Today we will update both the Standard Portfolio and the OTCBB Portfolio. The standard portfolio’s RACK position made a nice move to the upside today. However, this stock looks like it is now becoming a bit over extended. As you can see from the chart below, it is touching up against its upper Bollinger band. We will be watching it closely tomorrow for a possible exit at the first sign of a pull back. Of course we will be looking for a reentry should we close the position tomorrow.

                               Chart courtesty of www.stockcharts.com

EMA - Our second entry in the standard portfolio has been moving sideways over the last few days. We will continue to hold it for now.

As for the OTCBB portfolio, GZFX.OB has approached the all important .01 support area. Recent news of the extension of its pilot program with Circuit City was not taken very well. We will continue to hold this stock for now as we have already banked a profit on the first half of this position.

                          Chart courtesty of www.stockcharts.com

SMKT.OB - This company filed a form 10QSB/A today. In it, SMKT describes some of its recent financial events. It states that SMKT.OB will be executing a 1 for 10 reverse split in order to complete the merger with Texas Prototypes. It also has some information about a standby equity distribution agreement which doesn’t seem to be too big a deal. We will continue to hold this stock in anticipation of the Texas Prototypes merger.

More to come,

SMG Staff