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August 15, 2010
Week In Review...
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Week In Review For
August 9th to 13th, 2010
Canadian Companies mentioned include:
U.S. Companies mentioned include:
This week on AllPennyStocks.com:
Video charts for the week
(New Format):
-
August 9th Technical Video Chart For V.GAP.
The V.GAP chart has worked itself into a
symmetrical triangle after making a solid move.
Now we are looking for support levels to hold and
for a possible breakout of the triangle.
Click here to view.
August 10th Technical Video Chart For HNAB.
HNAB is in a position where support levels must
hold. This video not only shows levels of support
and resistance, but also provides a basic lesson
in trendlines.
Click here to view.
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WEEKLY UPDATE -
MARKETS SELL-OFF ON
ECONOMIC UNCERTAINTY
In a week of conflicting economic news, and the words
“double-dip recession” on the lips of at least a few
experts, investors felt sufficiently spooked to chuck
shares of many of the equity issues they still held,
sending North American stock indices sharply downward.
The S&P TSX Composite Index closed out a rough week at
11,528.55, a week in which it tumbled 271.72 points or
2.3% of its strength. Its smaller-cap cousin, the TSX
Venture Exchange faired a bit better and ended Friday’s
trading at 1457.05, a downturn of 8.43 points or 0.6%
over the week before.
In New York, the Dow Jones industrial average dipped to
10,303.15, falling a total of 350.45 points, or 3.4%, on
the week. The S&P 500 index moved lower 42.39 or 3.9% on
the week to 1,079.25. The tech-rich Nasdaq composite
index dropped 114.99 points or 5.1% to 2,173.48.
In economic news, Statistics Canada’s New Housing Price
Index rose 0.1% in June, after advancing 0.3% in the
previous month. On a yearly basis, the index was up 3.3%
in June following a 2.9% increase in May.
Investors in the States were disappointed Tuesday by a
report showing business productivity unexpectedly fell
0.9% in the second quarter, marking the first decline in
18 months. Economists expected growth to slow to 0.1%.
Wednesday, Statistics Canada said the nation's trade
deficit with the rest of the world widened to $1.1
billion in June from $695 million in May. Economists
were looking for the trade deficit to narrow to $300
million from the deficit of $503 initially reported in
May. The U.S. trade balance rose to $49.9 billion U.S.
in June, although economists expected the balance to
have narrowed to $42.2 billion U.S., from $42.3 billion
U.S. in May.
Thursday, it was learned that import prices in the
States jumped 0.2% in July from the prior month, and
were up 4.9% from a year earlier.
On Friday, Statistics Canada said new motor vehicle
sales rose 2.5% to 130,135 units in June, largely helped
by higher truck sales.
Stateside, July retail sales rose 0.4%, slightly less
than expected. Also Friday, the U.S. Consumer Price
Index, a key measure of inflation, snapped a three-month
streak of declines and ticked up 0.3%.
The economic calendar for the coming week features
Canada’s international trade in securities and the
manufacturing survey on Tuesday, Employment Insurance
figures on Wednesday, leading indicators and wholesale
trade Thursday, with Consumer Price Index figures
rolling in on Friday.
In the States, Tuesday is a crowded day with housing and
building permits unveiled, along with the Producer Price
Index (measuring wholesale inflation) and industrial
production. On Thursday, look for leading indicators
from the U.S. and weekly initial jobless claims.
Among small-cap issues we spotlighted this week,
PharmaGap Inc. (TSX-Venture:GAP) began the week at 18
cents, surged as high as 19 before misfortune set in,
causing the stock to lose 2.5 cents or 13.9%, at 15.5
cents.
Miner AM Gold (TSX-Venture:AMG) fared slightly better,
jumping to a high of 34.5 cents from its original perch
of 30.5 cents, but settling at 32 cents on Friday, for a
weekly gain of 1.5 cents of 4.9%.
American drug company Hana Biosciences Inc. (OTCBB:HNAB)
dipped a penny to 14 cents, or 6.7%, after leaping as
high as 16.35 cents intraday, while rival Intellect
Neurosciences Inc. (OTCBB:ILNS) eked out a gain of
one-10th of a cent or 4.1% to 2.55 cents, this after
peaking at 3.1 cents during the week.
If you’d invested in all four stocks and held to the end
of the week, you’d have experienced an average loss of
2.9%, largely the same declines as seen by the broader
markets. However, if you’d sold each at its peak, you’d
have seen a gain of 13.6% on average.
Next week, look for great things from Canadian miner
Adriana Resources Inc. (TSX-Venture:ADI) and financial
services up-and-comer Dacha Capital Inc.
(TSX-Venture:DAC). In the U.S., energy company Genoil
Inc. (OTCBB:GNOLF) looks promising, as does tech whiz
Beacon Enterprise Solutions Group Inc. (OTCBB:BEAC).
AllPennyStocks.com will be exhibiting at the Toronto
MoneyShow later in October for all interested investors.
Don’t miss out on The World MoneyShow Toronto 2010,
October 20-22, at the Metro Toronto Convention Centre,
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Lastly, we have been receiving requests to add more
technical insight into the video charts that we prepare
each week. The old format discussed support and
reistance levels and possible future price movements.
With the feedback received, we have prepared a new video
chart format, which we believe has a lot more focus and
is much more detailed. The new format discusses various
technical analysis patterns, if any are visible. It
discusses many of the most well known technical
indicators such as the MACD, RSI, ADX and many more and
interprets the significance of each of these indicators
and what they are showing for each highlighted Company.
The new format discusses support and reistance levels
and is more focused on educating investors about
technical analysis through real world examples. We feel
that the new format is much more in depth and
educational and we encourage our investors to check out
the new video charts prepared this previous week for
V.GAP and
HNAB as examples of the new format, and as always,
we welcome all input into this and any other content you
see on AllPennyStocks.com or in this email newsletter.
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Forward Looking Statements
This report includes forward-looking statements that reflect the mentioned companies current expectations about its future results, performance, prospects and opportunities. the mentioned companies has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause the mentioned companies actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.
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