Thursday, February 24, 2011
Fridays Stocks To Watch - PGPM, CTCC, HLXW, BYSD
PGPM anything that deals with oil is getting a push and rightfully so. You are hearing all sorts of talk in the media, some "experts" stating $200 oil is coming by Memorial Day. If your going to be paying that much to fill up your car, your going to be needing a lot more money. What better way to capitalize on the growing price of oil than trading some oil penny stocks, as they have become the latest rage in this market. The torch has been passed from the gold stocks to the oil stocks. PGPM burst higher today at around noon and held on to most of its gains in a volatile session. Tomorrow should decide the longer term fate of this stock. If it continues its climb we could have a real monster on our hands. If it slowly bubbles back into the earth, well then we better find a better way to make up for these higher gas prices.
CTCC just great volume the last few sessions and it appears at least a few investors are starting to catch onto this wonderful turnaround story. The recent positive company releases coupled with the low tradeable float makes this a stock to watch in 2011.
HLXW this stock remains a great lotto play as the shares are currently maxed out, meaning the company has no further room to dilute. As long as the share structure remains stable this stock could be in for a nice counter trend rally.
BYSD another oil stock. As with most pennies it isn't about what the company does or does not do, its about what traders want to buy on a particular day and/or over a particular period of time. Right now anything that says oil, petroleum, etc is being bought and until oil takes a breather I think these types of stocks are a good place to make a quick buck. BYSD burst higher late in the session before pulling back a few ticks. Let's see if its got more gas in the tank for tomorrows session.