I’m sure if any of you are regular chart watchers like myself, Clearly Canadian’s (OTCBB: CCBEF) chart yesterday may have raised an eyebrow. The stock opened at $3.25 and traded just ridiculously huge volume right off the bat. In fact, some folks may have thought the 5.07 million shares that transacted yesterday had to be a data error….CCBEF’s average volume is closer to about 100,000 shares a day.

So what’s up? Was it an error? I don’t think so. The number of shares tells me it was an institutional level transaction. We discussed at great length the acquisition efforts Clearly Canadian has been making of late, most of which involved stock to at least some degree. We also know James Dines has left the board recently…maybe he was taking his shares with him (though I thought he had less than that).

Either way, we’re really not that concerned. If the float was just diluted, it didn’t seem to matter - the stock closed higher….it just got off to a wild start. If instead it was a major seller, again it doesn’t matter…the stock ended up closing higher anyway. Or, perhaps it was a buyer….that was a very strong open.

I’ll try and find out what exactly happened. In the meantime, I’m not worried about it, and I don’t think you necessarily have to be worried either. In fact, I’m guessing we’ll see more days like this ahead, resulting from a handful of recent financing and acquisition deals.

Anybody out there have a credit card with a $40 million line? I think the average individual would need a five-digit FICO score to be ‘pre-approved’ for a credit line that big. However, Phinder Technologies (OTCBB: PHDT) just let us know they’ve got that amount in credit through Londesborough Finance, LTD.

Just to clarify, this isn’t the same as the $10 million in credit insurance the company secured a few weeks ago. That deal allowed the company to issue up to $10 million worth of customer billing at a time. The $40 million letter of credit is outright borrowing ability. This will give Phinder the flexibility they need to keep the ball rolling without needing to issue stock or secure smaller, interim loans.

Considering the company is expecting to do $2.5 million per month by the end of Q2, I’d say the $40 million line is more than sufficient to keep them in business.

For more on the news, click here. In the meantime, something kind of struck me after I heard this………

How does a company that’s probably going to report about $10 million in revenues for 2006 get a $40 million credit line just a few days after they got credit insurance worth up to $10 million at a time? 

The answer? Business credit really isn’t all that different than personal credit. The limit and the terms are determined by your credit-worthiness (or the risk you pose to the lender). The lower the perceived risk, the higher the credit limit.

Now, what does a $40 million credit line for a $10 million company tell you? It tells me the lender has a significant amount of faith in Phinder’s viability. Perhaps PHDT is considerably more solid than we even first imagined. Just food for thought.

You can always tell the quality of a company by the kind of people they attract - good quality companies attract good quality people. In terms of spotting solid investment opportunities, maybe you could consider it reverse-association….look for stocks of companies that the industry’s top people think highly of.

With that premise in mind, I think MIV Therapeutics (OTCBB: MIVT) was paid a nice complement yesterday. Dr. Daljeet Singh Gambhir, Director of Cardiology and Chief Executive Officer of the Kailash Heart Institute is now a clinical advisor to MIVT-India.

This is a pretty big deal for a couple of reasons. MIV’s stents are already approved and being sold on some international markets. But, this sends a loud message to the medial community….MIV is going full throttle with continued development of these biocompatible stents in an effort to get them approved in other regions.

Second, to bring in someone of Gambhir’s caliber speaks very highly of the technology. Why is he such a meaningful addition? He’s done 10,000 angioplasties over the past 25 years. He also established the facility for Radiation Therapy for the treatment of coronary restenosis at the G.B. Pant Hospital in New Delhi. In other words, the guy knows his way around a human heart. When he wants to get involved with MIV’s stent technology at a time when many other doctors are looking for stent alternatives is significant. What is it that he sees exactly? I have to think it’s an encouraging sign.

I’m still stunned you can own shares at 61 cents. And yes, I still think they’re a big bargain. People, this is a billion dollar business MIV is getting into, and with JNJ pulling one of their biocompatible stent attempts off the drawing board, I just see MIV’s competitive advantage building and building.

In fact, revenues are already being generated on some fronts. I feel it’s only a matter of time before the payoff comes. However, I also think it could be big when it hits.

For more, click here.

After we scored big in Commerce Planet (OTCBB: CPNE) last year, we were elated - needless to say. Though the stock has officially fallen off of our coverage list since then, we’ve continued to monitor CPNE…..just in case the buyers wanted to make a go of it again. So far though, we really haven’t been inclined to go back to the well.

It’s a point I wanted to (re)make today in light of this question we received via e-mail a few moments ago. Figuring we could all benefit from the discussion, I think it would be best to answer it here in the blog. Mark writes…..

I’d be interested in your take on one of your former picks and highest flyers - Commerce Planet. Quarterly sales & earnings growth were both phenomenal and yet the stock is slumping big-time. I can’t quite understand this one. Any thoughts from your end. Future still appears bright for the company. Very puzzling!

Puzzling indeed, but not surprising. The company is doing well, but the stock isn’t. I think it really is that simple, though perhaps a little incomplete. This scenario is a textbook reason why I wrote one of our recent Market Wise columns ‘Never Confuse a Company With Its Stock’. I’m not going to rehash it here, as the article explains precisely why the stock is not behaving as it should.

In the meantime, here’s my take on the technicals, which may help you figure out when (or if) CPNE shares are going to be able to start moving in tandem with the company’s results.

The purple line is a 50 day moving average. It’s been acting as resistance of late, pushing the stock lower each time it was challenged. The green line is a 200 day moving average. It made an attempt to act as support, salvaging what was left of 2006’s run. But, it finally crumbled a few days ago. This is a simple yet meaningful sign of bearish momentum.

On the other hand, not all hope is lost. The blue lines are Fibonacci lines, one of which may still be hold up as a floor. The 61.8% retracement level at $1.43 is still intact, and in fact appears to have halted the decline - at least for the time being. If it breaks too, it could spark another wave of selling.

(Just FYI, the lower edge of the Fibonacci line range was based on the stock’s multi-year low around 16 cents, hit in late 2005.)

One of the managing members of TGR Group, LLC has purchased 10,000 shares of CPNE in the open market with a average cost basis of $1.47

Though our coverage of Challenger Powerboats (OTCBB: CPWB) is getting a little long in the tooth, we’ve continued to monitor the company’s rebuilding progress….it just seemed like such a compelling turn-around story.

According to today’s quarterly numbers, we may be right. In Q1 of 2007, the company did $1.6 million in sales versus only $758K in sales during Q1 of 2006. That’s a pretty nice 110% increase. It gets even better though (I think). The 6.8 cent per-share loss from last year was whittled down to a 4 cent loss per-share this time around.

On the flipside, what I don’t get is where all those IMAR sales went. The attractive part of January’s IMAR acquisition was that IMAR had done $12 million in sales the previous year, which had the potential to provide some cash flow and flexibility for the combined company (which Challenger alone was struggling to do). At their current annualized run rate, looks like they’re on track to do a little over $6 million this year. Where’d the rest of last year’s dollars go?

One thing I do know that may be a small factor in that discussion is seasonality. Q1 is not the heavy season - I think the spring and summer months are stronger for the industry. How much stronger I’m not sure, but I have doubts about it being firm enough to keep the merged companies doing $12 million between them. Maybe I underestimate the strong season.

In any case, this is a step in the right general direction. Let’s see if they can keep the growth pace up….they’ve got some $12 million shoes to fill, and I’m still skeptical based on these numbers.

For more on the quarterly results, click here.

If it was your understanding Orchestra Therapeutics’ (OTCBB: OCHT) - formerly known as Immune Response - HIV drug was being dropped in the middle of its trials, you weren’t alone…..that’s what I inferred from the news they released back on April 4th. Here’s the clip straight from the press release:

The transition to the new name coincides with the Company’s decision to terminate the HIV clinical trials to fully focus the weight of the Company’s resources on the autoimmune program. The 52-week data from the first large cohort of HIV clinical-trial participants have already been gathered, and analysis of the data will be completed and disclosed in the second quarter of 2007. Based on this data, the Company will consider strategic alternatives for the HIV program.

Additionally the Company has decided to scale back operations at its manufacturing facility in King of Prussia, Pennsylvania, effective immediately. This decision will reduce costs by approximately $3 million per year, while allowing the Company to maintain the facility pending strategic decisions about the HIV program.

Maybe I missed something, but that seems pretty clear and fairly decisive. However (as it happens sometimes), questions, rumors, and whispers all lingered a little too long to just ignore. In this case, the idea has surfaced that their HIV treatment - called IR103 - is actually not being dropped.

I, not being a big fan of uncertainty, did the obvious - I asked the company what the deal was. Here’s ‘the deal’ according to one of the key upper management team members…… They won’t have the data on the first group of patients from the 52-week trial until it’s completed in June. At that time, they’ll have some analyzing to do, but they expect to have concrete data by late June. Their plan is to ‘let the data speak for itself’…..whatever that means. (I asked for further clarification about IR103’s future, but didn’t get more than what you just read.)

Is it me, or is the trial still going in despite what April’s press release said? To say it’s “a bit at odds” would be an understatement, wouldn’t you agree?

At this point, I don’t know what to think. I know they just announced another round of financing a few months earlier than they said they would need to. I also know what the press release said then versus what other company heads are saying now.

I’m one of the most patient people I know, but this is getting pretty frustrating - well past the point of steering clear of the stock unless they can answer some questions in a meaningful way. I don’t have a warm fuzzy here…..just too much inconsistency for me, and has been for a while.

Anybody have any other thoughts or insight?

It’s amazing what you can learn about an industry when you immerse yourself in the emergence of one of its companies. Take today’s news from Phinder Technologies (OTCBB: PHDT) for example. We just learned Blue Peering has integrated with Phinder’s VOIP network, and will be able to rate, route, and resell Phinder’s services.

I had no idea what that meant either, so I asked. Here’s what the press release meant for all of us…..

Blue Peering is a platform where carriers and/or long-distance providers go to actually purchase the minutes needed to service their customers. The system allows the buyers to ’shop’ according to price, termination location, quality, etc. Whoever is providing the right service at the right price (like Phinder, or other sellers) is chosen. Of course, they then get paid by the long-distance company, who then turn around and mark up those minutes for their own customers. In other words, Blue Peering is a middle-man….an auction, in a sense.

This is a big deal for Phinder because it puts them into the mix with any other service providers also available through the Blue Peering platform. Ideally, Phinder will be able to beat the other sellers at least in terms of service quality or price. Based on what we know about VOIP and Phinder’s cost structure though, we don’t think that’ll be a problem.

It’ll be interesting to see just how much business flows to Phinder through Blue Peering, but I suspect it will be significant. 

Click here for more. 

If you ever seen any of the ‘Rocky’ movies, then you know what I’m talking about. It doesn’t even matter which one you’ve seen, since the plot line is pretty much the same in all of them…an underdog becomes a contender. Just when things look like they’re taking a turn for the worst, Rocky gets off the mat and comes out slugging his way to the title.

For some reason I couldn’t get that goofy analogy out of my head while I’ve been watching CEL-SCI’s (AMEX: CVM) chart over the last few days. I was elated when CVM closed at 96 cents on the 8th, let down when shares fell back to 82 cents on the 10th, and then excited again to see the stock back up to 87 cents yesterday…..a rally made on pretty strong volume. You may have even noticed the stock was up as high as 98 cents in after-hours trading.

Exciting? You bet, but also encouraging. CEL-SCI refuses to go yield. Frankly, I don’t know what was going on over the last week. Maybe a big institution was trying to figure out what they thought of CEL-SCI. Or, maybe it’s just the result of tons of retail investors being pulled between extreme levels of fear and greed. Maybe it was neither.

Whatever it was, CEL-SCI is still slugging, and I like that. Let’s see if we can now get and stay above the 90 cent line.

Don’t forget, everyone’s invited to listen in on Stockgroup’s (OTCBB: SWEB) Q1 conference call at 4:05 PM EST on Monday, May 14th. They’ll actually announce results about an hour before that. Still, we know from the Q4 call that there’s a considerable amount of important information you can only get by participating in the call.

To join the call, dial 1-866-400-2280 a few minutes before the start time. If you’re more of a web-based investor, you can join the online webcast following the instructions available at the company’s website, stockgroup.com. Windows Media Player is required to access the online version.

For more, click here.

Remember the purchase we mentioned Titan Global (OTCBB: TTGL) was making several months ago? It’s now a done deal - no surprises.

Back in February, we learned how the acquisition was expected to add a few million to Titan’s top line. In fact, in 2006, the Ready Mobile enterprise did $9 million in sales. Since then, the annual run rate has been upped to $12 million. Will that really impact Titan’s communication division? Try this on for size….Titan’s communications division did $89.3 million last year, and is expected to do between $120 and $140 million this year. So, we’re looking at about a 10% improvement thanks to Ready Mobile - enough to be impressive….and worth it.

The neat part about this union is what each side brings to the table - Ready Mobile is great at attracting subscribers, while Titan has an enormous distribution network. The two talents combined foster a win/win scenario. 

Just so you know, Titan plans on further expansion this year via the same means - the purchase of comparable enterprises. The successful completion of the Ready Mobile business is likely to have paved the way for more acquisitions in the near future.

For more on the purchase, click here.

I’m not a bit surprised to see it. In the blink of an eye, Titan Global (OTCBB: TTGL) is back in the hunt….meaning the stock is on the rise again, and back into the trading range it got pretty comfortable with during the first four months of the year.

The last price I saw was $1.26, which is much better than the low of 95 cents we saw less than two weeks ago. Perhaps more importantly though, the move pushes TTGL back above the support line….the line that didn’t act as support when we fell back to 95 cents. Given the choice, I’d rather not have to make a side trip like this, but I think this is an encouraging sign - especially when there’s a little volume behind effort.

I see $1.40 as the next big milestone. Though we’ve actually traded as high as $1.49 within the last two months, it was the $1.40 area that seemed to constantly cap each surge since January. If we get above that line, I feel this stock’s burden may ease a bit.

The catalyst? We covered it in yesterday’s newsletter….the company plans on buying back up to 4 million shares. That’s a nice chunk of the 50 or so million currently I&O.

In part of our quest to be a haven for ‘all things small cap’, here’s a look at the most recent increases in trading activity among OTC Bulletin Board stocks. You wouldn’t have heard of these names before - at least not from us. But, we still think they deserved a little discussion….if only to satisfy our curiosity.

China Direct Inc. (OTCBB: CHND) saw more than half of a million shares trade on Wednesday, May 9th, on news of first quarter results and guidance. Q1 revenues increased to $30.9 million from $206,000 the same quarter a year earlier. Quarterly per-share earnings came in at 14 cents. Three key acquisitions within the last twelve months were the primary reason for the boon, but they appear to be successful acquisitions - Q1’s gross profit came in at $3.4 million, while net income totaled up to $1.8 million. Projected 2007 sales have been raised from $100 million to $120 million.

Average volume for CHND over the last three months is less than 30,000 shares per day. The stock closed at $3.50 on Wednesday, well above Tuesday’s close of $2.91.

Timberline Resources (OTCBB: TBLC) has gained 32% since the end of April, on slightly better than average volume. Since being listed on the bulletin board exchange on July 11th of last year, shares have moved from 75 cents to Wednesday’s closing price of $3.17 - a 322% improvement.

The company is self-described as “a unique, growth-oriented company that combines positive cash flow from its ownership of Kettle Drilling, Inc. with the “blue sky'’ upside of its experienced mineral exploration team.” In simple terms, Timberline is a mining and mineral exploration play, though the company doesn’t pose the risks inherent to operating mines, nor do they solely rely on higher-risk speculative drilling.

MSGI Security Solutions (OTCBB: MSGI) has surged on heavy volume over the last few days. After closing at $1.24 on April 26th, Wednesday’s close of $2.74 translates into a 120% gain in less than two weeks. The rally puts MSGI at 10-month highs.

The catalyst? There appears to be none - at least not one that coincides well with the beginning if the run-up. MSGI was listed on the OTCBB exchange on April 19th…six days before the surge began. Perhaps there was a leak in the news of a major contract, which didn’t become officially public until today. MSGI inked a deal with Apro Media that should lead to no less than $105 million in contracting revenue over the next seven years. That works out to be a minimum average $15 million per year. MSGI has done less than a million in sales each of the most recent prior three years, which may well explain the new-found buying interest.

Do any of you guys (or gals) own these tocks? If so, what’s the scoop? If not, what do you think about them?

Talk about a double meaning! I have to say, from my point view, Stockgroup Information Systems (OTCBB: SWEB) looks just plain ‘good for investors’……its own shareholders, as well as any individual investors utilizing their services. Why? Their expansion plans are being realized at a very impressive pace. Today’s acquisition adds yet another feature that should broaden their appeal to the average retail (little guy) investor.

Remember a few weeks ago we were highlighting how the acquisition of TeleCommunication System’s Mobile Finance Division was going to open up a world of opportunity for institutional-level business? In a nutshell, the advent of Internet-capable mobile devices like BlackBerry’s and Treo’s has by default created a new industry - the delivery of financial and investment information via those devices.

While very ‘Star Trekkish’, it’s can also be a little expensive to get that robust data delivered to a hand-held device. Thus, it’s mostly feasible for the institutions - who could justify one to two hundred bucks a month per user for the service. The good news for Stockgroup is there are plenty of these upper-level customers…..the Mobile Finance enterprise was doing about $6 million per year- profitably - when Stockgroup bought it.

Well, Stockgroup just brought a retail investor version of the same kind product into the mix, with some retail investor subscribers already in tow. Specifically, Stockgroup today announced the acquisition of Semotus Solutions’ (AMEX: DLK) financial wireless data assets. And when we say ‘bought’, we mean they now own the whole kit and caboodle….current accounts, software code, and intellectual rights.

The software applications developed by Semotus essentially perform the same function as the institutional version - getting financial and investment information to and from the hand-held devices owned by the non-institutional player. The key difference between Mobile Finance’s version and the Semotus version is the amount of data transfer required. The Semotus version isn’t a ’streaming’ application, and therefore doesn’t eat up bandwidth…which means it’s extremely affordable for any investor.

We see this as a major coup for the company. Revenue will be realized immediately, and, we can’t imagine better hands for the Semotus application to be in. Stockgroup was founded on the idea of catering to the average retail investor. Plus, you don’t need me to tell you what kind of growth the hand-held device industry has already seen….or is likely to see in the future (industry analysts expect the pace of hand-held sales to increase in the foreseeable future). If anybody can take this ball and run with it, I think Stockgroup can.

More than that, I think the gettin’ may be really good right now. After hitting $1.45 in early April, Tuesday’s close of $1.15 may be an uncanny bargain. Of course, we also saw a huge rebound once we hit a low of 99 cents, so we doubt we’re the only ones thinking that way. Point being, we don’t know how long the market’s going to let these low entry levels persist. If you’re a fan of the company’s stock, it may be time to accumulate.

For more on the acquisition, click here.

If you were still biding your time on any entry of Stockgroup Information Systems (OTCBB: SWEB), you may want to take a look at today’s chart. After a lethargic/bearish last four weeks or so, we may have finally hit a bottom (i.e. bargain hunters should probably keep reading).

What caught my eye was the trading pattern made today. The stock started high, with an open of $1.18. Then, the plunge probably scared the Nervous-Nellies who were itching to sell anyway, driving the stock down to a low of 99 cents. But look what’s happened since then….SWEB is back up to $1.14.

That sort of wild intra-day swing is called a doji - a dragonfly doji, to be specific. You may know it by a different name, but the pattern still means the same……it’s a long-tailed pattern often hinting of a reversal. In this case, the strong downtrend may have just flushed all the remaining sellers out, leaving only the buyers behind.

Not that candlestick interpretation is a perfect art, but I think this particular bar is worth noting….and it will be especially exciting to see a little upside follow-through tomorrow. Just something to be aware of if you’re looking for a lower-risk entry point.

Oh, and did I mention the low pretty much tagged the 61.8% retracement level?

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This has nothing to do with any of our profiled small companies or other trading ideas (as found in the Trader’s Corner or elsewhere). However, I still found myself curiously intrigued about the idea….and I think you will be too.

While poking around a bulletin board stock information site a few moments ago, I came across a list of the companies that had recently graduated from the bulletin board and moved on to an exchange listing. Considering that’s basically the direction everyone would like to see their BB stocks head, I’m sure we’re all at least a little curious about some of the names making the leap. Well, here are the ones that caught my eye.

• Synutra International (NASDAQ: SYUT) moved to a NASDAQ listing on April 12th. They’ve got a market cap of more than $600 million, and some pretty respectable fundamentals. They’re a US incorporated company that wholly owns and operates six subsidiaries in China, all engaged in different stages of production, distribution and sales of dairy based infant formulas and other nutritional products. The stock looked like it was working on a breakout, but volume is still very much on the low side of things.
• Protection One (NASDAQ: PONE) moved to the NASDAQ on April 2nd. Protection One and its subsidiaries provide installation, maintenance and monitoring of electronic security systems and fire systems to more than one million residential (single and multifamily residences) and commercial subscribers. This one’s getting real interesting as the volume is starting to pick up on the buying side of the table.
• Force Protection (NASDAQ: FRPT) moved to a NASDAQ listing on January 18th. If the name rings a bell to some of you Small Cap Network veterans, it’s because we covered it as a bulletin board stock back in 2004/2005. Force Protection, Inc. is the world’s leading manufacturer of ballistic- and blast-protected vehicles, which have been used to support armed forces and security personnel in Iraq, Afghanistan, Kosovo and other hot spots around the globe. And, this stock more than deserves to graduate - it’s up nearly 600% since the time when we were studying it…..proof that there is major upside potential brewing here in the world of bulletin board stocks.

There were plenty of others too…these are just the first ones that got my attention.

One of the things I’m going to try and do more of is study these graduates as the Small Cap Network site truly becomes a network of small-but-growing-stock enthusiasts. Hopefully our current followings will be there soon. Besides, those newly-listed names still qualify as small-caps in my book.

What about you? Any ‘graduation’ success stories you care to share? Or, any thoughts on one of these three companies?

With the close of each recent trading day, I’m feeling better and better about CEL-SCI (AMEX: CVM)….not that I was ever particularly concerned following the news from a few weeks ago. Once they went into Phase III trials with Multikine, I just had a hunch the market would start to take notice.

The beneficiary of that reaction - for those who took the advice - was our readers. We renewed our bullish opinion back on January 16th, when shares were trading at 60 cents. Assuming you got a less-than-great fill of the close of 70 cents that day, you’re still up 35%.

Even if you were on the sidelines though, I still like the upside that may be in store. The resistance at 90 cents I’ve been eyeing for weeks finally looks to be broken. And better yet, the volume is getting stronger and stronger. The next milestone I see is 97 cents, though it’s only a minor one in my view. Yes, I think this might be the beginning of the payoff for those folks who stuck it out.

By the way, if we get a good start (and I think we will), we’re likely to yank that $1.48 target…it just doesn’t seem like enough in light of everything. We’ll look at that more closely when the time comes.

As much as I like the company and the potential I’m sure it has, I have to admit I’m not exactly in thrills-ville with Clearly Canadian’s (OTCBB: CCBEF) chart right now. HOWEVER, there are still a few things I like that are at least encouraging enough to keep my interest.

Specifically, though we fell under the bottom side of the wedge I discussed a few days ago, look where we ended up making today’s low. Does $2.40 ring a bell? It should - that’s where we bottomed on March 14th, March 16th, April 18th, and now, May 7th. Coincidence? If it is, it’s a whopper. I really think someone (or many someones) drew a line in the sand there.

I’m hoping that pseudo-floor buys enough time for the company to finish up some of their current projects they’re working on…..primarily the acquisition of some other ‘good for you’ enterprises, and placements in more big-box retailers. Once the news gets out and the market understands the scope of Clearly Canadian’s growth mission, I feel the stock’s got a much better shot at perking up. In the meantime, the race is on.

Did anybody else catch this morning’s news about Johnson & Johnson (NYSE: JNJ)? One of the company’s drug-coated heart stents - currently in the experimental stage - was determined to not be worth further development. Not only is the company dropping the trials of the drug-coated stent, but they’re also discontinuing sales of this CoStar stent, even in countries where it’s been approved.

The company has another drug-coated stent already on the market, and says they intend to use that coating to develop a new version of the stent being dropped from R&D. However, it seems as if that’s a ‘back to square one’ move.

So what? This may be a boon for MIV Therapeutics (OTCBB: MIVT) and its drug-coated stent. MIV’s stents have already tested to be durable as well as safe…as is the primary intent of this second-generation stent technology. Now, there seems to be one less competitor in the lucrative stent market (about a $6 billion market annually).

Even if MIV only gets a fraction of the business J&J had (or was going to get), we’re still talking multi-millions here. Click here for the full background on MIV’s opportunity, which may have just gotten a whole lot bigger.

And yes, I think this is yet one more reason to own MIVT shares. I like the way the stock has remained scrappy, finding support at the 20 day average line and continuing to push higher. The next milestone I see is the 74 cent mark, where we topped in January and February. A move past that level would be a new multi-month high, and could finally spark the buying interest I feel is due here.

Well, with one full trading day completed following Titan Global’s (OTCBB: TTGL) big pullback, I’ve got this much of an opinion……the glass is half empty AND half full.

It’s half full in the sense that a big rebound closed a lot of the distance between Tuesday’s close and Thursday’s close. TTGL ended Tuesday at $1.19, then slid 10.9% lower to end Thursday at $1.06 (though it had been as low as 95 cents on Thursday).  Now we’re at $1.14, thanks to Friday’s 7%+ bounce….and only 4.2% lower than Tuesday’s close. That counts for a little in my book.

The glass is half empty though, in terms of volume. Thursday’s volume was huge at 265,000 shares - most all of it from the selling side of the table. Friday’s volume, despite the decent gain, is probably going to be less than 15,000 shares. It’s going to take more than that to revive this one.

Don’t count it out yet though….I’m not. I’m just not going to expect much until we got a lot more buyers back in the game.

And just as a reminder, the reason my interest hasn’t been shaken in the least is the big refunds Titan may be due. If they get them (and it appears as if they will, for reasons discussed in recent commentary), this company could end up being debt free and buy-out a cumbersome capitalization structure. How much money are we talking about? Some of the figures being batted around are larger than TTGL’s current market cap. I remain amazed that nobody else has caught onto that yet. I never assume anything until a check is written, but the possibility is just too big for me to ignore. 

Just in case some of you only have the blog bookmarked (or only get the RSS feed), there’s a new ‘Market Wise’ article now posted on the home page. Written by yours truly, it’s sort of a reality check for traders. Take a look and see what you think.

By the way, if there are any topics you’d like discussed in those four columns you’ll exclusively find on our home page, feel free to let us know via e-mail. That link is below.