Small Cap Network Blog

OK Titan Global (TTGL) fans - or maybe I should say former Titan Global fans - the impending move from its bulletin board status to the pink sheets finally became a reality for Titan Global today…or yesterday actually. It was the least touted exchange switch I can recall, though I don’t think a single soul was surprised.

Equally unsung was the ticker switch…it’s now back to ‘TTGL’ rather than ‘TTGLE’. The ‘E’ was added while it was a bulletin board stock to let the public know their quarterly SEC paperwork was late. I guess in some sense there’s the benefit of reverting to a pink sheet status….the dreaded ‘E’ is removed. It’s about the only upside though.

Not that they’re required to do either, but a little notification would have been nice. I spent the better part of yesterday thinking they’re was something wrong with my data feed. The feed was fine - the ticker and exchange changed with no announcement whatsoever.

Somehow I keep replaying in my head a scene from one of the ‘Austin Powers’ movies. Dr. Evil, frustrated that his staff doesn’t keep him informed of pertinent information, goes into a soliloquy about the matter….”Throw me a frickin’ bone here! I’m the boss! Need the info!”

I guess technically I’m not the boss, nor did I ‘need the info’. It would have been nice though. Add it to the long list of things the company didn’t communicate to the investment community.

Anyway, as a pink sheet stock they’re no longer required to file anything with the SEC. So, there’s the test. If they choose not to file quarterly reports, the company is dead to me. Even if they choose to file reports (and strive to rewin a bulletin board listing), there’s still a lot of bridges to rebuild. I don’t want to say it can’t be done, but they used up all their trust from my end.

We’ll see, but I’m not wasting any space on my near-term watchlist. Maybe I’ll set up my calendar to remind me to check back in a year.

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Many of you have been asking what my thoughts were (and are) regarding the fiasco known as Titan Global Holdings (TTGL, or TTGLE…depending on the day). I tried to respond to the best of my ability, but didn’t want to permanently pass judgment until I could really figure out if the mess was real, or just perceived. After having had some time to scour all the recent filings, my official and professional conclusion is this - Titan Global is a joke…a complete and utter joke.

We’ll get to why in a second. First things first.

As far as passing out blame goes, I put myself at the front of the line. I fell for it. Though I’m one of the nicest and most open-minded guys I know (how modest of me), I’m also one of the most skeptical. I never really fell in love with Zupintra (ZUPC) or Enigma (ENGM) because there was always this little red flag waving in the back of my head. With Titan though, the pitch seemed so believable, and so well supported.

I take a little solace in knowing I wasn’t the only one. Some big institutional money got behind the company as well, proving the ‘pros’ don’t see everything either.

You know who else got fooled though? I’m being 100% serious when I say this…I think the management team actually talked themselves into believing they were turn-around artists. I never got that kind of conviction from Zupintra or Enigma, but Titan’s growth plan just seemed so ‘matter of fact’.

The only ‘fact’ left standing now is this…Bryan Chance (CEO) and his management team are dangerous because they don’t know how much they really don’t know about being a value-seeking conglomerate. Undervalued companies are good, but they have to be improvable (I know - that’s not really a word). Undervalued companies are good, but you can’t buy them for more than they’re actually worth (improved or not).  Undervalued companies are good, but you have to be sure the numbers they’re giving you are the real numbers.

Titan is guilty of all three of those things, just in the last few months.

1. Oblio Telecom - the telecom division that ’started it all’ - is now not only not better off in Titan’s hands, but it’s basically shut down. They haven’t paid any bills in three months.
2. Remember Appco Oil? The company generates about $400 million per year in revenue, but with net margins of only 1%. A top line is great, but I suspect TTGL paid too much for an anemic bottom line.
3. Titan is now filing a suit against USA Detergents, alleging the sales/earnings numbers they provided before the acquisition were fraudulent. If they were lied to it’s technically not their fault, but they should be able to spot a bogus story before signing a check.

As if that weren’t bad enough, Titan salted the wound by submitting their last SEC filing after it was due. I hadn’t realized it at the time, but it was the third late filing in two years. As a result, they now risk being de-listed and moved back down to the pink sheets.

What can I say but sloppy, sloppy, sloppy?

Be that as it may, the question to ask now is what do you do if you’re an owner.

First of all, I think the ‘investment’ value is gone. Even radical improvements across the board won’t undo general stupidity. We’re on the defensive here.

Second, I think the huge dip from late last year and early this year has already priced in most of these problems. Therefore, I think there is some short-term upside potential that will offer a better exit point than what we have now. It may be tomorrow, or next month. It may be at 50 cents, or $1.50. We’ll have to watch charts and cross reference the news, so stay tuned on that front.

One last thought - there’s an old saying “fool me once, shame on you - fool me twice, shame on me”. That’s pretty much where I am right now. It happens. It wasn’t the first time or the last time for any of us. However, if Bryan Chance is reading this…as ‘The Who’ says, we won’t get fooled again. Don’t forget the name, in case he takes the helm of another company.

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We’ve gotten a few questions about this, but odds are more of you were wondering. So…if you can’t find any quotes or information for Titan Global by using the ticker ‘TTGL‘, it’s because those shares are currently trading with the symbol ‘TTGLE‘. It’s a temporary ticker change.

What’s the extra ‘E’ mean? It’s something the exchanges do to let you know there’s either a filing or piece of information that is late, or incomplete. In Titan’s case, they were supposed to file Q1 results (for fiscal 2008) a couple of days ago. They haven’t yet, so the exchange is required to notify the market using the ticker change.

While it’s not the hottest of moves in terms of credibility, it’s also not a big deal. It happens more often than you might think, and often for very legitimate reasons. We’re not particularly concerned about the late filings…not nearly as concerned as we are about a plummeting stock.

All that being said, the company still announced what they’d be reporting once they got their official filings submitted. They’ll report record revenues of $122 million for the first quarter ending November 30, 2007, representing a $92 million or 307% increase from the Company’s $30 million in revenues for the same period the previous year. Not too shabby.

I know some of you apply candlestick chart theories to your trading, which I firmly believe can beef up your trading success. With that in mind, I want to point out a key candlestick pattern on small cap company Titan Global’s (TTGL) chart….something called a ‘morning star’. This bullish hint is often overlooked, as it takes three days to become evident.

Basically, we’re looking for three specific events spaced out over three days. The first day is a major loss, the second day is a smaller loss with evidence that the bulls and the bears have met an equilibrium, and the third day is evidence that the bulls have started to plow in again. For the most part, we can see all of these things simply by looking at the shape and height (and direction) of a stock chart’s daily bars.

Take Titan Global for instance. On December 17th, 18th, and 19th (the days boxed in on the nearby chart) we see a great example of a morning star bullish reversal pattern.

1. The first day we can see is very bearish…a tall bar (from open to close), and a substantal loss.
2. The second day is a doji, which just means the open and close are about the same. A doji tells us the bulls and bears were still standing toe-to-toe by the end of the day, despite trading higher as well as lower on an intra0day basis. For the purposes of a morning star pattern, the open and the close also both have to be under the first day’s close.
3. The third day should be confirmation that the buyers did indeed take over the reigns from the sellers on the second day. That evidence comes in the form of a strong move higher, beginning with an open above the second day’s close.

As you can see, the pattern worked out accurately for Titan. More importantly, it bodes well for a nice recovery move from one of our favorite stocks. And, the stock chart pattern performs pretty darn well most of the time. I think the reason most people miss these key patterns is they don’t look at charts more than one day at a time. If you do, I feel you’ll see many more important clues like this one.

Note that the morning star pattern tends to work beest following harsh pullbacks like the one we saw Titan go through.

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This small cap stock pick from early in the year was one of the best things we had going through Q3, but Titan Global (TTGL) has been something of a let-down since then. No big deal - stocks ebb and flow over time. In Titan’s case though, the ‘ebb’ is getting to a critical ‘make or break’ trading level again.

There are two key support lines I see here…the 200 day moving average line, and the 61.8% Fibonacci retracement line. The Fib line came into play three weeks ago, and the 200 day line is in focus for the second time in three weeks as well.

So far it looks like the market is interested in building a new base here. On the other hand, it’s still early in the game. As long as the $1.44/$1.49 area holds up, I think we’ll be ok. If it doesn’t? Well…we’ll burn that bridge when we come to it.

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If there’s one thing I’ve learned about our small cap stock pick Titan Global (TTGL), it’s this…things look worst right at a bottom. The people who have had the guts to buy TTGL on a dip have been well rewarded.

What inspired the observation? Titan’s chart took a beating on Friday of last week, pulling the stock from $1.72 to a low of $1.36. The beating, however, seems to have only been temporary. After reaching that multi-week low, this small cap found its way back up to a close of $1.59. Today (Monday) we’re up to $1.70….and rising. Could that have been the washout day we needed to go ahead and shake off all the weakness, so we can proceed to better levels? I believe so.

There are two things leading to me to that conclusion. First, the rebound began right as the 200 day moving average line was met. Second, the rebound began right as the 61.8% Fibonacci retracement line was met. Historically, it’s taken corrections of this magnitude to jump-start the bigger uptrends.

Take a look at the chart, but be sure to keep reading.

Where’d the selling come from in the first place? They announced 2007’s fiscal results on Friday. How anybody was surprised they took a loss was beyond me, but that was the initial response. However, I think the market is realizing today that it was within fiscal 2007 the company also swung to an operating profit (proof that the market isn’t efficient, especially in the small cap world).

If you were looking for an entry point, I think this is about as good as it might get.

Anyway, they’ve got a conference call today at noon EST to discuss 2008.

WHEN: Today, December 3, 2007, at 12 noon Eastern

• HOW: Callers within the United States may dial (800) 288-8961. When prompted, tell the operator that you would like to connect to the Titan Global Holdings conference call. International callers can dial (612) 332-0107.
• COST: The conference call is free of charge.
• WEBCAST: An online audio simulcast of the call will also be accessible at http://www.trilogy-capital.com/tcp/titan/

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Today’s news is kind of what I was talking about a couple of weeks ago when I detailed Titan Global’s (TTGL) entry into the often-government-supported world of biofuels. Per the Wednesday press release, we learned Titan had received grants from the state of Tennessee (where recently-acquired Appco Oil is based) to pay for the installation of biofeul pumps and storage tanks. It was only $190,000, so it’s not like winning the Super Bowl or anything. However, it does validate my idea that the biofuel industry is getting a lot of help from local and state governments.

Here’s the whole press release.

Did anybody else catch the recent news from small cap company Titan Global Holdings (TTGL). No biggie - it was just a progress report on their soon-to-be-operational Card Services division. I just thought last Thursday’s Small Cap Network newsletter “Titan Global: Dollars in the Details” was a nice segue into today’s news.

Basically, Titan found a couple of partners to help turn the concept into reality. CardMarte will be providing the technology and know-how, while MetaBank will handle issuance of the cards.

One thing in the press release that I may have gotten wrong on Thursday…some of these cards can be re-loaded. I had it in my head these would all be like the pre-paid phone cards you see in many convenience stores, which are only good for one-time use. That, however, isn’t necessarily the case.

Anyway, the one part of the story that hasn’t changed is this - I really like this small cap stock right now.

I have to admit I’ve had a lot of fun watching TTGL roll over the last 10 months. It’s almost been a textbook-perfect example of consolidation periods, followed by rallies, followed by consolidations, etc. Along the way we’ve also seen some clear breakouts above major resistance lines. Now we can add a triangle or wedge to the list of things we’ve seen from TTGL.

Titan’s lows and highs are framed by two converging lines, and that convergence is only a few days off. I suspect this stock will break out of this tightening range pretty soon. And, my guess is that it will pop up past the upper edge - past the ceiling at $2.20. We saw a handful of trades as high as $2.35 a couple of weeks ago, but it didn’t stick. This time around - with the support being made by the rising portion of the triangle - I believe TTGL will be pushed past that resistance for good.

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It’s about time this small cap company got past that nagging resistance at $2.20. I’ve been talking about it for a few weeks now to no avail. But this morning, small cap stock Titan Global (TTGL) topped September’s double peak of $2.20 by moving all the way up to $2.35. Folks, that’s a breakout move. It’s not a sure-fire sign of an impending rally, but it certainly seems to suggest one could pan out.

Better still is the volume behind the move - another key within the world of technical analysis. We’ve seen more than half of a million shares trade hands today, and we’re not even halfway through the session. It’s incredible because it’s going to end up being the highest volume day in years (and maybe even ever, if things continue at this pace).

The catalyst? That’s the weird part. The only real news that coincides with the surge is yesterday’s reiteration of the 2008 revenue forecast, and the publication of the 2008 operating earnings forecast. The numbers were good, but not a surprise. And truthfully, the top line expectation actually shrank a little bit from the number they gave us on September 5th.  

The market doesn’t seem to care though - they want it, and want it bad. So, who am I to stand in the way? If that’s what it takes to push TTGL into a fair valuation and closer to our target, then so be it. I’m just glad everyone else is finally agreeing with what we’ve been saying about this small cap company since January. Just for the record, anybody who jumped in then is now up about 74%.

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I think Titan Global (TTGL) has been one of the best small cap stories of the year, and certainly one of our best small cap stocks picks from earlier in the year. Yet, I still believe the best has yet to come. Translation: I feel this stock could still have some more room to climb before it’s all said and done.

Anyway, if you’d like to find out for yourself just what’s going on, you’ll have your chance on Thursday. Titan’s hosting a conference call for investors, presumably to speak about yesterday’s forecast, but also to catch everybody up on all the recent news. If the call is anything like the previous ones, you’ll also get a few hints about what’s coming for the company.

WHO: Titan Global Holdings
WHAT: Investor Conference Call
WHEN: Today, October 18, 2007, at 12 noon ET
HOW: Callers within the United States may dial (800) 700-7353. When prompted, tell the operator that you would like to connect to the Titan Global Holdings conference call. International callers can dial (612) 332-0342.
COST: The conference call is free of charge.
WEBCAST: An online audio simulcast of the call will also be accessible at http://www.trilogy-capital.com/tcp/titan/

Are you a subscriber to the Small Cap Network newsletter? If not, you’re missing out on some great trading ideas and exclusive market commentary. To sign up, just go to the top right corner of any page of our website. You’ll be joining thousands of other subscribers who have already benefited from our news and views.

Back on September 5th we took a good look at small cap company Titan Global’s (TTGL) revenue guidance for fiscal 2008. With the acquisition of AppCo and USA Detergents, the company forecasted a top line of $747 million. Today, Titan updated those numbers in addition to publicizing their earnings projection. Let’s just say we’re having an increasingly-difficult time calling this a small cap company, even if the capitalization currently says it is.

The projected revenue range is now $735 to $747 million. Earnings, not counting warrants and convertible debt, is expected to be somewhere between $15 million and $17.5 million. That translates into $0.24 to $0.28 in earnings per (diluted) share.

Those are record-breaking on all three fronts, validating our discussions and encouragement from nine months ago.

If you want the division-by-division breakdown, click here for the full press release. I’m more interested in the stock and how it might respond.

Specifically, I’m hoping this will rock the boat enough to get TTGL past that nagging ceiling around $2.20. We didn’t finish today pointed in the right direction, but shares remain within visual range of that resistance line.

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We finally got the much-anticipated resolution of the dispute between our small cap company pick Titan Global (TTGL) and mega-telecom provider AT&T (T). The $60 million in universal service fees (USFs) being disputed wound up being settled with a modest $7.2 million.

Though the number is dissappointing, I think getting this behind them is worth any dollar amount. The whole thing was supposed to be finalized by July, and I’m sure dragging it on was not only costly, but a distraction.

The dollar amount? I know it’s nowhere near $60 million. On the other hand, I don’t know that Titan ever actually expected the whole $60 million. I believe they high-balled the amount, expecting to get a good fraction of a larger number than a fraction of a smaller number. As they say though, possession is 9/10 of the law. Once AT&T possessed the dollars, it was going to be tough to get any out of their hands. Getting $7 million at all is impressive.

Besides, this thing could have costed millions more to keep pursuing. Though it stinks, a large cap company like AT&T can afford to keep an army of lawyers working on the arbitration (it wasn’t handled in court, but through an arbitrator). As a small cap company, it probably just didn’t make financial sense for Titan Global to keep fighting.

In any case, the market seems to be ok with the news. Shares were up Friday, and we’re seeing some follow-through today. Remember, we pegged $2.20 as the potential breakout point. TTGL is at $2.15 as of right now.

Are you a subscriber to the Small Cap Network newsletter? If not, you’re missing out on some great trading ideas and exclusive market commentary. To sign up, just go to the top right corner of any page of our website. You’ll be joining thousands of other subscribers who have already benefited from our news and views.

We actually got this question about our micro-cap stock pick Titan Global (TTGL) via e-mail. However, I’ve been meaning to do a blog entry on this very thing anyway. So, two birds, one stone.

I was able to get into SPKL@.80 thanks! But what is happening with TTGL are you unloading your shares? Are you going to to the same w/SPKL? Thanks

We don’t have any TTGL shares. We have warrants at $1.00, but haven’t converted any yet. Even if we did, they’d be restricted shares. So, the TTGL dip isn’t anything we’ve done.

As for SPKL, we sold some…I think on the first trading day after we covered it, which was September 24th. We sold about half of what we owned. I doubt we’ll sell anymore for a while. We also own very little compared to the daily volume now, so I don’t see us having an impact there either.

You can always monitor our activity from this disclosure page.

Now, back to Titan Global’s chart….

I’ve been patiently waiting for the break past $2.20. We saw a couple of attempts a few weeks ago, but it just wasn’t getting any traction. Then when I saw the stock fall all the way to $1.70 yesterday, I just figured it wasn’t going to happen. Then when I looked at the same chart a few hours later, I started to think maybe that’s exactly what the doctor ordered.

Why? It was a full 38.2% retracement. That may have been enough of a dip to wash anybody out, and let all the second-chancers in. With that mini-capitulation out of the way, I feel TTGL now has a better shot at getting somewhere. Just a thought.

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The management team at Titan Global (TTGL) sure doesn’t mess around, do they? It was just a little over a month ago the company mentioned they’d like to make the move from being a bulletin board stock and graduate to a NASDAQ-listed stock. We figured it would take several weeks to get all their affairs on order and qualify, but apparently they’re almost ready right now. The plan is to apply by September 30th.

By the way, here are some of the basic requirements to achieve a NASDAQ listing (the combination of minimum requirements can change, depending on various factors, but this is a basic framework)…

• Pre-tax earnings: More than a total of $11 million over the last three years, and more than $2.2 million each of the last two years, and positive earnings each of the prior three years (yes, there’s overlap in the timeframes)
• Market cap: An average of greater than $550 million over the last 12 months
• Revenue: More than $110 million in the previous year
• Stock price: Greater than $5 per share
• Shareholders: A minimum of 450 (or 2200, depending on other factors)

Anyway, that should give you a broad idea of the starting point. Though there’s no guarantee TTGL will be listed on the NASDAQ with this application, I do know that the company is either close to, or has surpassed, most of these minimums.

Is this huge for Titan Global shareholders? You bet. I think this - more than anything else - is what small cap investing is all about…getting in early before a company really hits it big. It may be only a 1 in 50 occurrence, but well worth it when it happens.

Anyway, for the whole story (and a quick recap of the company’s recent history), just click here.

As for the stock, most of you probably know I was watching $2.20 as a potential breakout point. That’s where TTGL peaked a couple of times over the last few weeks. Though shares have eased off a little after the most recent attempt, the overall strength (and investor interest) has kept shares within striking distance. And, we’ve not seen these shares sink under a longer-term support line that’s come into play as a result of the recent rally.

A few days ago I mentioned I was a little relieved Titan Global (TTGL) was finally pulling back a bit. The run from July’s low of 95 cents to September’s peak of $2.05 was huge, and the chart said things were getting a little - ok, a lot - overbought. I was hoping we would get a nice, healthy pullback all the way to about $1.72. Why? That’s where the first Fibonacci retracement line was, using July’s lows as a baseline. (The Fib lines are the blue horizontal lines.)

Well, even though we didn’t get that full correction (the stock only made it back to $1.84), it seems as if the selling we did get was enough to let the buyers reload. TTGL appears to be working on its next bullish leg. We’ve seen higher closes and higher trading ranges over the last three days. Volume has remained fairly strong. The jury is still out on today, but I’m still thinking the bulls are back on track here.

The one thing I’d rather see….a touch of the 20 day moving average line. On our chart, it’s blue. That was a good restart point in September, as it provided support for the second big bullish push. Of course, ‘wanting’ and ‘getting’ are two different things. And, the market doesn’t seem to mind TTGL still being a little overbought.

All that being said, look what happens when you move the baseline of the Fibonacci lines to August’s low of $1.34. All of a sudden the retracement to $1.84 is a full 38.2% pullback, satisfying my ‘full correction’ pseudo-requirement to start another upside move.

I don’t know if one set of Fibonacci lines is better than another, but I do know it looks like this stock is itching to go higher. A pullback all the way to the 20 day line from here would be a screaming buy in my book, but I’m not sure we’ll get that chance. 

This one is turning out to be one of our hottest stock trading ideas of the year. Titan Global Holdings (OTCBB: TTGL) is up 80% since we first picked it on January 13th, and it seems like every day now we’re learning a new reason why it’s on a roll. The latest addition to the collection is their 2008 revenue forecast…they’re looking for $747 million in fiscal 2008. Just for comparison, they did about $109 million in fiscal 2006. At that rate, this small-cap stock may be a large-cap stock sooner than you know it.

For all the details, just click here. The news release breaks down all the major pieces of this conglomerate (telecom, PCB, energy, card services, Titan Global brands) into their respective sales potential.

As for the chart, what’s not to like if you were in the trade when we first told you about it? Or for that matter, even if you got in when we pounded the table again on August 1st you should still be well up.

If you didn’t get in, I don’t know that now would be the best time. This stock has rallied from $1.05 to about $2.12 in a little less than six weeks…a virtual hot potato, and deserving of a break.

I think the $1.70 area might be a great re-entry point, which would be a 38.2% retracement of the recent move. By the time we got back there, the 20 day moving average will be able to provide some support. On the other hand, I was looking for a pullback a few days ago, and the stock just kept right on going like the Energizer bunny. This time though, it looks really over-extended.

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Frankly, I’m not a bit surprised. Moreover, I think this could pretty much wipe up any lingering credibility issues. What I’m talking about is Titan Global Holdings (OTCBB: TTGL). It’s currently a bulletin board stock, but plans on applying to trade as a NASDAQ-listed stock by the end of September.

The end result of such a fortunate move is simple….better visibility, credibility, liquidity, etc. You know - all the things you want from your stocks.

It’s not a sealed seal yet, though I don’t believe Titan would bother applying if they didn’t think they were going to win listing approval. And yes, I see it as yet one more reason to own TTGL.

For the full story, click here.

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I’ll just take care of three observations in one shot here. Though they’re certainly not the only charts worth watching right now, I think Titan Global’s (OTCBB: TTGL), Stockgroup’s (OTCBB: SWEB), and BioCurex’s (OTCBB: BOCX) charts all deserve a little extra love today.

First up, Titan Global. You all know this one’s been on a rampage for a while, but yesterday’s 20 cent pullback (on a closing basis) was a little bit un-nerving. (Even more un-nerving was the high-to-low span from $1.79 to $1.34 over the prior two days.) However, like the champ I think it is, TTGL has already found a stable footing, and is in positive territory for the day. The 20 day line seems to be the upside catalyst. I think that dip from Wednesday was plenty big enough to flush out any overbought pressures, which means the road is cleared for another bullish leg.

Has anybody else noticed BioCurex shares are perking up again? Volume has been solid as well. That’s not to say it’s looking enticing again - it appears the 50 day line is still acting like a ceiling. However, something has changed here. As we’ve been saying off and on for weeks, I think BOCX is a dark horse that should be monitored continually. The stock has the potential to fly, but I don’t think anybody else believes that. That’s why I like it so much….or will like it when I see some of those walls get knocked down.

Just one day after releasing their earnings, Stockgroup is getting hammered. SWEB shares are back under their 200 day line….a little surprising considering the quarterly results were pretty good. Though I ultimately think this company is the real deal (and will deliver as they’ve described), I don’t know if I’d feel good about buying on this dip. I equate it to trying to catch a falling knife. If you’re in, be smart - don’t get married to any stock. If you’re not in but want in, I think things might get worse before they get better. Maybe we should all use the 200 day line as the yes/no signal.

By the way, on all these charts, the timeframes for the moving averages are 20 (blue), 50 (purple), 100 (red), and 200 (green).

Like I said about ten times in the last month, Titan Global (OTCBB: TTGL) has been in a rally mode. Today, with the move to $1.59, TTGL is at new multi-year highs. The potential resistance at March’s high of $1.49 has been breached. The volume behind the move has been good. Best of all, there still seems to be lots of gas in the tank.

I hate to say I told ya’ so, but, I told ya’ so. We’re now 59% above last month’s low of 99 cents. Hope you were listening.

The one thing I was curious about was whether or not this move was entirely rooted in the company’s stock buyback plan. Titan was looking to buy back up to four million of its own shares. per the announcement made on May 9th.

My conclusion is, it’s not all from the repurchase program. The first wave of the buyback was less than half of the stock’s total volume. So, their pace has been pretty well contained. It’s the market taking the ball and running with it. A hefty 1.4 million shares have traded hands since July 23rd. That’s organically-grown interest, I believe.

Anyway, despite the recent run, don’t forget our target is still $3.00. You might get a dip to buy into, but I’m not certain about that at this point; this is a pretty strong move that has gotten a lot of attention. 

….in more ways than one. We’ve been watching (ok, staring at) Titan Global’s (OTCBB: TTGL) chart for several days now, amazed by just how well it’s been moving now that it’s in break-out mode. As of yesterday, my imposed resistance line at $1.40 was breached with the high of $1.43. I figured TTGL was due for a breather, but it turns out there’s still plenty of juice left. We’ve already seen a high of $1.45 today, and the heat is still turned on high.

What inspired this round of interest? Another acquisition. Titan is buying USA Detergents Inc. As the name implies, they manufacture cleaning well-known household products like Brillo pads, Oxymax, Touch of Glass, and Arm & Hammer branded lines. They’ve also got some food lines, like Betty Crocker and Snapple.

Titan’s attraction to this particular company was the common distribution channels shared with USA Detergents - many of Titan’s telecom products (pre-paid phone cards) are already in the same retail/grocery stores as USA Detergents’ lines are.

If you’re looking for a diverse holding company on a growth path, Titan sure seems to be it. I like the addition of a complementary business, as it should provide stability to their total revenue base. For more on the acquisition, here’s the press release.

I have no word yet on the details of the deal, but will try and find what I can as soon as possible. I suspect USA Detergents is a lot like the Appco acquisition in the sense that its potential is outstanding, but relatively untapped. That’s the value Titan sees - being able to improve things with minimal input but achieve maximum output. More soon.