North Springs Resources Corp. NSRS
NSRS gapped up yesterday morning, ran out of the gate, and then pulled back before finishing the day on a strong note. Considering how much activity is running through this stock, we would not be at all surprised to see some profit taking at this juncture.
There is still some promotional backing behind this play. We are used to seeing plays with this much juice behind them enjoy several days worth of gains,but need to remain cautious as eager sellers are clouding the picture somewhat. Yesterday the stock found support at .285, however we feel that things could get a little dicey if that support level is not maintained.
On the flip side, we are hoping that NSRS fares well for at least one more day, we will be waiting to see if another strong push is in the cards for this afternoon.
There was also a press release from the company yesterday:
LAS VEGAS, NEVADA, Dec 28, 2011 (MARKETWIRE via COMTEX) — North Springs Resources Corporation (OTCBB: NSRS)(PINKSHEETS: NSRS) (the “Company” or “North Springs”) is pleased to outline the proposed exploration work program for the North Springs Gold Property located in prestigious Mineral Ridge Mining District of Nevada. The recommended $500,000 work program will focus on several untested gold targets that include disseminated mineralization, high-grade shear zones, and feeder veins similar to those that have been open-pit mined by several companies at other Mineral Ridge gold deposits in the area.
Fero Industries, Inc FROI
FROI hit a low of .0082 on Friday, only to come back to close at .012, for an intraday gain of 42%, and bringing our two day gain total to more than 70% on this hot nutraceutical stock.
Let’s also keep in mind that FROI has a lot going on with Sucanon, having just made arrangements to distribute the product throughout the Middle East. Sucanon is one of just three insulin sensitizing treatments for patients suffering from Type-2 Diabetes worldwide.
American Apparel, Inc. APP
APP pushed past the resistance at .75 prior to the holiday weekend, setting the table for an interesting start to this short week.
It appears as if the new level of resistance will come at the .80 mark, which marks a again of 54% from the level of our initial alert.
LOS ANGELES and LONDON, Dec. 27, 2011 /PRNewswire via COMTEX/ — American Apparel (Amex: APP), the vertically integrated clothing manufacturer based in downtown Los Angeles, has announced the opening of a new store in Westfield London. This new store opening is part of American Apparel’s recent expansion in the UK, which in addition to two Selfridges store-in-stores opened earlier this month brings the company’s total store base to 18.
BioSante Pharmaceuticals, Inc. BPAX
BPAX is beginning to come off of its bottom much like APP managed to do the week before last, and we feel that this play could take a similar path.
We saw a modest 7% gain on Friday, thus are hoping to see a carryover of that bit of momentum into this week.