Commerce Planet, the company formally known as NeWave, is indeed behaving quite remarkably. In essence, all the bad juju is pretty much cleaned out of this one- its reincarnation is complete both on the fundamental and technical side.

I say this because the stock is behaving like a champ against the backdrop of a brutally tough market. Were it not for all the FED speak about inflation, this stock might be in the $.75 range right now.

All the old money from the 2005 poor year that wanted to sell has done so. Alot of the financier money has been absorbed by the market. And yet, the stock made a multi month high this past Friday.

Here’s the current chart:

As you can see, the stock is making a series of higher lows and higher highs. This chart is one of a stock that is clearly in an uptrend, and defying the gravity of the current market.

This chart suggests to me that the June quarter is going to be a real blockbuster, and the market knows it. Amazing what a little corporate performance can do for a stock.

Barring any cataclysmic market calamaties, I believe this is one to own and hold on to. I have sold very little of our corporate holdings. In fact, we still own nearly 66% of our shares after nearly 2 1/2 years and a lot of pain in late ’05. Oh, that I would have had the courage to buy more at $.19. Such is life.

Accumulate on dips and put in the forget about account. Looking for $1 on this on. If Q2 is another 250% year over year sales growth with significant profits, look for $1 sooner rather than later. We’ll see the numbers in early to mid August.

Comments and questions are welcome.