Good Penny Stocks for Thursday 6-4-09

Posted on June 3, 2009 by Penny Stocks Picker

Here are a few good penny stocks to watch Thursday. If you see any good penny stocks, please feel free to post a comment or add a topic in the penny stock forum.

BZCN @ .0048 (Volume and price breakout. Looking to see this break above .005. Breakout chatter on the IHUB board and at the #3 spot tonight.)

ISOO @ .005 (Nice move today off what looks like ~.002 bottom. I’ll be looking for increased buying volume to confirm new interest.)

MGLG@ .0004 (Over 1 billion shares traded today. Hmmmm..not much movement but maybe we something soon? Still lots of chatter.)

SPNG @ .0564 (Decent volume. Broke the .055 resistance…..nice looking chart! Lots of chatter.)

GRDO @ .0013 (Broke above .0010 resistance. Chart looks like it may be getting ready for a move.)

ELRA @ .515 (Price and Volume Breakout, tool out the .50 resistance which should of course now be support….for the moment.)

EESO@ .0036 (Potential Dead Cat Bounce Play: Big price drop today (-40%) on huge selling volume. Steep drop from about .015 over the last 6 trading days and a gap down on 5-27-09 around .014 that migh get refilled. I’d say everyone is giving up on this one and running for the back door…..and maybe they all done leaving for the moment. I’m considering that I may try to sneak in real quick and see if anybody left some cash on the floor…..if not run back out quick.)

FTCH@ .065 (The following information was researched and written by a Forum Member): A lot of the big players at ihub are in on this one including MrBigz and Ichimoku. Just had a video conference and there’s a company plan to buy back shares. They admittedly diluted 13M shares this week in order to pay back debt. Now they have zero debt, have all the capital they need for the rest of the year, and will be buying back shares and reducing the A/S in the future. This weeks dip in share price was because of the new issuance of shares, but have now all been diffused through the market. If this doesn’t run tomorrow, I’d be very surprised. It’s a perfect pincher play. Look at the PPO and ADX pinch accompanied by uptick on TRIX, RSI(2), RSI(5) and Full Sto.

Tags: dead cat bounce, good penny stocks, penny stock