Early this morning I received an alert to check out a relatively new penny stock, Blast Applications (BLAP).  I should have investigated the alert a little further but I was rushed for work and pushed it aside to review later.  Later, as it turned out, was after the market closed for the day…and it was a good day for BLAP.

After an explosive day on the market Blast Applications  closed at $0.0529 gaining a whopping 245% from the previous day’s close.  Whoops, I  missed a great entry point on this penny stock!  As it turns out this massive gain comes following last Fridays new announcement that Blast Applications was accepted into the coveted Apple iPhone Developer Program to develop applications for sale on the Apple iTunes App Store.  Blast Applications CEO, Dino Luzzi, recently stated:

"With nearly 2.4 billion dollars worth of applications sold for smart phones, the market potential is enormous. Having the ability to sell our applications through Apple's iTunes App Store is a huge step towards that market." 

I couldn't agree more.  I don't have an Apple iPhone but I do have an Apple iTouch which is also an amazing device with thousands of useful applications.  Right now I use a slick ETRADE application to monitor my stocks when I'm running through airports or on the road.  And here's something else for you…Steve Jobs recently announced:

"The rate of App Store downloads continues to accelerate with users downloading a staggering two billion apps in just over a year, including more than half a billion apps this quarter alone." 

Wow.  The demand for quality applications is staggering so I think it's safe to say Blast Applications is well poised to profit from a piece of the market. 

And it gets better.  Earlier today Blast Application announced it has officially launched newly acquired and fully developed website, www.tweexchange.com.  According to a press release by Blast Applications

Tweexchange.com is the fastest and easiest way to search Twitter Usernames and Internet Domain Names at the same time. Tweexchange.com also unveiled a new integration with GoDaddy, the world’s largest domain name registrar. Through the Domain Name search, users can Backorder and Register Domains using GoDaddy. If a name is taken and is currently listed for sale on Sedo.com, members can also try to purchase names through the site using the Sedo API.

As a domain investor I think this a very progressive concept for overall brand recognition.  Every business would naturally want to match their Twitter account name to their domain name but with over 50 million users on Twitter you may be out of luck.  Tweexchange.com assists web developers and business owners towards acquiring the best domain name for their website.  Nowadays a matching Twitter account with your domain name could significantly increase the resale value of your web real estate.  Cross-referencing Twitter and GoDaddy with Tweexchange.com also enables their members, for a fee, to be notified when Twitter Usernames and Internet domain names become available from being in a suspended state.

With these facts in mind and looking at the great support levels for BLAP I decided to order 27,450 shares of BLAP.  I'm really NOT a regular investor in penny stocks but I feel this particular stock, along with bankrupt CITGQ.PK, offer excellent profit potential. 

I'll keep you posted.  God bless!

About Blast Applications, Inc.

Blast Applications, Inc. (“Blast”) is a premier creator and developer of applications for iPhone®, Twitter® and Facebook®, that allows users to have more fun, be more productive and make social media sites easier to use and more intuitive than before. Social media sites are growing fast all around the globe. Blast Applications has a unique opportunity to monetize the web surfer’s dedication to sites such as Twitter® and Facebook®, and through direct advertising programs tied to the Company’s tools and applications. For more information visit www.blastapplications.com.

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The tax credit was scheduled to expire on 1 Dec 2009 but is now extended until 30 Apr 2010. Good deal.  In addition, if you're toiling through a long short sale process (like I've been) don't sweat it!  .  If a signed contract is entered into before 30 Apr 2010 you'll still be eligible for the credit if you close on the house by 30 June 2010.

There's much more jammed into the new Worker, Home Ownership and Business Assistance Act of 2009 but I won't bore you will all the minute details.  If you're in the market for a new home or even thinking about , purchasing your first home I encourage you to visit: http://www.whitehouse.gov/the-press-office/fact-sheet-worker-homeownership-and-business-assistance-act-2009

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CIT Group like so many other lenders made some seriously bad decisions and got caught up in the subprime mortgage debacle that came to a head towards the end of last year.  Although the centennial bank holding company received 2.3 billion from the government under the Troubled Asset Relief Program last year the government did not award CIT a separate program that would allow it to issue debt at low interest rates. 

On November 1, 2009 CIT Group Inc. (CITGQ.PK) shares plunged 65% to .25 cents after the lender filed Chapter 11 bankruptcy.  Almost immediately following on November 3, 2009 CIT Group announced that the U.S. Bankruptcy Court scheduled a hearing to consider prepackaged plan of reorganization for December 8, 2009.  That is good news.

According to documents reviewed by The Wall Street Journal about 700 companies have a total of $3.9 billion in undrawn revolvers from CIT. Many are small businesses that obtained revolving facilities of about $10 million to $50 million in size. CIT is the sole or main lender to two-thirds of these companies, and a failure of the lender would leave many without access to funds.  With this in mind the the prepackaged plan of reorganization scheduled for December 8, 2009 could very well fall in favor for the bank holding behemoth. 

At just .$018 as of November 6, I'll take a significant risk and order 9,600 shares upon market opening this Monday.  At worst I'm only out $1700 but there is the potential for a nice return over the next six months.

About CIT Group (CITGQ):

CIT is a bank holding company with more than $60 billion in finance and leasing assets that provides financial products and advisory services to small and middle market businesses. Operating in more than 50 countries across 30 industries, CIT provides an unparalleled combination of relationship, intellectual and financial capital to its customers worldwide. CIT maintains leadership positions in small business and middle market lending, retail finance, aerospace, equipment and rail leasing, and vendor finance. Founded in 1908 and headquartered in New York City, CIT is a member of the Fortune 500. www.cit.com

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Luke 12:15 – Then he said to them, "Watch out!  Be on your guard against all kinds of greed; a man's life does not consist in the abundance of his possessions."

As a brand new stock investor I’ve just tasted my first dose of financial hindsight or as I now realize greed. Thankfully this time it was a painless lesson from the Lord.

After the market collapsed late last year literally dozens of high quality stocks tumbled far below their true value. Experienced investors had a literal smorgasbord cleaning up and fattening their portfolios with excellent, profitable and well managed companies held hostage in the global market turmoil.

For new investors such as me it was probably the absolute worst time to enter the market…or so I’ve been told. All in all I’ve bought roughly 6-8 stocks and have fared pretty well (up 240%) thus far with the good Lords blessing. I’ve learned what to look for in stocks, how to read in between the lines of press releases and how to remain emotionally detached with my stocks. What I’m still learning, as I’m sure many are, is how to become a more confident investor.

Back on February 2, 2009 my first financial “opportunity of a lifetime” arrived by the name of: Ashland Inc. (ASH).

ASH is a distributor of chemicals and plastics, and a manufacturer of chemical specialty and performance products. Most notable of these products is their brand Valvoline, maybe you’ve heard of that.

Anyhow, back in February ASH was trading at a paltry $7.28 when in February 2008 the stock traded at $45-$47. In June 2008 it peaked at $58 before the financial collapse pushed the stock all the way down to a criminally low price of 7.34.

This was and still remains my best stock purchase to date…but I’d didn’t fully pull the trigger. With all the data I had pored over I decided to be cautious and bought a mere 80 shares. After all, this was my first stock purchase.

And then ASH skyrocketed.

It absolutely destroyed projected targets and continued to climb. Now seven months later ASH closed $43.82 and continues to climb.

As I reflected on my decision in utter agony thinking about how much money I could have made investing in hundreds of shares of ASH I realized that sometimes hindsight is 20/20 greed.

I thank the Lord for his generosity and many blessings in my life. Here I am with a stock up 480% and I’m annoyed I could have made more money with it! Tsk, tsk.

As Jeremiah. 6:13; 8:10 tells us "everyone is greedy for gain.” Forgive me Lord and thank you for teaching me a valuable lesson as a Christian investor…

Fortune favors the bold. Just kidding, it everything I have is from the Lord and it is always enough.

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Due to the current financial debacle we’ve been witnessing these past few weeks I’ve been forced to re-evaluate how I invest what the good Lord has blessed me with. I’m no Warren Buffet…yet…so for the immediate future I’ve decided to sit on the sidelines and invest my capital in more secure alternatives rather than the stock market. Have I lost faith in the stock market entirely? No, but since I do not have decades of stock experience and hate the fact of someone else managing my money I’m sticking with a tried and true plan to weather this financial storm. Here’s my simple plan…free of charge:

1. Checking Account With Charter Bank: http://www.charterco.com/personal/turbo.cfm

Under the Charter Turbo Checking Account you’ll earn 6.01% Annual Percentage Yield (APY) on all balances from $0 – 25,000. This is NOT an introductory offer provided by Charter making them probably the highest entry level checking accounts you can find. You’ll earn 1.01% APY (rate of 1.01%) on all amounts above $25,000, and 0.25% APY on all balances if the requirements are not met each statement cycle.

• 6.01% APY* on balances to $25,000
• 1.01% APY* on balances above $25,000
• 0.25% APY* if requirements are not met**
• No ATM Fees Nationwide
• Overdraft Privilege
• Free Online Bill Pay

To earn the 6.01% APY on this high interest checking account, you must:

• Make at least 13 debit card transactions monthly (excluding ATM transactions)
• Receive one direct deposit or ACH auto debit monthly
• Receive your monthly statement electronically (e-statement)
• Access on-line banking at least once before month end

From a marketing perspective I’ll probably redirect my direct deposits from Commission Junction, Shareasale, Linkshare, Google Adsense and Yahoo! Publisher over to Charter Bank and redistribute the balance over $25K to other investments (i.e. Money Market Accounts, CDs, etc.).

2. WaMu Online Certificate of Deposit Investing (CD): https://www.wamu.com/personal/certificate_deposit/online_cd/default.asp

I know you see Wamu and are probably thinking that’s a bad pick. However, with JP Morgan Chase running the show now I don’t think you have anything to worry about. Just before this acquisition WaMu was running a lucrative promotion to get some much needed capital. The’re CD Online will earn you 5.00% APY on a 1yr turn with a minimum deposit of just $1000.00. As far as I can tell there is no cap on that. That is a pretty good rate by any standard so you’ll probably want to lock yourself into this great rate for a year before JP Morgan pulls the plug.

3. EverBank Yield Pledge Money Market Account: http://www.everbank.com/001MoneyMarketYP.aspx

At the time of this post EverBank has the highest APY out of any of the entry level Money Market Accounts I’ve seen. If you set up a Yield Pledge Money Market Account you’ll earn a hefty 3.82% APY and as a bonus you’ll earn 4.65% APY for the first three months. Most decent MMAs are between 3.0% (like the raved over ING Direct) and up to about 3.75% (like OnBank). With the Everbank MMA you’ll need to invest a minimum of $1,500 but you can invest up to $50,000. In addition, unlike some MMAs which seem to charge you for everything there are no monthly fees as long as you keep your balance over $1,500. Otherwise you’ll be charged a monthly fee of $4.95.  There is a $6/month transfer and withdrawal fee but that is also negligible.

I’m pretty sure I’m not the only novice investor who is a little leery about investing in the stock market at the moment. Unless you really know what you’re doing it may be more prudent to just hang in the wings and slowly grow your money in safe havens for a while. Hopefully this will help you identify some solid investment opportunities to grow your nest egg. Otherwise just dig a hole in your backyard or stash your dough under the mattress for safekeeping!

*To review the very best Checking Account, Savings Account, Money Market Account and Certificate of Deposit rates available please visit http://bankcd.com/. The list is updated daily and I’m sure you’ll find some amazing rates that will meet your short/long term investment goals.

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Last week we saw the unprecedented move by the US Federal government when they seized the assets of floundering mortgage goliaths Freddie Mac and Fannie Mae.  In doing so they instituted a 15 month nationalization program which was popularly viewed as a temporary necessity in order to curb the further unraveling of the national credit problem.  It was intended to preserve the capital of both public and private funds to include public pensions, which were a significant holding of both Freddie Mac and Fannie Mae.

Treasury Secretary Henry Paulson recently stated:

A failure of [Fannie Mae and Freddie Mac] would affect the ability of Americans to get home loans, auto loans and other consumer credit and business finance.

Paulson goes on to state:

The new administration must decide what role government in general, and those entities in particular, should play in the housing market.

This 15 month nationalization program is merely a bandage on an open wound needing surgery.

In an interview with CNBC Jim Rogers, CEO of Rogers Holdings, stated:

America is more communist than China is right now. You can see that this is welfare of the rich, it is socialism for the rich… it's just bailing out financial institutions…This is madness, this is insanity, they have more than doubled the American national debt in one weekend for a bunch of crooks and incompetents. I'm not quite sure why I or anybody else should be paying for this.

I tend to agree with Mr. Rogers.  Why should you and I be on the proverbial hook for 5 TRILLION DOLLARS in bad housing loans!  In essence every hardworking American taxpayer is now paying for the risky and irresponsible financial recklessness of these loan institutions who were more than greedy to reap enormous profits.  Freddie Mac and Fannie Mae, NOT the American taxpayers, should be made to bare the burden their losses have created.

Even our neighbors across the pond at Independent Strategies, a London Based Economics Firm, stated:

The US government takeover…makes the US the most socialist system in the world outside of places like North Korea and Cuba.  It will have 75% of its current housing finance and the majority of its remaining capital allocation being financed with credit that is directly the result of government and federal intervention.

Unfortunately many Americans won't understand the lasting implications and ramifications of this action.  Remember the abolition of the Gold Standard of 1971 by president Nixon?

I won't even mention the 85 billion dollar federal government AIG bailout we had this week…So what's your take people?

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