Have you heard anything about Google and China. Really interesting thing happening there with Google potentially pulling out of China or stopping the filtering of results they currently do. “In a surprising move that could affect its presence in a coveted, fast-growing international market, Google Inc. said Tuesday that it’s considering pulling out of China following what the company said was a series of cyber-attacks on its infrastructure and users.” (source). This is clearly bad news for the immediate share price of Google while Chinese search engine Baidu has seen a short term pop on this news. This is outside the small caps and penny stocks but sometimes these macro events can have a trickle down effect to other companies as well.

It looks like we will continue to see downward pressure into Wednesday with financials and commodities bringing us down. This is likely not going to be a sustained downtrend, but range trading until more substantial earnings reports come out.

Yesterday’s Penny Stock picks:
PSX.TO – $1.83 – Close $1.91 (+4.37%)
BXI.V – $2.12 – 2.14 (0.94%)

Penny Stock picks for Wednesday:
GWG.V – $0.295 – Great Western Minerals had a decent run up as of late, but today announced that they are moving forward with a $7million prospectus offering at $0.28/share. They report that it is mostly for capital costs to acquire equipment for their subsidiary LCM, although other items were mentioned including working capital. It would be good to get some clarification on how much of the offering will be used for working captial, the less the better! Since this is a longer term play the short term volatility isn’t a concern but the overall fundamentals still need to be in check.

WLC.V – $2.30 – Western Lithium Canada. Byron Capital Markets Increases Target Price on Western Lithium to C$4.40. Worth taking a look at.

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