Another week of investing and trading on the books we’ll see how the penny stock picks that we made here on the Canadian Penny Stocks blog fared. The TSX was decidedly lower this week.  This trend may continue into early next week as earnings report continue to trickle out and more economic reports are released.  We were able to escape the September jinx but the verdict is still out on October.  So let’s take a look at this week’s stocks:

YNG.TO– $0.315 – Unchanged – Had a great run up and seems to be consolidating before another move higher.  Great results from this company so no reason to doubt another upward run yet.

ELR.TO– $0.75 – Unchanged – Had a run up based on operational results but now has the news priced in.  This stock might be going lower in the short term.

FWR.V – $0.50 – $0.485 (-3.00%) – Looks like the upward trend might be reversing.  Hold off on this one until some new levels of support can be established.  It does have good volumes though, which make it good for trading for those with short term horizons.

SXN.V – $0.10 – Unchanged.

ML.TO – $2.86 – $2.81 (-1.78%) – With a new acquistion it will surely knock down the value, but will grow the company and just means you can buy it cheaper and let it run higher.

MTB.V – $0.305 – $0.29 (-5.17%) – This stock has been moving in a wide range consistenly between 0.27 and 0.33 which makes it prime for swing trading.  From a more fundamental perspective, this company should be announcing some financing news in the near future which makes this one a continued “penny stock to watch”.

BRG.V – $0.02 – Unchanged – When a blog that deals with speculative stocks calls a stock a gamble that might tell you something.  But sometimes gambles pay off.

IAE.V – $0.90 – $0.84 – (-6.67%) – Although recent trend downward, the volumes aren’t there to support a large decline.  This could be a good consolidation period where you can load up on the cheap.

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