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VOLUME 07 : ISSUE 90
Spicy
Pickle Up & Running
Before
I forget, I want to remind you about the Spicy Pickle's (OTCBB:
SPKL) web video available simply by clicking the nearby image.
From the feedback we've gotten so far, the short video has been very
helpful for investors, adding any remaining details we couldn't get
to in Saturday's
profile. Remember, it's only a small investment of your time (the video
is less than 10 minutes long), but could be one of the best investments
you make all year.
Anyway,
here we are - two days after we launched our coverage. In a nutshell, SPKL
is off to a great start.
When
I saw the stock gap higher on Monday morning, I wasn't sure what to think.
I don't mind gaps...I don't particularly want them, but I don't
mind them. My worry was whether or not SPKL was going to take off and instantaneously
be out of reach for anybody who wanted in. Fortunately, the stock found
a comfort level between 75 and 85 cents on Monday, and that range was even
smaller (and more bullish) on Tuesday, and it seems as if there's some
support around 75 cents.
So
where to from here?
I have
to say I'm fairly impressed. With Monday's big move higher, I'm sure it
was tempting for all those owners who bought shares at 50 cents (or even
less than that) to go ahead and lock in a big gain, which would have driven
the chart much lower. They didn't though. In fact, we saw a few
more buyers pile in today..even more than with Friday's big rally.
The stock closed out the trading session slightly higher than yesterday.
I'd
like to see a higher high sometime this week to really add some solidity
to the stock's recent run. All things considered though, investors seem
quite OK with the big jump so far. As far as the gap is concerned, if it
does indeed get closed, I view that as another entry opportunity. At this
point, however, I wouldn't be shocked if it never got closed.
Overstock
Overbought?
I don't
know whether I should celebrate or gripe. I'm thrilled our Overstock.com
(NASDAQ: OSTK) pick
from September
7th is already up by more than 20%. I just wish it would have gotten
from there to here at a little slower pace. Sound crazy? I don't
entirely disagree, but here's my thinking...
The
result of the big, quick move is a very overbought chart, and we were somewhat
overbought to begin with. (I'm using stochastics as my overbought indicator.)
It's not like being overbought is a sure-fire recipe for a pullback, but
it doesn't exactly help. We've also seen a high right around $28.00 over
the last three days. Is there something significant about this level?
Not that I can tell, but the uptrend seems to be taking a break there all
the same.
So,
I think the right way to play it is prepare for the worst, and assume
the best.
In
this case, even the 'worst' isn't all that bad. I think a slide all the
way back to the 38.2% retracement line would be a much-deserved breather.
Unless that $26.65 level failed to act as support, it really wouldn't worry
me. In fact, it may well be a decent second-chance entry for those so inclined.
On
the other side of the chart, I believe breaking past the short-term ceiling
of $28.00 could be a bullish catalyst...at least enough of one to get us
up to our target of $30.20.
I mentioned
the possibility of ignoring the target and letting it run as long as it
could. Based on the speed and size of this gain though, now I'm thinking
we should just leave well enough alone, and leave the suggested target
as is. If it continues to run past that mark, we can always buy it
on a dip later.
BioCurex
Advisor Honored
It's
becoming clear why BioCurex (OTCBB:
BOCX) is really starting to turn a few heads within the medical
community - they have some of the brightest people in the industry involved
in their work.
The
latest round of evidence comes from the International Society for Oncodevelopmental
Biology and Medicine (ISOBM) conference...the one we were discussing only
a few days ago where Abbott Laboratories (NYSE:
ABT) finally unveiled
their success with BioCurex's RECAF cancer marker. Dr. Stewart Sell,
a member of BioCurex's scientific advisory board, was presented with the
ISOBM-Abbott award. He was chosen based on his lifetime work in cancer
research, immunology, and stem cell research.
Dr.
Sell's background is impressive to say the least, and it was far from the
first honor bestowed in him.
While
congratulations are in order, something else now really sticks out thanks
to the announcement...BioCurex has a lot of brilliant people on their
team. That's nothing new, and certainly isn't the kind of thing that's
going to make the stock jump tomorrow. However, I do think it's critical
to the long-term success of a stock to have the right leadership in place.
(After
all, if the biotechnology doesn't work, what's the point?)
By
the way, it's not the first time a BioCurex advisory board member has won
the ISOBM-Abbott award. The two gentlemen who discovered the first two
ever-known cancer markers are also on BioCurex's scientific
advisory board. Coincidence? I doubt it.
Anyway,
here's
the complete news release.
Titan
Global - Still Going
It's
almost become surreal how rapidly Titan Global (OTCBB:
TTGL) is expanding, with its stock in tow. I really hope you got
on board when we first suggested
it back in January, or at least when we reiterated it in early
August. The stock is up about 80% since our first look, and may be
on the verge of yet another bullish leg.
Take
a look at the action since the 16th of August. That was not only the market's
bottom, but also the beginning of a recovery for TTGL following
a huge washout day on the 15th. I plotted some Fibonacci lines starting
with those lows, and extended them all the way up to September 6th's peak
of $2.20. As long as that first retracement level holds near $1.87 (which
it has so far), I think everything is going to be fine. That retracement
level is likely to be a factor until....
...we
see a move past $2.20. TTGL revisited that high again last week, and
has toyed with it everyday since then. We've not yet seen a trade above
that level, but I feel that we will eventually. Why? This stock
has made a habit of stair-stepping its way to higher highs....up, then
sideways, up, then sideways. The 20 day moving average seems to be the
uptrend's restart point.
The
catalyst for this recent push? There's certainly not been a lack of news
from Titan, but I think this latest round of buying interest was inspired
by the conference all from Thursday, September 20th, and the news from
Friday, September 21st. If you missed that press
release, basically, Titan Communications is now going to utilize
Appco's convenience stores as retail outlets for wireless phones and pre-paid
calling cards. That was no surprise - multiple uses of distribution
channels has been their goal for quite some time. I think the brunt of
the new demand was prompted by the conference call.
Keep
an eye on $2.20...I've just got a feeling.
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These purchases were made in Spicy Pickle private offerings. The aforementioned
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