Trading Alert for 5/26/2011

$GLUU and $GMO - two symbols to push up higher tomorrow. Strong volume today suggests that the action is not over and will be carried on tomorrow morning.

$GMO returned in the wedge but in fact this feels more than just a technical chart event - General Moly published slides from the Goldman Sachs Basic Materials Conference 2011 , May 26. Here you could see those slides. (General Moly slides). General Moly said with $15/lb moly prices (current price) NPV for $GMO is $15.17 per share, or 3.75x the current price. The company also said the Mercator transaction values $GMO at $7.05 per share, or 1.75x the current share price. (see the snapshot below).

As for $GLUU, it confirmed bullish triangle breakout. $GLUU should also benefit from its likely addition to the Russell 2000 in June 2011.

Backtested Symbol: $GMO

Strategy: Pennystocks100 (5 min chart)

Period: May 25, 2010 - May 25, 2011

# Win: 0

# Loss: 0

Winners: 0%

Profit-Loss%: 0%

Backtested Symbol: $GLUU
Strategy: Pennystocks100 (5 min chart)
Period: May 25, 2010 - May 25, 2011
# Win: 3
# Loss: 0
Winners: 100%
Profit-Loss%: 7.12%