PASHealth (OTCBB: PASO) - When does ugly start to become attractive?
It's somewhat difficult to know where to begin to describe the market action this week, because the market itself was literally all over the place. The financial sector and oil prices were the primary reasons for the volatility we saw these past 5 sessions.
U.S. stocks fell for a sixth week, sending the Standard & Poor's 500 Index down 1.9 percent to 1,239.49, the lowest since July 2006, completing the longest streak of weekly declines since July 2004. The Dow average fell 1.7 percent to 11,100.54 for its fourth weekly drop.
The declines left the S&P 500 and the Dow down 16 percent for the year as earnings season enters its second week. Eight of the 30 companies in the Dow average and 62 S&P 500 companies are scheduled to report results next week, beginning with Intel Corp. and Johnson & Johnson on Tuesday.
So the overall outlook is gloomy to say the least and the public feels it and understands it. It is something that everyone is dealing with and something that we all have to face. But when will it start looking attractive?
We have been seeing the market fall for the past 9 months straight and it is definitely at a stage when we are seeing extreme volatility and huge volume. In the past, this has shown to be a time when the market rebounds either way. It doesn't mean the market changes its trend, but it usually takes a break from the current direction it has been going.
There is no way to call a bottom, nor should anyone, because no one has the foresight to see that. The market will do what it does and when it does turn around, believe me, there will be plenty of people who claim they called the bottom.
We are in a seller's market right now and buy orders are hard to come by. If you are long any stocks today, you simply need to have a long term outlook. You are buying companies that have the potential to go up over the next few years.
ORIGINAL ALERT INFO :
ALERT DATE & PRICE: 07/07/08 @ $.97 ALERT EMAIL:CLICK HERE CURRENT PRICE: $.70 CURRENT % ROI: -27%
COMPANY CONTACT INFO:
PATIENT ACCESS SOLUTIONS, INC.
245 Marcus Blvd.
Hauppauge, NY 11788 PHONE: (866) 280-1156 FAX: (631) 233-3739 EMAIL:
This email address is being protected from spam bots, you need Javascript enabled to view it
WEB:www.pashealth.com
PASHealth has been getting beat down along with the market as it try's to find a bottom. If you have been watching the intraday trading activity (5 minute chart to the right), you saw the stock reach a climax in selling at around 10:00 AM EST. Seller's came out pounding the bid as the overall market was tanking and then it stopped and bids started coming in.
The Level II showed a strong bid as the stock began to climb higher from a low of $.60 to close at $.70. By looking at the chart, we might be able to see the stock break the $.85 level and from there, we could see the stock test $1.
What is great about PASHealth, is that even though we are officially in a bear market, PASO's products are for the Healthcare Services Industry, which economists consider to be recession-proof. They will receive orders no matter what is happening with the economy.
As most of our members know, the company is currently beginning contract discussions with one of the major Home Healthcare Agencies. If this does in fact come in and the contract is for a very large order, $.70 a share will be considered cheap for the stock.
You have to know, that if one of these major Home Healthcare Agencies commits to using one of their products, it will open the door for so many more bigger contracts. It will validate everything the company has been building for the past couple years and the other majors will probably follow suit.
For all of the new members who have signed up this weekend, read the following snippet from a PASHealth press release put out this past Tuesday:
“We recently started 3 different pilot programs with 3 major Home Healthcare Agencies located in North America, with over 35,000 nurses combined, and so far the feedback has been extremely positive. We are currently beginning contract discussions with one of the major Home Healthcare Agencies.”
If you want to see a quick breakdown of their pricing structure and what it will mean to the bottom line if they do close a certain percentage of the 35,000 nurses: CLICK HERE.
The market could see a bounce next week that could last for a few weeks as the shorts begin to cover their positions and we could see PASO's stock move higher, especially if we have any big news come out.
ALFONSE
StockwireAdmin
It's somewhat difficult to know where to begin to describe the market action this week, because the market itself was literally all over the place. The financial sector and oil prices were the primary reasons for the volatility we saw these past 5 sessions. 