PWAC

[redchipper1]

Ouch!
Hopefully it bounces back soon, this is where bought yesterday...if I had cash available, I'd pick up some here.

[mexirafa]

It is trading within the chanel now. But still with strong support underneath.

Re entered at 2.20

[tokyopua]

I thought the news about being traded in Frankfurt would have given a little boost to the stock.  What, are the Germans gonna short this stock?

[Lucas Scott]

PWAC got Pwacked. I'm out with a 1% loss. Yesterday's move rendered suspect by today's bearish engulfing candle.

Snowcat - I saw where you said you hoped Gharknes bought. I really hope not or we won't hear the end of it once he gets out of time-out!

[Melf Elf]

Bought PWAC at 2.20.  Sold ½ at 2.43.  Gain: 10.45%.  Stop on the remaining ½ postion: 2.02, a penny below Monday's low of 2.03.  Risk: 8.2%.

Sold remaining ½ PWAC at 2.19.  Loss: 0.45%  Gain on the trade: 5%.

If a selloff had occurred over several days, I would stay with the 2.02 stop.  I don't like today's  Bearish Engulfing Candlestick.

A gain is a gain, though.  Thanks, G.!

[tokyopua]

PWAC got Pwacked. I'm out with a 1% loss. Yesterday's move rendered suspect by today's bearish engulfing candle.

I am out too.  May rebound and for all those holding I hope it does.  But I am putting all my stocks on short leashes until I see a strong follow through rally day in the market like $SPX up by 1.7% or so in a day.

[snowcat]

damn.

now gharknes has something else to complain about.

With the market so unpredictable,  there does not have to be a 3sof pick every day.........

[Melf Elf]

Crisis? .... Yeah, cuz' some people here calling me TERESA... what the heck!!

E-Trials would be good... If someone calls me TERESA again I'll call my attorney     

E-Trials,

Oh-h-h, okay, thanks for explaining.  You can see why Melf Elf had difficulty understanding an identity crisis.  

Now I'm curious about those dyslexics who call you TERESA.  

Snowcat - I saw where you said you hoped Gharknes bought. I really hope not or we won't hear the end of it once he gets out of time-out!

Luke,

Rats!  Well, at least he'd be break even at the close.  Unless he waited and bought it at yesterday's high of 2.50 because he forgot to read eliteG's instructions.

damn.

now gharknes has something else to complain about.

snowcat,

Well, wait a minute here.  ghark could have sold some near yesterday's close for a 10% profit, like some of us did.  Let's be optimistic.  I'll bet he sold some, and has a BIG gain!

Or, is that one of the times when he goes shopping? 

[mexirafa]

hi guys,

I got to pull the trigger before the end of the bell at 2.18, It thought it would rebound and finish stronger. Still a good play, i just didn't like daily candle.  Still on the watch. Good luck tomorrow,

rafael
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No open positions at the moment

[netfishmademerich]

I don't know if you guys follow David Randolph over at www.octbbcoverage.com but he is negative on PWAC.  Here's his analysis:

Fundamental Analysis

Profile:  Power Air Corporation (PWAC), with head office in Livermore, California, is engaged in the business of developing, manufacturing and marketing fuel cell based commercial products. Power Air has the exclusive worldwide license to zinc-air fuel cell technology that has been developed at the Department of Energy's Lawrence Livermore National Laboratory, in Livermore, California, for all fields of use (portable, stationary, light mobility and transportation applications) and commercialization.

For further information please call +1-925-960-8779 or visit our website at http://www.poweraircorp.com.

Latest 3 headlines:
Apr 03/06 - Power Air Signs Memorandum of Understanding for Tooling & Manufacturing in Midwest (PRN)

The company is preparing to ramp up for production of its exclusive patented Zinc Air Fuel Cell ("ZAFC").

Apr 18/06 - Power Air Commences Demonstrations to Potential Partners (PRN)

May 15/06 - Power Air Raises Additional $2 Million (PRN)

«"Power Air continues to meet the targets and milestones we established in 2005 and we are pleased that the market recognizes this," adds Don Prest, CFO of Power Air. "This private placement round was opened in April and response has been excellent."»

For an established company a private placement is usually a bad thing, because it is a sign the company isn't able to fund operations or investments through its activity. For a BDC it is usually seen as a positive, because it shows investors are willing to put money on an idea.

Latest 3 SEC filings:
Jan 17/06 - Form 10KSB Fortune Partners, Inc. For: Sep 30 (10K)

42,985,261 shares of common stock as of January 11, 2006.

Feb 10/06 - Form 10QSB POWER AIR CORP For: Dec 31 (10K)

May 15/06 - Form 10QSB POWER AIR CORP For: Mar 31 (10K)

43,000,646 shares of common stock as of May 12, 2006. The current market cap is $104,491,570 

Assets are just $714,297. Revenues $0.

«On April 24, 2006, our board of directors approved a private placement of up to 2,525,254 units at $1.10 per unit for net proceeds of up to $2,500,000 net of a 10% finder's fee, which we expect to raise by the end of May 2006. The Company to date has commitments for $1,692,900 pursuant to subscriptions received and expects to issue, as a result, a total of at least 1,539,000 units at $1.10 per unit. We anticipate that our working capital subsequent to this offering will be sufficient to enable us to complete phases 6 through 10 and commence phase 11 of our product development plan and to pay our general and administrative expenses for the next twelve months.

We will, however, require additional funds to complete phases 11 and 12 and commercialize our product and there is no assurance that we will obtain the funding necessary. If we do not continue to obtain additional financing going forward, we will be forced to abandon our plan of operations.»

So, the private placement on April 24 was at $1.1 a unit (unit is one share and one warrant to buy a share at that price). The stock closed yesterday at $2.43.

«We anticipate that we will require an additional $3,500,000 to pursue our business plan for the next 12 months and to provide working capital for our operating activities.»

«As at March 31, 2006, the Company had accumulated losses of $7,693,724 since inception.»

General Overview

I like the company's idea (although there are competitors with similar technologies), but, $104.5 M for a business plan?

For a BDC this is truly a high valuation. Perhaps they will sell a lot, but for now that is already reflected on the share price. I've studied several companies with the same kind of products, even yesterday, I studied CHDT which just made an acquisition of Complete Power Solutions, which is already selling products with the same application as PWAC, I believe. Sales at CHDT are growing 42% a month, on average, yet, the company is worth just $28 M.

[eliteG]

update PWAC:

Tough market.. we had a gap up open that was the high of day and we closed at our entry price after having a nice gain yesterday..ouch.  Of course the fundamental evaluation of a development company looks bad!.. these companies don't have revenue.. only potential(zinc fuel cell 1yr down the road) and this one had blast off technicals that gave us 1 day of trying to leave the atmosphere.  I still like the volume although the candle is not a bulls friend.. I'm going to say this rocket has come to reload its fuelcell 

We will go ahead and place a stop @ 1.99.. I know some of you would disagree with this stop so low but if you view the chart from our entry and the past movement and wipe away the 2 day failed blast-off.. one can see a chart with really cool volume growth and solid price movement that we are willing to speculate on. 

I know some of you have stopped out and sold for a profit.. awesome job!    Its all about your time frame.

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Position: bought PWAC @ 2.20 on 5/24/2006
Order: Hold
Exit: stop @ 1.99
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[learnstock]

Hi G,

  The above message says there is a stop @$1.99, but the update email says holding it,  not stop, which one is the latest? thanks

[AussieTrader]

PWAC although sold off a bitis still making higher lows and with the 50sma providing nice support on this rally gonna see if that 'support' can kick in again. A conflicting one for sure as it has potentially made a double top in the $2.50 area, so double top with strong support, will see.

[tokyopua]

Why the big selloff, I cant find any news?

[AussieTrader]

PWAC although sold off a bitis still making higher lows and with the 50sma providing nice support on this rally gonna see if that 'support' can kick in again. A conflicting one for sure as it has potentially made a double top in the $2.50 area, so double top with strong support, will see.

The double top won out.......