Volume is everything.
We’ve said it before. It’s worth repeating.
July 2004 $volume on the OTCBB was lower than August 2003.
Anyone want to wager that August 2004 is even lower?
Pennyheaven Super 7 Index closed the week +15% YTD, our
lowest level since the first week of January.
We’ve been in a decline since peaking at 98% in April.
The rest of the market peaked a month earlier. As a general
rule we peak later and we correct later. Most people who play
penny stocks are speculators. They arrive only when times
are good and cash is loose. Now you know why taking
profits is so important.
Speaking of Super 7
Janel World Trade JLWT (.65) announced the highest grossing
quarter in the company’s 28-year history and they’re down almost
30% YTD. Go figure.
Reverse splits on the BB are very common and occur almost daily.
Forward splits are less common and sometimes worthy of mention.
AirRover Wi-Fi Corp AVWF (.55) announced a 4-1 forward split
with a record date of September 7, 2004.
IceWeb, Inc ICEW (.48) announced a 10-1 forward split with a
record date of September 30, 2004
(Please note: This stock is up ~ 50% in the past week. It could fall
again before splitting. Use patience.)
Revenues and Earnings
Communicate.com CMNN (.26) reported record revenues and
earnings for the Second Quarter 2004
Stockgroup Information Systems SWEB (.285) announced its 6th
consecutive quarterly increase in revenues and the addition of
Mr. Patrick Spain to the Board of Directors
Mr. Spain is the Chairman and CEO of Highbeam Research, LLC. which
operates an online research engine for individuals. He is also the cofounder
and former Chairman and CEO of Hoover’s, Inc. a leading online provider of
company information headquartered in Austin, Texas. He helped found
Hoover’s (then known as The Reference Press) in 1990, serving as its CEO
from 1993 to 2001 and chairman from 1994 to 2002. During his tenure Mr.
Spain led Hoover’s from an unprofitable private book publishing company
with a few hundred thousand dollars of revenue to a publicly traded
profitable media and business Information Company. Hoovers was bought
by Dun & Bradstreet in March 2003 for US$119 million.
VFinance VFIN (.19) announced its 5th consecutive profitable quarter
and quarterly net income that was 100% greater than the same period last year.
VFIN is down over 50% from its 52-week high.
Wireless Age Communications WLSA (.97) hit a new 52-week low last
week. They recently announced revenues and earnings almost 100%
greater than the same period last year. Go figure.
I’ll keep you posted.
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