Over the past two trading sessions, CTEX has rallied 32%, to 0.006, or about 14% below our entry point... That's about the area where the stock has been bumping its head, so if this mini-rally we're seeing in the markets (or this dead cat bounce, your call) continues, you never know...
WE MIGHT SEE A BREAKOUT HERE...
Let's keep an eye on CTEX...
The company just signed a letter of intent to buy a 40-year-old stalwart of American air filtration technology... Now the company is financing the move with shares and a bond issuance, but debt is still relatively cheap and the move is called for considering the exploding growth in this market.
Whether the dilution in the shares will affect our position is unclear until we get some details of the financials. But we'll be sure to follow this one closely. It does show, however, a robustness and solvency at CTEX that should buoy shares in the long run.
Here's the complete article.
"Cemtrex Signs Letter of Intent to Purchase Griffin FiltersTue Mar 6, 10:44 AM
"FARMINGDALE, N.Y., March 6 /PRNewswire-FirstCall/ -- Cemtrex Inc. (OTC: CTEX) announced today that it has signed a letter of intent to purchase all of the outstanding shares of Griffin Filters, a company engaged in the design, manufacture and supply of air filtration and environmental control systems for industrial and commercial clients throughout the United states. The Company intends to finance this purchase with the issuance of its common stock and a long-term note. The purchase is expected to be completed within the next two months.
"Griffin Filters has been a leading supplier of dust collection systems for the past forty years with hundreds of installations nationwide," said Mr. Aron Govil, CEO and President of Cemtrex, "and this acquisition would allow us to diversify into the rapidly growing environmental control products segment."
"Cemtrex through its MIP division is engaged in manufacturing and selling the most advanced instruments for emission monitoring of particulate, mercury, sulfur dioxide, nitrogen oxides, etc. Cemtrex also provides turnkey services for carbon creation projects from abatement of greenhouse gases pursuant to the Kyoto Protocol and assists project owners in the buying and selling of carbon credits globally. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies."
Enjoy and profit,
- Sell CECO - Lock In 27%
- Move CECO TS to $14
- Sell Remaining Bunge options
- BG... In the Money
- Portfolio Update, Post-Fed
- Solucorp Update... The Spamalot Files
- Cell CTEX at $0.0035
- Sell CTEX Today... But Hold for Now
- The Hot, Tedious Summer Ahead
- Sell half remaining BG calls
- Smile... You Just Saved 6%
- Lock in 14% on BG Options... In Just 24 Hours
- Buy the Bunge April Calls at $2.35
- CTEX Bouncing Back
- Some SRI Resources
- Bunge Update
- Add Nomura to the Portfolio
- SLUP Defies the Markets... Rises 2.3% Today
- ▼ March (18)