up for the FREE Penny Sleuth e-letter to get small-cap stock analysis and options strategies sent straight to your email inbox every trading day.
We Value Your Privacy
ShareThis
check out ULU on Amex
I believe AMOK will bounce up big within the next few months1
how do you feel about emerging health care solution (ehsi)
My three favorites are still SCEY, HPLF and SOBM.
check them out!!!
AENY has been good bought in at the pull back now up 13.6% AMOK looks good- going cautiously. likely I’m in a little premature.
Take a look at Noront Resourses (TSX: NOT) – huge nickel and other metals in the “Ring of Fire” in the James bay lowlands of northern Ontario. This one is a potential 20 bagger or more!
Check out the discussion board at: http://www.agoracom.com/noront
ARTS is the one this week , Announce TODAY a BIG dividend paid-out in April IF holding by April 15 th.
oilxf and mgic look great right now – do some research, but I love their immediate potential
NVNC and NWND both of these are trending up on above average volume . They look like they are ready to breakout for big gains
SCLN… poised for a breakout, starting an ascending triangle.
“IF” i paid heed to the doom and gloom factor analysts and pundits are so fond of writing about
so often, i would have gotten out of the stock market completely after 9-11-01…. Losing over $15,000
a few days later really sucked! ….I lived through the President jimmy carter years and was just
starting out and remember the ‘doom and gloom’ of that era…inflation and mortgage rates through
the roof, O.P.E.C. basically strangling the U.S. oil supply, lines of cars waiting to buy gas, signs
in front of stations reading ‘no gas’. ….In 1979 China invaded Vietnam as punishment for the vietnamese
invasion of cambodia. Massive land warfare, casualties, & collateral damage in the 2 weeks when
china basically ‘owned’ the upper 20 miles of vietnam before pulling back. The soviet union invaded
afghanistan. ..Iran took over 150 americans hostage under ayatollah khomenie’s regime.
Gold almost hit the $1,000 per ounce mark for the 1st time ever, A vicious rumor
was spread that Mcdonalds used worms as an ingredient to save money on hamburger meat, the
stock took a hit. Cocaine was everywhere and cheap, everybody smoked pot! …I was there….
What the hell does this have to do about stocks? …Everything if you ask me! …
Things settled down in a few years. Gold was under $400 per ounce in 1994 and i had been into
mining as a hobby for a few years and still am. I dont buy gold, i find it !
Late 2008 was a stock pickers paradise, a once in a lifetime chance if you were sitting on more
cash than equities. ….I was there….
Here are a few of mine that have done well, and have much room to grow in the future.
….National Defense plays ….
ARTX – Arotech Corp. Nasdaq.
PIP – Pharmathene. Amex. (chemical and bio-defense research against any and all known
attacks using deadly chemicals or pathogens}
KTOS- Kratos Defense & security solutions. Nasdaq. http://www.kratosdefense.com/
…..Fat People plays…..
CHRS – Charming Shoppes Nasdaq. Fat women.
CMRG- Casual male retail Nasdaq Fat men.
Put a recent positon into IMOS ~ ChipMos Technologies, a bermuda based company that is also
based in taiwan. Looks good for future gains.
“If it seems the world is flat, and going tits-up, it is time to buy stocks” ~Misterevil~
))))))))))) BREAKING NEWS ! ((((((((((((((((((((((((
My recommended pick a few weeks ago i talked about more than once as a strong buy……
Somaxon Pharmaceuticals (SOMX) Nasdaq, JUST ROCKET LAUNCHED and hit the
after burners. …..Made me a 3 bagger in less than an hour. Yep, i’m gonna hold for a while.
Cinderella stories ‘DO’ exist for pink sheet speculators such as myself, and many of you out there
with patience and a fair ammount of pure guts to keep holding and see what happens! ..Check this one out.
http://www.lyricculture.com/
I bought 100,000 shares of Lyric jeans on Sept. 15, 2008 for $0.004 per share. This week they are 0.02
per share and they are advertising and kicking ass, making headway into the mainstream. Who knows
where they are going in the future. …Certainly not me!.. I am a speculator, this is what i do best.
They stayed in the back of my portfolio for a year and a half stewing and boiling and i never once thought
about selling. No Way i am selling even for another year and a half. …Volume is too heavy and they are
into target stores and nordstrom now, as well as many others. I’m going into my local Target store this
weekend and do some recon. A volume check! …If the ladies are buying i may increase my position by
another 15,000 shares. This is not cheap stuff! …Holding long!
What is pink sheet stock ?
Bob,
The pink sheets and the OTC / OTCQX index is a quite large collection of companies that do not
meet the requirements for listing on the major exchanges, were de-listed from these exchanges,
or declared chapter 11 bankruptcy in which case they go directly to the pink sheets, denoted by
the letter ‘Q’ after the symbol; example Lehman brothers holdings (LEHMQ) which i bought late
december 2008 for 0.10 per share after they spooled down from the sept 2008 bankruptcy. There
are other reasons companies remain on the PK, and some easily meet listing requirements for
the nasdaq or nyse with market cap and share price, but choose to stay where they are.
There is good money to be made if you choose wisely from the pink sheets but beware! …
It is wise to go to the SEC website also before you buy, and read between the lines on the
chosen companies website. I have made damned good money from pink sheet stocks in the past, …
but also got my balls busted by not doing enough research before buying.
http://www.otcmarkets.com/pink/index.jsp
Navigate carefully, and do NOT let emotion dictate what you buy no matter how good it looks!
check out gnmt.gold company going into production
Misterevil done some research and I also agree with u on LYJN and KTOS keep up the good work and keep coming with the good picks thanks
Any comment on “CTIC” Where it could go ?
I love TSEM I fully expect them to keep moving up,up,up and am staying for the long of it
I purchased “ARDNA” at your recommendation. However it shows pretty low volume and seems risky. It’s
does show only no. of shares but no price in my account. When I look for it’s current price it shows some
old value. Should I get out of it ASAP or what?
I love VCSY. It is ready to explode. Microsoft is using their technology and patents. Any day this stock could blast off into orbit. It’s pennies now but could hit the Nas very shortly.