As you can see, this is a mega penny stock, selling for a quarter of a penny on the pink sheets. It is a title insurance and internet technology holding company out of Florida with a 2.5 million dollar market cap. The MACD is pretty bearish, representing a negative follow through which may forecast a short term decline in the share price. What is more important to me, however, is the imminent 50 day MA/200 day MA bullish crossover. If we see a solid crossover with fairly sharp upward trajectory, this penny stock could easily double, triple, etc. in value. I don't advise investing in this company whatsoever, but it will be interesting to see what happens, especially if we get a solid 50/200 day MA crossover. Look for strong volume to really propel this stock.
For the Macro: Markets were up big today on a plan out of Europe last night. There are worries that it will be difficult to implement the plan. Some people also think the plan is not sufficient to address Europe's woes. Other people are more optimistic and think the plan will give Europe enough time to avoid a Lehman-like collapse, even if Greece defaults, by putting in crucial firewall and buffers into the system.
For now, it's Halloween at UCLA and I need to get my costume on. Have a good one everyone!
Cheers,
EZ
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