Buy Alert - GV, HEC, IIP, MZT

The weak market recently has drove many stocks and major indices down tremendously. However a down market not only shakes out the weak hands but also creates buying opportunities for the bargain hunters. Here we have found the following penny stocks that should be started to go higher after recent pull-backs:

• Goldfield Corp. (GV): after rising steadily for almost a year from last May to end of March, shares of the Melbourne, Florida based electrical construction and maintenace services company began to soar from $1 around end of March to as high as $2.84 in early May. The May sell-off send the stock back near 50 day moving average in late May and the stock is now trading at $1.55 per share, down about 45%. For the bargain hunter still sitting at sideline, this should probably be the time to buy at the stock held on at 50 day moving average and has began to rise again. In addition K line is now again on top of D line indicating possible new rally. Low ROC at oversold level should also attract more buyers.
• Matritech Inc. (MZT): since the 50 day moving average rose on top over 200 day moving average again in mid February, the Newton, Massachusetts based biotechnology company has been back to bull market again after six years of sliding. Although the May sell-off pushed the stock from 52 weeks high of $1.56 down to today's closing of $1.07, down 31% in a month, the stock still stayed above 50 day moving average and is poised to rise again on rising KD. In addition the record volumn which push the stock up and was last seen in 2000 should mean this is finally the time for the stock to reverse the downward trend.
• Internap Network Services Corp. (IIP): after two years of miserable performance, the Atlanta, Georgia based Internet service provider for business customers has been alive again since mid February of this year, seeing its stock surged from about 50 cents per share to as high as $1.55 in May, trippling in stock price in three months. The recent pull back has created new buying opportunity as the stock has bouced back up again after hitting 50 day moving average. Technical indicator KD signals buy as K line is on top over D line. In addition since ROC is low meaning oversold, the stock should also attract bargain hunters.
• Harken Energy Corp. (HEC): it is really hard not to look at this penny stock since the Southlake, Texas based company is in one of the hottest sector today - oil drilling. This Gulf Coast oil driller has definitely been helped by the skyrocketting oil price as for the past 52 weeks it has gained as much as 110% from 46 cents per share last June to 98 cents per share this April. The sell off in May cut the stock back to 200 day moving average at 69 cents per share but is sparking new buying opportunity as K line is rising on top of D line. If the stock can keep holding above 200 day moving average which it has been doing for more than half month, we should see new rally coming very soon.