Daily OTC Markets Preview – 03.06.2013
There are a couple of hours before the first opening bell for the week signals the beginning of the financial race on all US stock exchanges. We would like to aid the runners who are preparing to take part in the marathon on the OTC Markets by presenting our daily psummary of the major events which are likely to influence the trade on the small cap segment:
Clean Coal Technologies, Inc. (CCTC) – CCTC is one of the most notable promotions for today. Newsletters touting CCTC as “mega-momentum alert” have been spreaded around by two groups of promoting websites.
On one hand we have Stock Mister, one of the biggest players among promoters, who is promoting CCTC by order of M & M Asset Management Group. The latter had commissioned a two-day marketing program regarding CCTC for the total amount of $90,000.
On the other hand we have a second group promoting CCTC which is sponsored MicroCap Consultants LLC. This group includes 1-2-3 Stock Alerts, Stock Market Quote, Penny Stock Players, Penny Stock Pros and The Stock Scout. They had received $35,000 for the service so the total sum spent on the campaign adds up to $125,000.
Given that the company has not been promoted for more than a year and that so much effort has been put into its current market awareness campaign, CCTC stock may face increased demand today. However, a short look into the history of the third parties shows that most of their previously promoted stocks have succumbed to a strong selling pressure after the pump.
In this respect CCTC may be suitable only for intraday speculation rather than a long term hold strategy.
Just a couple of minutes ago the company issued a press release via PRNewswire in which it announced that it had retained Carrier Vibrating Equipment Inc. to design and build a coal testing unit that would add capabilities to the pilot test plant which CCTC plans to commission later this year.
CCTC is an emerging cleaner energy company utilizing patented technology to convert raw coal into a cleaner burning and more efficient fuel. It is traded on the OTCQB market with a market valuation of $31 million as of May, 31.
Since February this year CCTC stock has been sliding in a steady downtrend and last Friday CCTC finished at $0.0365 per share after losing 8% of its value on a volume much higher than the 3-month average. This is exactly where the support line of the stock is and the way it performs at this point will represent an important technical signal for market speculators.