10K Challenge Commentary:
PUBM: An opportunity might exists for those in already or those not yet in, but looking for a starter position. Friday a spread opened up laving bid @ .11 and the ask @ .17. From watching the tape, it would seem as though the large transactions ($15K orders to buy / sell) have been taking place between 15- 17. This appears to be where the 'fund raising' is taking place and where 'institutions' and/or those making a big dollar commitment have been most interested. When big money buy, they tend to not be flippers and typically will not buy at 16 to sell at 11 or 12...They buy and hold. Retialers on the other hand get frighted by spreads like that and bow out...like last week when a spread opened on WRGL and someone got frighted out of their shares hitting the bid at .017...only to watch it close at .029 by week's end. So, with the current spread and the desire of MM's to see if the bid is real, a $200- $1000 order on that bid might provide some good returns in short order. Also, if it looks like the ask will be coming down and pose the risk of 'fund raising' to have to take place at lower levels, this may pose a set-back to the pace of growth for the company, thus look for their newly installed IR component to start going active and get pps back up there while the company works on deploying their new machines.
USFM: This is one play that looks like it's needing a catalyst...it may, but don't let any stagnation fool ya. It gets going really quickly and move really well when it does get started...as we saw with the 150% gain just after my throwing that one in the ring as a 'challenge play'. Now, last week as interesting...one day in particular. Someone bought approx. 600K shares. That kind of purchase in that kind of play often means 1 or 2 things: Someone knows something is up and is getting in now or someone's watching L2, knows this is a low-floater and plans on running it soon. Just my own interpretation of 'unusual volume'
WRGL- This one continues to perform consistently and stellarly. Slow, but steady ramps up. In fact, I'll be looking for one last 'ask slap' before going into bid-sitting mode here in the week ahead. The spreads on that one scare folks and IMO, is the reason we haven't seen more volume thee yet. You almost have to throw L2 out the window on that one if trying to decide whether or not to take a position. The bid and the ask show a 'false picture' of the support and walls. It looks like bid-support is lacking, but some orders just don't show up on L2, so that week bid is really not as weak as it looks. L2 was showing .021 all day, yet fills on the bid were at .025 and my .0125 order on the bid never showed and never got filled. 3's should be 'in vogue' for the week ahead if my spidey senses are correct'
WRGL....here's something 'interesting' I am watching as well: As of their May 31st Quarterly filing, they own over $1mil worth of Riverdale Capital Ltd. now I don't know what Riverdale does and what to expect there, but I do see that it was up 130% on Friday: RICP
No comment on MMTC at the moment...lol. That one seems to have way more shares in it than I was aware. Let's see if we get a promo-add on there.
