STOCKS TO WATCH – LSTG, POTG

 

LSTG, POTG, TKDN, NYXO


LSTG Lonestar Gold (LSTG:OB) We touched on LSTG and it’s renewed interest last night. Today, shares are up nicely despite gold getting smashed again. Shares of LSTG have also staged a mini breakout today after penetrating the $1.12 level. Just remember to use this name as a trading vehicle and don’t buy into the astronomical potential valuations that are being thrown out there. Also, there could be some resistance ahead at $1.35.

Portage Resources (POTG:PK) POTG seems to be back in play. It looks like a promo is going on with this heavily scrutinized penny stock, as evidenced by it’s recent volume surge. Some market scans may have picked up on the increased action last week, and shares of POTG were over $1 just as recently as July. Is this a last ditch run or is the POTG story starting to pan out ? Well, I would err on the side of caution. However, POTG has traded over $100 million of dollar volume before and the weekly charts look as if a breakout is in the works. A break of .37 cents could cause some momentum type buyers to step in and naked shorts to cover.

Takedown Entertainment (TKDN:OB) MMA has been a hot topic, and there are few alternatives for bulls to purchase if they like the sector. Although the volume so far isn’t especially strong, TKDN is still currently off over 12% today, Shares are currently in a downtrend and a test of the August lows of .77 cents might be crucial for longs who are trying to hang on.

Nyxio Technologies (NYXO.PK) Shares of NYXO are up on Tuesday, after some fluffy news brought some major volatility into the pink sheets name on Monday. NYXO did retest support in the .67 cent range during the drop. So this might have given some savvy penny stock scalpers an exit point on the downside. The charts look like NYXO has to get back in the mid .90 cent range to reconfirm it’s uptrend.

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LONE STAR GOLD – LSTG

 

LSTG Stock Rebounds


lone star gold lstg LONE STAR GOLD LSTGGold made a nice rebound today, and a further move higher could impact gold penny stocks like Lone Star Gold (LSTG:OB). LSTG is based in Albuequeque, New Mexico and is an exploration stage company that also is attempting to grow via acquisition.

LSTG has properties here in the United States and also in Mexico. The company’s signature property is the La Candelaria project. LSTG owns 70% of the gold and silver project. The property is almost 2000 acres and by some accounts, has massive potential. Some have stated that the potential value of the underlying gold and silver is in the billions.

Shares of LSTG are currently a promo play, and the stock closed up at $1.12, which was a little under a 3% gain on volume of a little over 626K. The activity was better than normal, but no records were set.

LSTG Stock Risky Investment


On a technical basis, LSTG faces strong resistance at the $1.35 level, but has decent short term support around the “psyche level” of $1.

At this point, a wise speculative trader should be keeping his eye on PR’s, volume and the direction the underlying commodities of gold and silver. Also, forget the lofty valuation comparisons to mid cap and large cap gold names. LSTG is just too unproven at this point. The company has a market cap of roughly $129 million and just 12k in cash.

However, as many of you have read in our alerts, there is money to be made in hot penny stocks if you view them solely as trading vehicles.

Now if you are into speculative gold related spec names, add the company to your penny stock list. Just keep in mind that history tells us that Lone Star Gold (LSTG:OB) LSTG is risky and probably won’t be a blue chip stock by next year.

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