Penny Stocks

BEHL Biocentric Energy Holdings Continues Bullish Trend

by

behl20090728 I want to do a quick refresher post here on BEHL.  BestOnlineTrades first mentioned BEHL on 7/23/2009 close to 3PM eastern time.  On that day the intraday low for BEHL was .021 and the intraday high was .0255.  It closed at .0255 .

Today BEHL closed at .0365, 43.14% higher than when it was mentioned on that day.

The price structure and performance so far still looks quite promising to me. I indicated before that I liked the clean volume advance which looked like heavy accumulation and the rapid decrease in volume on the retracements.  And as a bonus that volume and price action was coming off of a fairly long flat base of 7 to 8 months in duration.  This is important because many times it shows that a stock has entered a major new uptrend phase, or mini bull market if you will.

But the reality is that most penny stocks simply do not make it too far into their new mini bull markets.  They try and they fight to get higher but a lot of them just can’t get enough steam going and either the price advance is TOO LABORED, too slow or the retracements in between are too large and cause the advance to lose too much energy.  These things can kill the advance and cause the move to be a false one.

Read more

Watching EPEX Edge Petroleum Corporation for a Signal

by

We are keeping an eye on Edge Petroleum Corp EPEX for a possible decision point in early August.  EPEX is a crude oil and natural gas exploration company.  So clearly the price of oil and natural gas is one factor in the potential future price of EPEX.

I did a brief post on the price of natural gas earlier indicating that natural gas as represented by the UNG ETF is slowly starting to form a bottom.  It probably has quite a bit more work to do at the lows for a clearer picture on a real trend change, but for now the first major guidepost for UNG is the July monthly closing price bar and then the follow through on the August price bar.

We already know that the price of crude oil has been able to get a substantial recovery rally going from the depths of its bear market lows.  Now if natural gas can start a similar trend, we feel it will be beneficial to EPEX.

More important than that however is the actual price action on EPEX.  Lets take a look at what it has been doing.

epex20090728 

Read more

BEHL Biocentric Energy Holdings Penny Stock Worth Watching

by

behl20090723

BEHL, a penny stock that trades on the pinksheets is worth watching to me because it has shown 3 signs of strength already since a few months ago and now is in a consolidation pattern that will either be a falling wedge or just a sideways channel.

I like that advance that BEHL has had since a few months ago.  The quality of the volume on the advances and the rapid decline in volume on the consolidations looks good to me.  A lot of times on penny stocks I tend to see heavy volume on the advances but then also excessive volume on the consolidations.  In my experience that has more often than not been a troubling sign.  But BEHL has not shown that and right now price is holding within the range of .02 to .035. 

So .035 is the top of the range.  I do not know how much longer this consolidation will last, but when either of those two blue dotted down trending lines on the chart above are violated, it will be the first sign that change is at hand.  I think there is an outside chance BEHL could do a swing low to .015 before the uptrend resumes, but I could be wrong.

Read more

IDOI IDO Security Pinksheet Stock at a Tipping Point

by

IDOI, the pinksheet sub penny stock that I have mentioned a couple other times could be at an interesting ‘tipping point’ going into today. I mentioned in an earlier post that I preferred it to make some kind of move this week otherwise I would not talk about it again.  Well we are almost as … Read more

Chemtura CEMJQ is worth watching for a new up trend

by

cemjq20090721

CEMJQ the specialty chemicals company is worth watching right here as I am seeing positive MACD trend as well as sustained support along its uptrend line and also slightly peeking out above its downtrend from a bit more than one month ago.

I believe that Chemtura gets close to 50% of their business overseas.  Don’t quote me on that but I believe they have a substantial portion of their business overseas. So why is this important? Well I just wrote about how weak the US dollar index looks.  If the US dollar starts plummeting, then it could have significant currency exchange benefits to CEMJQ and other multi national corporations.

Read more