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3 Hot Penny Stocks To Watch Before The September Fed Meeting

Penny stocks to watch this week.
The post 3 Hot Penny Stocks To Watch Before The September Fed Meeting appeared first on Penny Stocks to Buy, Picks, News…



The Allure and Risks of Penny Stock Trading in 2023

Penny stocks represent an exciting yet risky path to profits for active investors. Defined as stocks priced under $5 per share, these cheap equities boast the potential for astronomical returns on minimal investments. However, penny stocks also carry substantial risks, including extreme volatility, lack of financial data, low liquidity, and susceptibility to fraud.

Why Penny Stocks Captivate Traders

The primary lure of penny stocks is the prospect of reaping significant rewards from a modest initial investment. Even fractional price surges can generate outsized percentage returns thanks to the stocks’ ultralow per-share cost. The affordability of these equities also allows traders to acquire substantial volumes of shares without expending substantial capital. This facilitates portfolio diversification into smaller, lesser-known companies alongside traditional blue-chip stocks.

Strategies for Investing in Penny Stocks

The penny stock sphere demands diligent research and prudent strategies. Before buying penny stocks, educate yourself thoroughly on trading dynamics and regulations. Select a brokerage that specifically accommodates penny stock transactions.

How to Weather High Volatility With Penny Stocks

Analyze prospective stocks in depth, evaluating financials, leadership, operations, products, and services. Favor companies with transparency, fundamentals, and positive industry outlooks. Initiate positions gradually, as penny stocks tend to be highly volatile. Monitor invested penny stocks closely.

Hazards to Heed With Penny Stocks

Despite their profit potential, penny stocks carry elevated risks. Prices and valuations tend to fluctuate wildly in reaction to developments, news, and hype. Financial reporting depth lags larger firms, complicating analysis. Illiquidity can hinder selling if trading volumes evaporate. The penny stock environment is also more susceptible to manipulation and schemes like pump-and-dump fraud. Tread cautiously, steering clear of tips or stocks that appear exaggerated.

With prudent strategies, sufficient capital, and tolerance for risk, penny stocks offer a pathway to potential rewards. However, hazards loom, demanding research, vigilance, and disciplined approaches from penny stock traders.

Headwinds That Could Drive Stock Market Volatility

This week could see increased volatility across the stock market. That means the potential for capitalizing on considerable swings in stock prices, which penny stocks are already known for. what’s happening in the stock market this week? The September Fed Meeting and FOMC rate hike decision on Wednesday, September 20, 2023, with a press conference starting at 2:30 pm ET.

September FOMC Meeting Outlook

The Federal Reserve is likely to retain its short-term rates between 5.25% and 5.5% on September 20. While the rate is expected to remain stable, the meeting will shed light on potential hikes for the remainder of 2023. Despite earlier forecasts suggesting a rate increase, recent data and external factors, such as economic disruptions and job market shifts, have introduced uncertainty.

Market analysis indicates a one-third chance of another 2023 hike. Key insights will be drawn from Fed Chair Jerome Powell’s upcoming statements, with the final decisions for 2023 still in flux.

Penny Stocks To Watch

This brings us to today’s list of penny stocks and putting together a watch list for the week. Despite the uncertainty and likelihood of a “no hike” outcome, traders are still speculating on the implications of Fed Chair Powell’s statements at the Fed press conference.

  1. fuboTV Inc. (NYSE: FUBO)
  2. BioLine Rx Ltd. (NASDAQ: BLRX)
  3. MIRA Pharmaceuticals Inc. (NASDAQ: MIRA)

fuboTV Inc. (FUBO)

Last week we discussed how professional sports seasons are getting started once again. That means entertainment stocks could be a fan favorite. fuboTV is an online pay-TV service offering traditional channels without a cable subscription. The company’s platform also offers a level of interactivity as a sports-first outlet. It gives viewers the ability to engage with content they’re watching through features like FanView, which lists stats and scores in real time. It also offers the ability to stream 4 separate channels at once and in 4K HDR resolution.

While the Disney-ESPN news put a damper on things in the stock market last week, shares of FUBO have continued recovering over the last few sessions. fuboTV recently chose Digital Harmonic’s KeyFrame for advanced video pre-encode filtering. It will allow further enhancement of video quality and allow for “significant” bitrate reduction.

FUBO stock is also on the penny stocks to watch list of traders hunting for short squeeze stocks. According to data from TD Ameritrade, the FUBO stock short interest sits around 17%.

BioLine Rx Ltd. (BLRX)

Shares of BioLine Rx have been on fire for the last few months. The company is focused on oncology, particularly a program for supporting therapeutic approaches to oncology and other diseases, motixafortide.

Last quarter the company announced a publication in Nature Medicine of its GENESIS Phase 3 trial. It evaluated motixafortide and G-CSF in stem cell mobilization for multiple myeloma. A New Drug Application (NDA) for motixafortide is currently under review with the FDA, with an assigned PDUFA date of September 9, 2023.

Fast-forward and BioLineRx announced FDA approval of its motixafortide (APHEXDA) combined with filgrastim. “Greater numbers of patients with multiple myeloma are candidates for autologous stem cell therapy; however, achieving target collection goals can be difficult in some patients given modern barriers, including the treatment of older patients and use of contemporary induction regimens,” said John DiPersio, MD, PhD, primary investigator for the GENESIS trial.

This also prompted optimism from the analyst community. This month, HC Wainwright boosted its $19 target to $21. The first also maintains a Buy rating on the penny stock.

MIRA Pharmaceuticals Inc. (MIRA)

Shares of MIRA stock have gone through the typical paces of newly minted public companies. Outside of the ARM IPO, most new issuers have faced more downside from the outset, MIRA Pharmaceuticals included. The synthetic THC development company slipped from IPO highs of $7.98 in August to recent lows of $3 this month. Not even the rally in marijuana stocks helped propel the penny stock.

This week, however, MIRA has seen a rebirth in bullishness following its latest headlines. The company shared data and research from the development of its MIRA1a as an alternative prescription medication.

“Because marijuana often impairs cognition, it can worsen performance in school or at work and make it dangerous to drive,” said MIRA’s Chief Scientific Officer, Dr. Kaplin. “Research and studies have also linked heavy marijuana use in children and adolescents to declines in IQ, and in adults has negative effects on attention, memory, and learning. With one molecular change from THC to Mira1a, we now have an opportunity to have a substantial impact on the future of cannabinoids in healthcare and disease.”

With this news, MIRA stock shot from under $4 to highs of over $6.40 on Monday. As of this article, prices hover around the high $4 range.

The post 3 Hot Penny Stocks To Watch Before The September Fed Meeting appeared first on Penny Stocks to Buy, Picks, News and Information |

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I Say We’re Setting Up For A Major Bottom

It’s almost impossible to call market tops and market bottoms using basic technical analysis tools like price and volume. Don’t get me wrong, that combination…



It's almost impossible to call market tops and market bottoms using basic technical analysis tools like price and volume. Don't get me wrong, that combination is my favorite during trend-following periods. But trying to spot bearish reversals is difficult when price action keeps riding higher and higher. The same is true in trying to spot bullish reversals when prices keep moving lower and lower. Maybe that seems unconventional to hard-core technicians, but I believe it's the reality. Too many folks say "when this line crosses that line, then this will happen". To me, that's following technical analysis and wearing blinders. Just my two cents.

I use technical price action to confirm what other signals are suggesting. We get plenty of signals on a regular basis - some short-term in nature, others long-term - if we're only willing to listen. While I've been bullish since June 2022, I do recognize short-term warning signals that tell us that risks of remaining long have increased substantially. In mid-July, I turned very cautious short-term and discussed those signals in a "Your Daily 5" episode that aired on July 19th. Let me pull up an S&P 500 chart, so you can see where U.S. equities stood when I fired this warning shot:

There were several reasons for the stock market bulls to hit quicksand. Tesla (TSLA), a Wall Street darling and a favorite stock of mine, suggested a possible 20% drop. That call aired the day of TSLA's top and TSLA fell closer to 30% in less than one month. These signals work and help us to manage risk! As I always say, they do NOT guarantee future price action, but they make us aware of increasing risk and that's how you invest more successfully. Since that July top, I've encouraged our EB members to tread very cautiously, whatever that means to each individual member. To some, it's being in cash. To others, it might simply mean to avoid leverage on the long side. But this cautious period is coming to an end.

If you want to see what was discussed on July 19th and why I felt the stock market was in short-term trouble, check out the Your Daily 5 recording on YouTube!

I absolutely LOVE when my signals take the opposite view of the masses. And now that everyone believes we're resuming the prior bear market, my signals are saying HOGWASH. Could we continue to proceed lower? Sure. There are never any guarantees with the stock market. But I see signs that suggest shorting is a VERY HIGH RISK strategy, with those risks growing every day. I'm discussing one major reason why in our FREE EB Digest newsletter that will be published early Monday morning, before the stock market opens. If you're not already an EB Digest subscriber, it's 100% free with no credit card required. Simply CLICK HERE and enter your name and email address. I'll discuss Reason #1 to turn bullish tomorrow morning. And I'll also focus on other reasons to be thinking bullish thoughts when I publish the EB Digest on Wednesday and Friday. Don't wait until it's too late. Check them out NOW!

Happy trading!


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Highlights from My Week’s Reading

Natalię Dowzicky, “How Florida Beat California to High-Speed Rail,” Reason, September 20, 2023.
Not only is Brightline the first privately…



Natalię Dowzicky, “How Florida Beat California to High-Speed Rail,” Reason, September 20, 2023.


Not only is Brightline the first privately funded intercity rail line in the U.S., but it’s also the fastest train in the country outside of the northeast corridor. Topping out at 125 mph in Florida, it will travel from Miami to Orlando in about three hours. For comparison, the Amtrak in the area takes about six and a half hours to complete that same trip.

Mike Reininger, CEO of Brightline, told Reason that passenger rail makes commercial sense under specific conditions, such as the case in Florida, where it connects two populous, tourist-friendly cities that are about 250 miles apart. At that distance, Reininger says, “It is too far to drive and too short to fly. You can approximate the time of flying significantly, improve the time of driving, and you can offer it at a price point that makes it an economic proposition.”

Not surprisingly, though, Brightline has become a subsidy sucker.

Romina Boccia, “Social Security Benefits are Growing Too Fast,” Cato at Liberty, September 21, 2023.


When a Social Security‐​eligible worker’s benefits are first calculated, this worker’s past wages are indexed to bring them to the same level as today’s earnings. This is called wage indexing and is based on the growth in average wages in the economy. When the Social Security Administration (SSA) first indexes a worker’s lifetime covered earnings, it does so using the SSA’s Average Wage Index (AWI). The AWI includes all wages that are subject to federal income tax, including wages in excess of the taxable Social Security maximum payroll tax threshold.

Wage indexing gives retirees a benefit amount that reflects the increase in the standard of living over their working careers—even if they didn’t earn commensurate wages. It’s like giving workers retroactive credit for improvements in the economy, including for wage improvements among the highest income earners.

Definitely worth reading carefully.

Christopher Wilcox, “Truck This: Why I’m Leaving the Long-Haul Industry,” American Institute for Economic Research, September 21, 2023.


More recently, environmental regulations requiring manufacturers to reduce emissions gave us the diesel particulate filter (DPF), an exhaust treatment system that replaces a standard muffler. While there is no current federal mandate requiring a DPF, the filters are required by the 2008 California Statewide Truck and Bus Rule, which has incentivized many nationwide fleets to adopt them. The problem with DPFs is the filter system clogs. A lot.

When DPFs go down, trucks roll to a stop. Truckers report having to have a DPF serviced as often as every 5,000 miles, which means lots of lost productivity and stranded cargo. I’ve had four breakdowns over the past two years, and three were due to my DPF. A tow truck driver I spoke to on one of those occasions told me half of his business comes from malfunctioning DPFs. Repairs are a specialized affair, and replacements can cost up to $2,000. When my truck isn’t moving, I’m not earning. And these regulators have required that my truck stand still far too often.

Of course California is in the forefront of regulation.

Fiona Harrigan, “Biden Administration Announces New Measures to Get Migrants to Work,” Reason, September 21 2023.


Yesterday, the Biden administration announced new actions to help get recent immigrants to work, including offering almost half a million Venezuelans a status that will let them live and work in the U.S. legally for the next 18 months. The new measures come at a critical time, as labor shortages persist and cities struggle to provide for newcomers.

Certain Venezuelan migrants are eligible for temporary protected status (TPS), a designation offered to migrants who can’t safely return to their home countries due to armed conflict, environmental disaster, or another temporary safety hazard. Venezuela was first designated for TPS in 2021 due to a severe political and economic crisis perpetuated by Nicolás Maduro’s regime. Under that designation, Venezuelans who came to the U.S. before March 2021 qualified for protection; now, the status will apply to Venezuelans who arrived before the end of July this year. There are currently 16 countries designated for TPS.

If I understand the program correctly, it sounds good: let them work instead of forcing taxpayers to subsidize their living expenses. It’s win-win-win for immigrants, employers and consumers, and taxpayers.

James Herndon, “Keep the Washington Consensus,” Law & Liberty, September 21, 2023.


Despite those deliberate omissions, synergies still allowed the Consensus to exceed the sum of its parts. Opening up foreign direct investment eased privatization. Privatization enabled balanced budgets. Balanced budgets limited inflation, which encouraged foreign direct investment. The common denominators were respect and restraint: leaders had to trust that firms and citizens knew better than the bureaucrats how best to allocate their own labor and resources. That’s why the Consensus’ first beneficiary was always likely to be the poor. After all, funding for primary education and basic healthcare does far more to reduce poverty than subsidies for diesel fuel and national airlines.

In short, Williamson promoted policies that enabled sustainable growth in developing countries with respect for their autonomy and an emphasis on raising prospects for the least fortunate. The Left never forgave him.

It’s the nicest treatment of the Washington Consensus that I’ve read. Lots of good nuggets.



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Miss Universe denies link with recently unveiled coin project

The Miss Universe Organization said that there is no Miss Universe cryptocurrency or blockchain offering involved with the Miss Universe or Miss Universe…



The Miss Universe Organization said that there is no Miss Universe cryptocurrency or blockchain offering involved with the Miss Universe or Miss Universe Philippines.

The Miss Universe Organization has denied any association with the Miss Universe Coin project announced at the Philippine Blockchain Week (PBW) event held earlier this month. PBW said that they are in contact with all involved parties and will post an update soon.

Earlier this month, a project called Miss Universe Coin was announced at PBW. Donald Lim, the founder of the organization managing the PBW, said during the event that the PBW will “launch the Miss Universe Coin.” However, weeks after the announcement, the official organization behind Miss Universe has denied any association with the coin project and called it a fraud. 

Official announcement published on the Miss Universe Facebook page. Source: Facebook

On Sept. 22, the Miss Universe official Facebook page announced that the Miss Universe Organization and JKN Global Group, the company behind the pageant, are not associated with the coin project that was unveiled at the PBW event. According to the organization, it will be pursuing “all legal options with regards to this infringement.” 

“There is currently no Miss Universe cryptocurrency or blockchain offering, and these products are in no way involved with the voting or selection process for Miss Universe or the Miss Universe Philippines pageants,” they wrote.

Related: JPEX hikes withdrawal fee to almost $1K after Hong Kong watchdog warning

In a statement sent to Cointelegraph, a representative from the Miss Universe Organization claimed that the Miss Universe Coin is a "fraud," and they expect it to be further announced in other events across the globe. “We suspect that people may be planning to mention this at upcoming blockchain conferences in Dubai and Singapore. If you see it there, please do not cover, it's a fraud,” they said.

In a statement on X (formerly Twitter), PBW said that they are currently in contact with all of the parties involved and will announce an update as soon as possible. Cointelegraph reached out to the Philippine Blockchain Week but did not get an immediate response.

Magazine: Chinese billionaire’s $1B fraud charges, Kwon’s $11M bet, Zhu Su and Islam: Asia Express

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