LGBS, MTG, FONR & Extended Watchlist

Legends Business Group, Inc. LGBS

We like the chart on LGBS, another new play that stood out to us today as a good chart-play. The RSI has been holding firm having recently bounced off of the 50-line and getting ready to pass the 50MA overlay. There has been a solid level of support in the .0028 (100DMA) range, The histogram recently flipped up to the bullish side, and the PPO had a bullish crossover. We want to keep an eye on this play this week, as chart conditions are looking pretty ripe.

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MGIC Investment Corp.  MTG

This morning we caught MTG on our scanner, as it is trading up 20% pre-market. Taking a look at the chart, there is a large gap to fill from the beginning of August, when the stock fell from the 2.50 range, on down to .66. Considering the fact that the stock is, today, gapping up past September’s resistance, there is a fair possibility that we could see MTG continue to rally to the two dollar range, where it could fill its gap.

We’ve pointed out the gap on the chart below for your convenience. 

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Fonar Corp. FONR

Also gapping up this morning is FONR, a stock that made a big run earlier this year, trading as low as 1.81 in March, and rocketing to a high of 6.80 in April. The company released some really encouraging news this morning regarding some extremely heightened financials. We want to keep an eye on FONR moving forward as we see how this promising news affects the current momentum.

MELVILLE, NY, Oct 01, 2012 (MARKETWIRE via COMTEX) — FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning(TM), reported today its year-end financial results for the year-ended June 30, 2012. The Company has now had nine straight quarters of profitability. For the 2012 fiscal year as compared to the 2011 fiscal year, the Company made improvements in revenues and profit across both of its operating segments, those being the UPRIGHT(R) MRI segment that includes product sales, service and repair fees, and HMCA, its STAND-UP(R) MRI center management subsidiary. All of these utilize the FONAR UPRIGHT(R) Multi-Position(TM) MRI which is also known as the STAND-UP(R) MRI. >>FULL STORY

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Extended Watchlist:

EGCT, RFMK, GDSM, CWTR, ALVR

Ecologic Transportation, Inc. | EGCT & Extended Watchlist

Ecologic Transportation Inc. EGCT

We’d like to welcome all of our new subscribers today. Those of you who have been with us for awhile, know that we have covered EGCT consistently for a good long while now. We first added it to our radar back on July 16th, and have no plans to cease our coverage any time soon.

This stock has given us tons of opportunities along the way. When we first began covering EGCT, it was trading as low as .30, subsequently running as high as .48. Next it dipped to .22 before turning up and surging back to .46. Again the stock pulled back, this time to .21, before reversing once again and touching .40. This week, EGCT has maintained a higher level of support, not trading any lower than .35, which is now acting as the new support level. Below .35, we seem to have support sitting at .30, and .25 as well.

We have prepared a detailed annotated chart this morning to illustrate some of the key technical points of EGCT. Looking at the chart, you can see that the stock has traded in a tight channel, achieving higher highs and higher lows, and offering savvy traders the chance to take advantage of large percentage gains from the bounces it has seen. In the time of our coverage, there has been the opportunity to lock in over 260% in cumulative gains. We’ve identified the key levels of resistance to be .40 and .45, a move past which point could send us into blue sky breakout mode.

It has been quite the rollercoaster thus far, but we feel that the ride is a long way from over. In fact, it has yet to even truly begin. The impending acquisition of ACE Rent A Car is the main element in what we feel should be an exciting future for EGCT. Once the recently announced financing is secured for said acquisition, things should really get interesting.

If you didn’t catch the special report we put out on EGCT a couple of weeks back, we strongly encourage you to do so now:

EGCT Special Report

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Extended Watchlist:

RFMK, BBDA, BLVT, CEII, ASTX, CYTX, TPI, BYFC, WSGI (Potential Bottom),  

PPHM, GLRP, WAFR & Extended Watchlist

Peregrine Pharmaceuticals, Inc. PPHM

After the big sell-off and gap-down early this week, PPHM has provided us with some nice intraday swings, showing high volatility. Over the course of the week, it has traded in a range between .80 and 1.94, for a difference of over 140% There have also been several chances in the meantime to rake in even more percentage gains. It is for this reason, we feel we must continue to talk about this stock; It has presented us with one opportunity after another.

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Glen Rose Petroleum Corp. GLRP

As much as everyone loves the 50-100% or better gains, 15-20% gains are nothing to sneeze at, and certainly do add up. So far, GLRP looks like it is going to be a nice play, with a range yesterday of .07-.087 (+24%). It closed at the .087 high-of-day, which is often a good sign of further gains to come. A good first day of coverage for us, and we are eager to see how this one plays out over a longer period.

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COREwafer Industries, Inc. WAFR

WAFR appeared in last Friday’s Extended Watchlist, and after trading as low as .035 on Monday, reached .0595 (yesterday’s closing price). It maintained higher lows and higher highs since the beginning of the week. We had noticed this play coming off of its bottom last week, and after a 70% gain, are still under the impression that the uptrend could continue.

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Extended Watchlist:

FRCN, EGCT, OCLS, GOK, MPET, ROYL, ACHN,

MIMV, GLRP, PPHM & Extended Watchlist

MIMVI, Inc. MIMV

We are introducing MIMV to those of you previously unfamiliar with the stock. We are calling this play a hi-octane momentum mover; the company had news with tech supergiant, Microsoft, out yesterday and the PPS went bananas. It rocketed to its highest price since March, on record volume of over 26X the 3mo. average.

We want to continue to watch MIMV for a continuation of the huge momentum it built up yesterday.

SUNNYVALE, Calif., Sept. 25, 2012 /PRNewswire via COMTEX/ — Mimvi, Inc. (OTCQB: MIMV) has announced that it has finalized a partnership agreement with Microsoft Corp. The partnership will see Mimvi develop a number of products and services to complement Microsoft’s Windows Azure and Windows Mobile 8 Platforms. The agreement also involves Microsoft making investments in Mimvi in the form of engineering services, software, and cash. More Info at:

http://www.mimvi.com

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Glen Rose Petroleum Corp. GLRP

It has been awhile since we brought an oil & gas play to the table, and GLRP came across our scanner, as we were alerted by heavy volume increase over the past couple of days.

In addition to big volume and price increases, there appears to be a number of Form-4’s filed over the past year indicating large insider buying at premium prices well above current market value.This is definitely something to take notice of, and we will be adding GLRP to our watchlist moving forward.

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Peregrine Pharmaceuticals, Inc. PPHM

PPHM has been a beast for us, making a dead-cat bounce from .80 on Monday, and reached 1.87 yesterday. We want to watch closely as it continues its attempt to recover lost ground. It has been trading record volume over the past two sessions.

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Extended Watchlist:
EGCT, ICNB, RSH, SCMP,

PPHM, Bottom-Play List & Extended Watchlist

Peregrine Pharmaceuticals, Inc. PPHM

PPHM has been one heck of a play in the month and a half that we’ve been following its activity. We saw yesterday’s large gap-down as an opportunity to play a possible bounce, and indeed we were correct. The stock traded as low as .73 pre-market, with trades going off at .80 at the open. The stock then bounced back to 1.57, awarding those savvy enough to play the bounce a quick gain that nearly reached triple digits. PPHM’s ability to pad our pockets is why we want to continue to monitor the stock moving forward.

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Possible Bottom Plays

Today we thought we’d scan for stocks that are at or near their 52-wk lows, in an effort to root out some nice bottom play opportunities.

Quantum International Corp QUAN

Steele Resources Corp. SELR

Smart-Tek Solutions, Inc. STTN

Source Gold Corp. SRGL

HPC POS System, Corp. HPCS

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Extended Watchlist:
AEZS, ATRS, DARA, BRIZF (TSX: BRI), EGCT,

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