JBII Stock Watch
A few may remember me from the ol' satw***s site (Hi Limit! :)). Since I no longer wish to support said site, I thought I'd introduce myself here. I'm a SIRI long since 2008, bought my first shares for 3.08, watched 'em tumble to .05, started rebuying at .09 and now years later, I hold exactly half of my original target share count. It's been quite a ride. I'll probably hold the remaining shares forever - not much of a trader. I absolutely love the service and the stock.
Anyway, my other favorite stock other than SIRI is a little company based in Niagra Falls, NY. They turn waste plastic into spec fuel. Yes, they do!
And now I present...
The good: Spec fuel from waste plastic. Pristine, low sulfur spec fuel. Fully permitted in NY state. Validated by independent labs. 10 year supply contract with NYSE:RKT. ~90% margins. GREEN. More processors coming online. $8M recently raised for upcoming processor cluster in FL onsite at a Rock Tenn facility. Billionaire investors. ETC.
The bad: So, they did some stupid things in the past and got themselves sued by the SEC last year. Long story short, they just settled with civil penalties of ~$300K and no fraud whatsoever. New management in place. New management consists of former Rock Tenn executives, including their new CEO. (Kevin Rauber) No chance of a repeat offense.
The ugly: And not so ugly... I'm simply waiting for 4th quarter results of ~$1M which will essentially validate that Kevin Rauber's promise of a cash flow positive Q1 is achievable. It's a bold promise, but production has been increasing over time.
It's taken off a bit since the settlement announcement. Currently at $1.10. It sat in the .70-.80's forever so I see that as bottom support. Now the suit is out of the way, word is getting out - this very well may be the first company of its kind with an economically viable green process.
The best thing about this company is the environmental impact they will have. 92% of plastic goes to landfill, and the only way to dispose it is to bury it or burn it - until now. I'm banking on this one. Been watching it for a year and a half. I've bought from .66 all the way up to the mid 3's last year, with a .95 basis.
It's looking like we hit at least 1.20 tomorrow (tues 1/29/12) and possibly even 1.50 this week, though I do see some profit taking pulling it back a bit soon thereafter. Keep an eye on it, there will be plenty of trading opportunities.
I'll post updates as they happen, good or bad! :)
Gap up this morning... up 17.27% today @ 1.29 currently on above average volume. If that gap fills, it would be a great entry point.
Close @ 1.29. +34% the last two days, green since 1/18. I see resistance around 1.40ish and if that breaks, maybe $2... Incredibly tough to say but I certainly don't see much long term downside right here.
I think q4 will be impressive enough, and I think others know it. IMHO of course.
So many equities, not enough people! This is why I am doing everything I can to grow our member base.
Don't lose hope, someone might see this post in a search engine and join to discuss.
Up another 14.73% today with a $1.48 close. Insane volume, small and brief pullbacks, but holding strong. $1.50 is key resistance. If it breaks, $2.00 looks easy...
(1.48 or 1.461 close - not positive yet... in any case, another 13% increase!)
What's up Trace?! Here is my recent take on JBII.....it barely poked through a triple top resistance line from several months ago. It will be interesting to see tomorrow how it reacts to this line and whether it uses it as support or resistance. If there is a pullback after this quick pop, the gap-up highlighted by the purple channel could be the support area. The next few days will be interesting. Glad I held onto my shares.
Mr. Bass, nice to see you! I've missed your charts and I see your skills are ever improving :) cheers!
A healthy pullback today, down 12.84% to $1.29 on good volume. I wouldn't be surprised at all to see it hit the gap as limit pointed out but I am extremely confident we go up soon thereafter, to the $2-2.20 range. That's about the same price it was before the SEC suit knocked it down. The company is far stronger than it was a year ago, in just about every regard.
Their intent is to uplist. They will change the name and most likely the ticker this year. There are $4M in warrants above a $2 pps and a bunch of $1.50 options owned by management, so there is incentive to meet their goal of CFP.
Third processor will be online this quarter (if not already) so that will seal the deal in my opinion.
Friday 1.32 close, today -.14 to close at 1.18 on 340K volume. I'm pretty sure the 1.10 gap fills, maybe even briefly lower. $2 by earnings is my call, by mid March. I don't see it going below a dollar but that's just my opinion. Six weeks away...
Both good news and bad, but primarily... more delays = bad.
.82 today. $2 by earnings won't happen unless unexpected positive news hits, so yeah it probably won't happen. I'm frustrated but still holding... Someone(s) picked up lots of cheapies today, over 500K volume.