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Hello fellow investors / traders,
Regular readers of this newsletter will know
that there is one "metric" I often look at more than anything else when planning a trade - the market cap and float.
True North Energy Corp (TNEN) has one of the smallest floats I've ever seen. With a low float of just $33k according to OTCmarkets.com and their latest SEC filing, there could be
some huge interest coming back in from value buyers, momentum
traders and those covering their short positions.
Now I know that some of you don't like to trade sub-pennies. I understand, they can be risky. But they can also give us the most gains.
And I try my best to bring you the best risk v reward setups I can find, regardless of its price.
TNEN has pulled back significantly to where it is trading just a fraction above its 52 week lows. And the Level 2 yesterday showed me there appeared to be tremendous buying support at these levels.
Coupled with its tiny market cap & float, I think TNEN could be a nice speculative "lottery" play tomorrow.
Remember GYST from a couple weeks ago? I alerted it at around $0.0003 on monster volume and it went on to hit $0.0008 the same day for a 167% gain.
TNEN could provide the same opportunities for gains.
Now TNEN has pulled back from its recent run higher, I think this dip /
pullback could provide a good opportunity for traders to get in
before another possible push higher - which could lead to a substantial momentum fueled move.
TNEN per Corporate Website
True North Energy Corporation (TNEN), incorporated in April 2004, is engaged
in the acquisition, exploration, development and production of oil and
gas properties located throughout the United States. It holds assets in
Alaska and Colorado.
Recently, True North has undergone exciting changes, which complement
its core philosophy: Build an energy company by continuously evaluating
the bottom line. From bedrock to barrels: phase projects, establish
positive earnings, and move methodically forward.
TNEN's strategy is to continue to build its operations under a two phased approach.
Phase I includes establishing an operating technical team; acquiring
producing assets to activate the production side of business; and
acquiring development and low risk acreage.
Phase II focuses on acquiring production and leasehold in low risk
proven fields and implement workover and drilling programs including
activating behind pipe, "stranded," reserves; increasing operational
efficiency; and drilling infill locations on proven fields.
TNEN is pleased to announce that it plans to segregate its existing
overriding royalty interests (ORRIs) in the Cook Inlet and Beaufort Sea areas
of Alaska and northwest Colorado, into a new subsidiary and plans to pursue
additional acquisitions, funding permitting. In addition, the company has
established a wholly-owned Hong Kong subsidiary, Marco Capital Limited.
Headquartered in Hong Kong, Marco Capital Limited is planned to explore
emerging market, including China, opportunities in various industries. CEO
Gilbert Steedley states, "This investment diversification is in the best
interest of the shareholders as it exposes the company to a wide range of
opportunities. We feel very confident these strategic moves and continuation of
our business plan, funding permitting, will allow us to increase shareholder value."
For more information on TNEN, visit their website at http://www.tnencorp.com
TNEN has the potential to run big from these levels and potentially trigger a short squeeze, so do your homework now and be ready for what could be an explosive day.
Remember, as always, be careful chasing gap ups. And make sure you use mental or hard stops just in case the trade doesn't go our way.
www.ShiznitStocks.com
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