To OTC Journal Members:
 

If those who took the time to read my weekend edition on How To Make Ugly Work For You, so far there has been one stock to look at. Genetech (NYSE: DNA) reported earnings post close yesterday, and there was a brief opportunity to take a profit on a short trade or a put option.

I didn't make a trade in the stock as it hadn't traded up into the earnings release. In fact, it traded down throughout the day as did most of the market, so I avoided it. As it turned out, a short would have yielded a quick trade for a point or so, but then it was over. The company delivered a little weakness on the top line, but the bottom line was OK, and the stock is behaving much better today- up about 4 points.

Today's post close trade would be Altera (NASDAQ: ALTR), which is expected to deliver $.27 per share in earnings. I am going to hang back and watch what happens and try to learn. There might be so much bad news priced into stocks there's no where to go but up. There are lots more opportunities on the list, so let's hang back and see what happens.

Another trade worth looking at is the long side on Research In Motion (NASDAQ: RIMM). The stock traded down to a lower perfect 61.8% retracement today, and promptly bounced. I believe the stock is going to $200 in the next bull market. Check the BLOG for more details and a chart. I believe the stock is a but right now.
 

Platina Energy (OTC BB: PLTG): A Microcap That Could Buck the Trend

As you all know, July has been a very tough month on stocks, and the economic picture has dulled considerably. In my view, it could take some time for the micro portfolio to come back. If you're still in, you need to think long term. There's very little sell pressure on these issues, but buyers are simply nowhere to be found. A little bit of sell pressure goes a long way in today's market, but a little buying pressure will take them back up quite easily when the time comes.

The one microcap I cover which has a really good short term chance is new idea Platina Energy Group (OTC BB: PLTG). The stock was a real roller coaster ride the first couple of days, but has since smoothed out, and is the only microcap stock trading above the introduced level $.12 in the case of PLTG.

As you can see from the chart, I first introduced the company back on June 19th at $.12. The stock made it to nearly $.18 that day, and the next day just got hammered on the biggest single volume day in its history. Seemingly, there was some pent up demand to liquidate shares. The stock promptly bounced, and it has been all quiet since then- the stock has chosen to camp on the $.13 to $.14 level.

Today's post close news is certain to raise some eyebrows and investors are going to wonder just how big this company can become. PLTG disclosed today that a conservative independent group estimates their oil and natural gas recoverable reserves at $500 million - yes folks, about $1/2 billion in recoverable reserves.

I have seen and read the report. I am no geologic engineer, so I can't really plow through the data and provide you with real meaning. However, it is an independently produced and very detailed report. 

The report specfically references PTLG's properties in Laurel, Whitley, and Clinton counties in Kentucky, and Hawkins County in Tennessee. PLTG has just started harvesting from a number of these wells, and more will come online throughout the course of the summer and into the Fall. 

I believe the conservative, independent estimate of $1/2 billion could be an eye opener for the market, and get this stock cranking but up the charts once again.

It seems are timing on this idea could be quite prolific. This has been striclty an exploration play until just this past month, and now PLTG will start receiving its first checks in the back half of August.

I have no idea how long it will take the company to harvest $1/2 billion in resource revenues, but if they get started on a small fraction of that number this year, it bodes very well for the price of the stock.

The company trades at a current valuation of $16.8 million. It seems to me, as these wells prove out in numbers, the company shouldn't have much trouble trading up to a $50 million valuation- this would translate to a $.40 to $.45 stock. I would be willing to go up into the $.16 to $.18 range on purchases, but a gap up in the morning should be avoided. If it gaps up, wait for a pullback or file a limit order.

As a fast growing US based energy producer, this one could trade very well. Here is today's news release for your review:
 

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