We’ve got a new item of interest in the penny arena to start things off this morning. Following a major run back in April, SWET has consolidated, and has been generally trading sideways ever since. We like the look of the chart, and feel that conditions are coming to a point where things could get interesting.
As you can see on the chart below, the RSI has held in there above the 50-line, there’s been a recent Golden Cross of the 50DMA over the 200DMA, and the MACD appears ready to start turning to the bullish side. It may not be too long before we see a pop out of this thing, so we’ll keep an eye peeled for that.
We also got word this morning that the company will be presenting at a prestigious investment banking conference at the beginning of next week:
ANNAPOLIS, MD, Jun 13, 2014 (Marketwired via COMTEX) — Solar Wind Energy Tower, Inc. (OTCQB: SWET) (the “Company”), the inventor of large Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity, announced that management will present at the National Investment Banking Association (NIBA) Conference to be held on June 16-18, 2014 at the Roosevelt Hotel in New York, NY.The NIBA Conference will give Solar Wind Energy Tower, Inc. access to a large audience at one time. NIBA’s membership is vast and multinational, and representing over 8,800 registered reps with an estimated $78B in assets under management. >>> FULL PR
Global Gaming Network, Inc. GBGM
With the vast array of stocks that we’re tracking all the time, it isn’t too much of a surprise when one of them perks up its head and regenerates our interest. Such was the case with GBGM yesterday; the last time we made mention of this stock in our daily reports was back on May 1st. At the time, we were monitoring the play for a bottom, which took the better part of the next month to reach.
GBGM touched down and found support at .0008 recently, and yesterday the sleeping giant was finally awakened as the company announced that it had retired 50 million shares of common stock, thereby reducing the number of outstanding shares 6%. What resulted was a significant upswing that took the stock as high as .0021 and generated gains of up to 162% for anyone that caught the bottom.
Options Ideas
OpenTable, Inc. OPEN
OPEN is gapping up tremendously this morning on news that the company is to be acquired by The Priceline Group. In situations like these, we like to monitor these high-flyers for subsequent dip-and-rip scenarios. Specifically regarding the options chain, when a strong move like this is properly utilized, it can spell big gains for those playing the Call side.
When something of this magnitude occurs, it can also create a sector-wide ripple effect, so we may also want to track stocks like LIVE, YELP, GRUB, and of course, PCLN.
Extended Watchlist:
GRPN, ICLD, LOCM, CNAT
