It's Been Quietly Gaining Steam

The geothermal sector has been quietly steaming for some time now.

Often overlooked when it comes to cleantech fanfare―I've even called it the bastard child of renewable energy―it's only a matter of time until the industry gains rock star status.

Unlike wind and solar, geothermal is one of the few clean sources of energy that can provide baseload power without storage devices. And while it may not have the same sex appeal, the use of geothermal energy will quietly double in the next six years.

That's great news for investors.

Even better, the geothermal space isn't crowded with public companies, so the profits generated will be much more concentrated.

The smart money is already beginning to take notice, so you'll want to start sniffing around, too.

Here's what you need to know about investing in geothermal energy companies.

Geothermal Energy Companies: Tortoise and Hare

When it comes to geothermal investments, they can either be sure and steady or fast-moving and erratic ― sometimes the best stock can be both.

You see, geothermal energy in its current form has been around for some time. The first plants came online back in the 1970s.

Since then, the sector has been largely dominated by large global conglomerates like GE, Siemens, and Mitsubishi. The only pure play has been Israeli-born Ormat Technologies (NYSE: ORA).

That company has been and will be the benchmark of the industry. Any Green Chip investor worth his salt should own shares of this company. Here's why:

This is the geothermal tortoise.

Of the 24 geothermal plants commissioned since 2004, Ormat has provided the turbines for 12 of them. Expect that trend to continue.

If geothermal turbine production companies are the tortoises, then geothermal energy production companies are the hares.

This is because many of them are smaller companies, reliant upon signing power purchase agreements (PPAs) for revenue. Getting to that point is an expensive journey, comprised of drilling test wells, acquiring permits, and securing transmission.

The successful completion of each of those steps is a major milestone for any small geothermal company, and can send stock prices soaring.

Such was the case recently when Nevada Geothermal (OTCBB: NGLPF) announced drilling results for their Faulkner 1 geothermal project at Blue Mountain, Nevada.

According to the results, announced in late March, "The latest three production wells based on initial testing, have similar production capacities (7.0-7.5 MW) to the original three wells."

Look at the stock's hare-like performance since that time:

Here's what else was announced in the press release:

Control, administration and maintenance building nearing completion;

Vaporizers, diffusers, and condensers installed;

Three generators delivered and installed on foundations;

Cooling tower frame erection commenced;

Ormat to deliver first set of power turbines by the end of March;

Switchyard structure advanced to construction;

'Faulkner 1' substation construction commenced;

Wilson Utility commenced construction of the 21-mile power transmission line (T-line) that connects the 'Faulkner 1' T-line to the NV Energy switching station at Mill City with completion expected at the end of May 2009.

Notice's who's supplying the turbines.

What's more, the company has signed a 20-year PPA with NV Energy for 49.5 MW. So, everything is in place for power to start flowing later this year.

When that happens, the 60% run of the past month will look tiny by comparison.

This is just one of many opportunities that will emerge in the sector as the use of geothermal energy is significantly ramped up.

Geothermal Energy Forecast

That's because geothermal energy capacity will grow 89% between now and 2015, from 11,007 MW at the end of 2008 to over 20,800 MW in the next six years. That works out to a compounded annual growth rate of 9.5%.

Take a look at the visual:

Here in the States, forecast growth is on par with global growth on a percentage basis. In the next six years, geothermal energy capacity in the U.S. will grow 89%, from 3,112 MW to 5,884 MW. That's a world-leading sum.

Other countries, like Germany, Australia, and Indonesia have less total capacities but will grow much more quickly.

To be sure, the recent stimulus allocated $400 million for geothermal energy development. And that's on top of the recently-inflated $45 million Congress has set aside for the DoE's geothermal program.

That bill also extends the geothermal production tax credit (PTC) until 2013, allowing project developers to recoup 30% of a new plant's cost. It creates a cash grant program to support the industry as well.

Even Google is excited about the prospects, pumping over $10 million into geothermal start-up AltaRock last year. Legendary venture capital firm Kleiner, Perkins, Caufield & Byers placed a bet on the company as well.

As I said, the smart money is already beginning to take notice of the huge potential geothermal offers. Your money shouldn't be far behind.

Like other sectors, geothermal top stocks have lost significant value over the past year. But the future growth scenario remains in place, as evidenced by the chart above.

Getting in now, while prices are still low, will ensure robust returns as the industry expands and new plants come online.

A Simple Secret to Avoid Penny Stock Losses

Here at Penny Sleuth, we've warned for a while about the dangers of blindly pulling company names from the message boards where penny stock pumpers lurk. Those guys make money by getting people to artificially inflate the prices of penny stocks and leave the investors holding the bag.

But it's not just the message boards anymore ― today's penny stock pumpers are more deceptive than ever. That's why I'm going to tell you how to beat them at their own game…

While we've never accepted money to write about any stock here at the Sleuth, some in the industry do… These so called "stock promoters" are publishing faux research reports and stock recommendations in hopes that investors will catch on to the penny stocks they're selling. They do this through websites and newsletters that seem legitimate on the surface, but are essentially nothing more than schemes to get people to buy these stocks.

So, how does this all work?

Well, penny stock promoters approach small-cap companies and offer to get people to buy their stock in exchange for a fee ― usually thousands of dollars in cash or the company's stock.

Last year, one big penny stock promoter got paid $167,000 to tell their subscribers the name of a company they were trying to boost in value, all while their subscribers were paying for what they thought was a legitimate investment newsletter.

And believe it or not, it's completely legal as far as the SEC is concerned.

Even solid penny stock companies pay for penny stock promoters to tout their stocks. While that may seem surprising at first, the reason isn't as underhanded as you'd think: they want their stocks to trade.

Stocks pay the big bucks to stock promoters in order to get additional trading volume.

How to Spot a Promoter

There are a few ways that you can tell whether a stock's being pumped by a promoter. For starters, go to the horse's mouth ― check out StockPromoters.com ― the site features a listing of which stocks are paying for which promoters, as well as what the promoters are getting in return.

Promoters aren't ashamed about what they do ― they want companies to know how good they are at their jobs…that's why they're so easy to spot.

If you're looking at a website, and you're not sure if it's legit, one of the surest ways to tell is by reading their disclaimer. To stay in the SEC's good graces, stock promoters are required to disclose every company that compensates them in exchange for promotion, as well as third parties who pay them to promote stocks they hold.

Is Stock Promotion Always Bad?

Until now, I've been telling you about the dangers of penny stock promotion. Truth be told, there are some potential plays to be made off of penny stocks being pumped up on no fundamental news.

While that's a bit too speculative for the pages of the Penny Sleuth, we do watch those kinds of plays on our Twitter feed, which you can follow here…

Hopefully, you've gotten a handle on catching potential penny stock promoters in the act. Next time, we'll look at some more upbeat small-cap news.

Week of April 6, 2009 - Southwest Airlines, Continental Airlines, Inc., JetBlue Airways Corp.

Southwest Airlines (LUV)

The airline sector has lost quite a bit of altitude in 2009, with losses flying in the face of lower fuel prices and a 4-week-long rally in the broader market. Compared to the S&P 500 Index's (SPX) year-to-date loss of roughly 7%, the AMEX Airline Index (XAL) has plunged more than 33% since January. Even financial stocks, plagued by toxic assets and the global credit crisis, are faring better, with the AMEX Select Financial Services Index (IXM) dropping 25% on a year-to-date basis. What's more, the XAL is now trading near long-term resistance near the 16 level, with its 10-week moving average descending into the region. A rejection here could send the index down for a retest of its July 2008 and March 2009 lows near the 12.50 level.

Surprisingly, this abysmal performance has fallen on deaf ears among investors. The XAL's Schaeffer's put/call open interest ratio (SOIR) currently arrives at 0.80, with calls outnumbering puts among near-term options. This ratio also ranks in the lower half of its annual range, underscoring the bullish leanings among the speculative options crowd. Finally, Wall Street also views the group favorably, as only 6.5% of the 398 analyst rankings on the airline sector are "sells." An unwinding of this optimism could provide additional selling pressure for the XAL.

One member of the airline sector that is particularly poised to suffer from an unwinding of this heavy-handed bullish sentiment is Southwest Airlines (LUV). The shares are off more than 20% in 2009, extending their 52-week decline to more than 45%. The security has recently rebounded from its March lows, overtaking former resistance at its 10-week moving average. However, LUV has flown smack into its declining 20-week trendline and technical resistance at the 7 level. The latter potential technical hurdle provided support for LUV from December 2008 through mid-February, and could now switch roles and act as resistance.

Meanwhile, technical support for the equity is thin at best. Short-term support arrives at the 6 level, an area that has only recently lent a helping hand to LUV shares. Below this tentative area is the stock's March low near the 5 level.

On the sentiment front, the situation in the options pits would be hard-pressed to be more bullishly aligned. The current SOIR for LUV rests at 0.63, only 2 percentage points from an annual low, pointing to excessive optimism from the speculative options crowd. Additionally, the International Securities Exchange (ISE) and Chicago Board Options Exchange (CBOE) 10-day call/put volume ratio arrives at a whopping 27.83, meaning that nearly 28 calls have been bought to open for every 1 put purchased on these exchanges during the prior 2 weeks. This ratio also ranks above 98% of all such readings taken in the past 52 weeks, highlighting a wellspring of optimism for this underperforming security.

Digging into the stock's open interest configuration, peak call open interest resides at the out-of-the-money 7.50 strike in the front 3 months, totaling more than 12,000 contracts. Comparatively, peak put open interest numbers fewer than 6,500 contracts at the out-of-the-money 5 strike for the same time frame. This skew toward out-of-the-money calls indicates that investors have high expectations for LUV.

Among short sellers, nearly 4% of LUV's float is sold short, but this figure is on the rise. During the most recent reporting period, the number of LUV shares sold short rose by 5.7% to roughly 27 million. A continuation of this trend could increase selling pressure on the equity.

Finally, only 3 of the 12 analysts following LUV rate the shares a "sell," even though the stock has underperformed the SPX by about 18% during the past 60 trading days on a relative-strength basis. Any downgrades from this group could spell trouble for LUV.

Ttraders should consider an in-the-money (10 strike) put option – the May put (premium is 36% of the stock price) or June put (premium is 38% of the stock price) – to take advantage of this opportunity that is attractive from our Expectational Analysis® methodology perspective.

Continental Airlines, Inc. (CAL)

Another poor performer in the airline sector is Houston, Texas-based Continental Airlines, Inc. (CAL). Plagued by intermittent resistance at its 10-week and 20-week moving averages, CAL has fallen more than 49% during the past 52 weeks, dropping some 43% on a year-to-date basis. While the stock has rebounded from its March lows, CAL has encountered resistance at the 10 region - an area that had provided support on numerous occasions between July 2008 and late February. What's more, this region is being reinforced by the equity's falling 10-week trendline, which CAL has not closed a week above since January.

Much like its peers in the airline sector, CAL maintains a wealth of bullish sentiment despite its sickly price action. Currently, the stock's SOIR of 0.31 ranks below 99% of all those taken during the past year. Furthermore, CAL is trading below peak call open interest of roughly 5,000 contracts at the 12.50 strike in the front 3 months of options. Meanwhile, peak put open interest for the same period totals roughly 6,000 contracts at the 7.50 strike. This skew toward overhead call options indicates that the speculative options crowd is not expecting CAL to fall much further.

Wall Street is also on the bullish bandwagon, as Zacks.com reports that 8 of the 10 analysts following CAL rate the shares a "buy" or better. Should these bullish brokerage firms begin to reassess their positions, downgrades could extend the equity's downtrend over the intermediate term.

JetBlue Airways Corp. (JBLU)

Our final under-the-weather stock is JetBlue Airways Corp. (JBLU). Shares of the Forest Hills, New York-based discount airline have underperformed their sector peers, falling 38% in 2009 compared to the XAL's 33% plunge.

Like the rest of the airline sector, however, JBLU finds itself staring up at potential resistance from its 10-week moving average. More troubling is that this trendline has moved into the 4.50 region - an area of long-term support and resistance for JBLU, and one that has held the equity in check since mid-February. Meanwhile, technical support lies near the 3 level, home to the stock's July and October 2008 lows, as well as its March 2009 nadir.

Still, investors refuse to accept JBLU's decline. For instance, the stock's SOIR of 0.35 ranks above only 16% of all those taken during the past year, indicating a bullish bias from the speculative group. Meanwhile, short interest declined by a sizable 24.9% during the most recent reporting period, but JBLU shares failed to take advantage of the added buying pressure.

Finally, only 1 of the 11 analysts following the shares rates them a "sell." If the stock is rejected once again by overhead resistance in the 4.50 area, JBLU could quickly revisit support near the 3 level.

Bears Bet Against Uptrending AutoZone, Inc.
Posted: 4/3/2009 12:43:53 PM
BusinessWeek
"Marcial: AutoZone Is in the Fast Lane"
Published: 4/1/2009

Brief Summary:

This article takes note of the strong price action from AutoZone, Inc. (AZO: sentiment, chart, options), with the author observing that the auto parts retailer "looks like it is in a bull market of its own." The company is benefiting from a slowdown in new auto sales, which has prompted an increase in the number of aging cars on the road. Additionally, cheap gasoline prices have led to an increase in driving. In other words, the fundamental setup is nearly ideal for AZO to sell more of its auto parts and accessories.

Its success amid an economic recession means that AZO is able to expand its geographic reach at a time when other retailers are shuttering stores and scaling back expansion plans. Analysts cited in the article believe that the company's healthy growth and robust margins should fuel long-term success, even if the economy begins to recover.

Contrarian Takeaway:

There's certainly nothing to complain about when it comes to AZO's technical performance. The stock has rallied 34.4% during the past 52 weeks, and the shares are riding high along the support of their 10-week moving average.

Despite this impressive uptrend, the security has surprisingly few fans on the Street. Zacks reports that 11 out of 18 analysts maintain a "hold" or "sell" rating, leaving ample room for potential upgrades. Investors are also skeptical of AZO; short interest accounts for a hefty 11.5% of the stock's float, and option traders on the International Securities Exchange (ISE) have purchased 2.61 times more puts than calls during the past 10 days.

As the equity continues to climb higher, the unwinding of this widespread bearish sentiment could contribute to additional gains. During the short term, look for AZO's uptrend to accelerate.

BERNIE SCHAEFFER'S OPTION ADVISOR - MULTIPLE WAYS TO PROFIT By giving you more than one way to earn, you can pick the investment strategy that fits your personality and investment profile. Subscribe today and you'll also get a complimentary online copy of my Crash Course in Top Gun Trading Techniques, just click here.

Highest Option Volume for the Week Ending Monday, April 06, 2009
Ticker Symbol	Call Volume	Put Volume	Total Volume*	Put/Call Ratio
Spdrs(SPY)	513,484	656,141	1,169,625	1.28
General Electric Co(GE)	197,500	322,586	520,086	1.63
Nasdaq 100 Index Trckng Stck(QQQQ)	174,057	330,211	504,268	1.90
Research In Motion Ltd(RIMM)	320,991	164,327	485,318	0.51
Citigroup Inc(C)	236,399	164,892	401,291	0.70
S&P 500 Index(SPX)	144,074	224,165	368,239	1.56
Sel Sec Spdrs Fd Financial(XLF)	206,298	120,630	326,928	0.58
Apple Inc(AAPL)	94,831	97,011	191,842	1.02
Bank of America Cp(BAC)	135,814	51,532	187,346	0.38
Ishares Russell 2000 Index(IWM)	46,219	124,869	171,088	2.70

 

Highest Option Volume Compare to Average Volume for Week Ending Monday, April 06, 2009
Ticker Symbol	Call Volume	Put Volume	Total Volume*	5-week Avg Volume	Volume Ratio	Put/Call Ratio
Affiliated Computer Svcs (ACS)	1,725	16,817	18,542	5,444	0.10	9.75
Cubist Pharmaceuticals Inc (CBST)	42,494	5,919	48,413	13,480	7.18	0.14
Cinemark Holdings (CNK)	5,054	7,861	12,915	3,273	0.64	1.56
Powershares DB Commodity Index Tracking Fund (DBC)	92,610	6,718	99,328	30,863	13.79	0.07
Forest Laboratories Inc (FRX)	37,565	4,021	41,586	14,202	9.34	0.11
Hatteras Financial (HTS)	73,496	1,583	75,079	21,383	46.43	0.02
International Game Technology (IGT)	26,191	1,323	27,514	9,082	19.80	0.05
Monarch Casino & Resort Inc (MCRI)	7,834	4,139	11,973	3,227	1.89	0.53
Protein Design Labs Inc (PDLI)	3,258	2,901	6,159	2,109	1.12	0.89
Vivus Inc (VVUS)	5,516	6,089	11,605	3,137	0.91	1.10

*Minimum 10,000 contracts in weekly volume

Useless Currencies of the World Unite!

My brain went into some kind of weird spasm when Zhou Xiaochaun, head of the People's Bank of China, went on record as saying that he doesn't trust the dollar to be the world's reserve currency anymore, and wants, instead of gold, the International Monetary Fund to expand the supply of Special Drawing Rights (SDRs), which is just another stupid fiat currency, to use as the world's reserve currency! Gaaahhhh!

I can tell by the way you are not screaming in fear and frantically clawing your way to the nearest exit in a generalized panic that you do not know what a Special Drawing Right is. So prepare to scream and claw when I tell you that ― according to the Economist magazine, which I cite as a source since you never believe anything I say ― an SDR is "a synthetic currency created by the IMF, whose value is determined as a weighted average of the dollar, euro, yen and pound"!

I deliberately put that exclamation point there at the end so that Junior Mogambo Rangers (JMRs) around the world and across this quadrant of the galaxy would not miss the salient fact that there is something Really, Really Weird (RRW) when these Chinese bastards are smart enough to reject an over-valued fiat dollar, but then being so stupid that they prefer, over gold, a basket of four fiat currencies, one of them being the damned dollar, along with their four corrupt governments, which collectively own the IMF by virtue of having funded the damned thing in the first place! Hahaha! Brilliant! Hahaha!

By this time I was laughing so hard that my stomach started hurting, which made me think that maybe I was hungry, and how maybe a taco would hit the spot right about now, which is Mexican food, as I suddenly suspected Chinese food for making them sound so ridiculous.

So my mind was whirling, whirling, whirling with many thoughts as Zhou went on to say, "Therefore, efforts should be made to push forward a SDR allocation. This will require political cooperation among member countries", which (as I understand it) means that governments should stand ready with their armies to lend a hand to fellow governments around the world with the unpleasant task of killing rebellious civilians who will inevitably riot when they run out of food because they cannot afford to buy food because the damned American government is still deficit-spending, but now measured in the trillions of dollars per year, a demand met with excessive amounts of new money and credit created by the Federal Reserve, increasing the money supply, which in turn creates inflation in prices.

As usual, I get no feedback from the Chinese, perhaps thanking me for saving their economic butts by pointing out where they have been so stupid as regards this "gold money" thing by, you know, sending me a couple of tons of it, or even a fruit basket would be nice, ya know?

So, I figure that their ignoring me means that maybe they have discovered, with their famed espionage networks, that I am not the world-famous guy I say I am ("They call me Big King Mogambo (BKM) back home!"), but am just some sort of mental case or something, usually described by the newspaper as "local lunatic."

So I figure that maybe someone of the stature of Bill Bonner here at The Daily Reckoning would have the desired impact, and so I tell them how Mr. Bonner writes that "one way or another...sooner or later, a new money system is bound to emerge. Most likely, it will have gold at its base. Why? Because in thousands of years of human experience, nothing better has ever been found."

Well, normally, you would expect someone being told that nothing better than gold has been found that could be used as a store of value to suddenly slap themselves on the forehead ("Ow!"), and say "Hey! You're right! Nothing has worked better as a long-term investment than gold, and so anything other than gold is a bad investment when the governments of the world are deficit-spending at record rates and the money supplies are expanding at such preposterous rates that the sheer volume of money sloshing around allows interest rates to be temporarily lower than the real rate of consumer price inflation, which is a condition that is so freakishly insane that just thinking about it should make synapses in your brain burn to a freaking cinder with an audible 'ssss!' when you comprehend the enormity of it!"

So, suddenly, you know something is wrong, and a chill overcomes you, when, even more mysteriously and spookily, the Chinese central banker says, "The scope of using the SDR should be broadened, so as to enable it to fully satisfy the member countries' demand for a reserve currency"!!!

The three exclamation points indicates that I am on Full Mogambo Alert (FMA), as I now know that Chinese bankers are as duplicitous as all the others; he is proposing to create as much SDR money (which is just another fiat money composed of the fiat dollar, the fiat euro, the fiat yen and the fiat pound) as anyone in the world wants! Which is the problem that got us into the mess we are in, for crying out loud!

Even more bizarrely, he states some ridiculous benefit of, "Compared with separate management of reserves by individual countries, the centralized management of part of the global reserve by a trustworthy international institution with a reasonable return to encourage participation will be more effective in deterring speculation and stabilizing financial markets", which means that no country will have any reserves at all, and some mysterious "trustworthy country" acceptable to China means that China will hold all of the reserves, and therefore be calling the shots of the new currency, and since nobody has any reserves, they will be under complete control of the IMF, which will be under the control of China! Gaaaahhhh!

Well, you know I must have hit a nerve, because they don't answer me and thus quell my howling outrage and fear from even contemplating such a scary thing, and instead, they go on "The participating countries can also save some reserve for domestic development and economic growth", which makes you go, "Huh? What in the hell are you talking about keeping 'some' for our own use? What else would I be using it for, you stupid putz?"

Then I realized that this kind of crap leads directly to a pertinent lesson on why you should be buying gold, silver and oil so as to save your Fine Financial Fanny (FFF), but there are so many reasons that I groan with dismay at even listing them all.

Commentary from Peter Schiff: Let's Play Pretend!

By now you already know we feature a diversity of voices every week. That's because we live and die―and succeed―by our ideas. . . We just can't afford to ignore challenges to our preconceived notions or investment approaches. So this week, we're thrilled to bring you the first of many guest articles from a friend of Wealth Daily, Euro Pacific Capital's Peter Schiff.

I've known Peter for over a decade, and as president of Euro Pacific, Peter's goal has been very simple and similar to ours here at WD: keeping his audience ahead of the mainstream.

Peter has become a YouTube viral video sensation with compilations of his calls on the housing bubble, the dollar's demise, and other forecasts that went against the pop-finance grain while the bull market roared. Confronted by a gauntlet of CNBC talking heads, Peter never backed down when he knew he was right. And in the end, the see-no-evil crowd got taken to the cleaners and Peter was vindicated.

Expect more honest and accurate insight from Peter in the weeks and months to come.

Let's Play Pretend!

When elementary school kids want to escape the confines of their circumstances they pretend to be pirates, princesses, and Jedi knights. Now, with the relaxation of "mark to market" valuation rules announced yesterday by the accounting trade's self-regulatory body, our bankrupt financial institutions can escape their own reality by pretending to be solvent. The unraveling of our fairytale economy over the last few months has not yet convinced us that the time has come to put away childish things. The applause that greeted the news yesterday on Wall Street is a clear sign that we still have some growing up to do.

The imaginative conceit that lies behind the accounting change is that the toxic assets polluting bank balance sheets are not really toxic at all. They are in fact highly valuable assets that for some irrational reason no one wants to buy.

Using the "mark to market" accounting method, mortgage-backed securities were valued relative to the latest prices fetched by the sale of similar assets on the open market. Currently, those bonds are being sold at deep discounts to their original value. By "marking" their unsold bonds down to those prices, the insolvency of our financial institutions had been laid bare. The new accounting changes will allow the nervous owners to assign more "appropriate" (i.e. higher) values. Problem solved.

It is important to note that the Financial Accounting Standards Board made their rule modifications only after intense pressure had been applied by Washington and Wall Street. In their heart of hearts, I can't imagine that there are too many bean counters happy with the outcome.

The banks and the government have argued that the assets should be valued based solely on current cash flow. Most mortgages, after all, are not delinquent. Therefore, a few bad apples should not spoil the whole cart, and those that are not yet delinquent should be valued at par. This method assumes we have no ability to look into the future and make assumptions about what is likely to happen, which is presumably what the market is already doing by valuing the assets lower than the banks wish.

All kinds of bonds (corporate, government and municipal, etc.) that are not in default frequently trade at discounts. In fact, the reason that agencies such as Moody's and Standard and Poor's rate bonds is to assess the probability of default. The higher that probability, the lower the value placed on the bonds, regardless of their current cash flow.

For example, GM bonds that mature 10 years from now currently trade for only 8 to 10 cents on the dollar, despite the fact that GM is current on all interest payments. The 90% discount reflects investor awareness that GM will likely default long before the bonds mature. By the new logic, financial institutions with GM bonds on their balance sheets should be able to ignore the market and value these bonds at par.

Some argue that the comparison is invalid because GM's bonds are liquid while mortgage-backed securities are not. However, if sellers of GM bonds were holding out for 70 or 80 cents on the dollar, those bonds would be illiquid too. The reason GM bonds are trading is that sellers are realistic.

The same should apply to bonds backed by mortgages. To assume that a 30-year, $500,000 mortgage on a house that has declined in value to $300,000 has a high probability of remaining current to maturity is ridiculous. The borrower could lose his job, his ARM might reset higher, or he may simply tire of paying an expensive mortgage for a house that is unlikely to be sold at a profit. Any bond investor with half a brain will factor in these probabilities and look for deep discounts. The only way to accurately assess a real present value is to let the market discover the price.

Mortgages Lack Value. . . not Liquidity

Despite the pleas from bankers and politicians, mortgages are not plagued by a lack of liquidity but a lack of value. If sellers would be more negotiable, there would be plenty of liquidity. Who knows, at the right price I might even buy a few. The problem is that putting a market price on these assets would render most financial institutions insolvent, which is precisely why they do not want to let that happen.

Simply pretending that all these mortgages will be repaid does not solve the underlying problems. It may keep some banks alive longer, but when they ultimately do fail, the losses will be that much greater. In the meantime, solvent institutions are deprived of capital as more funds are funneled into insolvent "too big to fail" institutions ― hiding their toxic assets behind rosy assumptions and phony marks.

Going from the sublime to the completely ridiculous, in a speech at the just-concluded G20 summit in London, President Obama urged Americans not to let their fears crimp their spending. It would be unwise, he argued, for Americans to let the fear of job loss, lack of savings, unpaid bills, credit card debt or student loans deter them from making major purchases. According to the president, "we must spend now as an investment for the future." So in this land of imagination (where subprime mortgages are valued at par), instead of saving for the future, we must spend for the future.

I guess Ben Franklin had it wrong too ― apparently a penny spent is a penny earned.

The Last Place You’d Look for Safe Income

For the first time since the Enron debacle, Americans finally joined hands to hate something worthwhile. Instead of worrying about the Ten Commandments on a courthouse's steps or a Super Bowl halftime show's costume malfunction, we had a legitimate outcry from America's poorest 95%. AIG was greedy and people got pissed. Some even took to the streets. Hell, we even got a congressman to condone suicide for these dirtbags.

At the time, I got excited. I thought real action was coming. Unfortunately, my initial prejudice against fellow Americans held up. They are lazy, gullible, and apathetic. If I touched a nerve there, prove me wrong. I'm about to show you a significant flaw that has already made a small group of people serious money. If you want in, it's time to man up…

Further Perversion of MBS Ridiculousness

So far, the U.S. government has piled up more than $2 trillion worth of debt to finance bailouts for banks, insurance companies and even the struggling auto industry. And unless you are the CEO of one of these companies or worth enough to make sweetheart deals like Warren Buffett, you haven't received a dime of this money. That's all right, because the government's overreaction to this recession left an opening for gutsy investors.

As you know, mortgages have been the central problem in today's economic meltdown. From there, greedy financial product creation boards went crazy. You'd have to be living under a rock not to hear the terms "collateralized debt obligations" and "credit default swaps." These are the real doozies in today's market slide.

However, the most important term in today's financially-minded world is "mortgage-backed securities." You see, it's not the mortgages that caused the system to fail. It was the mortgage-backed securities, or MBS. These securities are not a new development in the financial world. In fact, they've been around longer than most of the "too-big-to-fail" banks Washington is bailing out.

During the last Depression, in 1938, President F.D. Roosevelt helped create the National Mortgage Association. Later, the word "federal" was added to the beginning. This organization, now called Fannie Mae, was created to bundle mortgages together and resell them as ― you guessed it ― mortgage-backed securities.

Wall Street's further perversion of this already perverted "asset class" is a story for another day. But these "securities" are important today because the actions of the last nine months of government intervention combined with plenty of MBS ridiculousness created an enormous opportunity for income investors.

You see, 2008 was a tough year for Fannie and her brother, Freddie Mac. Both companies' shares lost about 98% of their value. The highly incompetent and worryingly scared Bush Administration took them over. In a very important piece of legislation, these two government-sponsored enterprises (GSE) were placed under the authority of the brand-new Federal Housing Finance Agency (FHFA).

In September, the FHFA took extraordinary action by placing Fannie and Freddie into a federal conservatorship. This conservatorship, backed by the U.S. Treasury, was designed to guarantee all GSE-backed securities. This September announcement means that the U.S. Treasury is obligated to pay anyone holding a Fannie- or Freddie-backed MBS. That's a 100% guarantee by the U.S. Treasury. In a moment, I'll tell you why this is important…

The Pseudo-Bank Loophole

The financial industry is full of penniless banks, uninsured insurance companies, and toxic assets. But it also includes about five pseudo banks that are in the perfect spot to take advantage of the collapsing market and the U.S. government's desperate attempts to save it.

These companies are called mortgage real estate investment trusts, or REITs. If someone would've come up to me and asked me what I thought about a mortgage REIT a few weeks ago, I'd have laughed at them. But after I did some research, I found a bailout loophole that this small sector uses to make a few people very rich.

These mortgage REITs buy mortgage-backed securities from Fannie, Freddie, and occasionally Ginnie Mae (Government National Mortgage Association) at about a 5% yield. Until Bush's ridiculous Fannie/Freddie bailout, the only government-backed securities came from Ginnie. Now, after the September conservatorship announcement, Fannie- and Freddie-backed securities are backstopped by the U.S. Treasury. That means whoever holds securities originally bundled by Fannie, Freddie, or Ginnie will get paid.

I can't stress this enough… Until the U.S. government declares bankruptcy or the Chinese army overtakes Fort Knox, these securities are as safe as Treasury Notes. But here's where it gets interesting…

Multiplying the Spread for Government-Guaranteed Income

The five (or so) pseudo banks that receive this "government-guaranteed" income from mortgage securities are still financial companies. And what do financial companies do? They leverage the hell out of any debt they can grab.

Here's how it works:

Mortgage REIT A buys a bunch of government-backed MBS from Fannie. In turn, he receives a AAA+ credit rating because his portfolio is 100% backed by the U.S. government. He takes his credit rating to Lending Banks X, Y and Z. These banks give REIT A a bunch of 90-day, $100 million loans at 2% interest to buy more mortgage securities from Fannie. And we repeat, again and again.

When all is said and done, REIT A is leveraged 6-to-1. Its income comes from the 3% spread between its borrowing rate and the yield on the MBS. Multiply that by its leverage ratio, and REIT A grosses 18%.

Because of an obscure law that publicly traded realty companies cut decades ago, REITs aren't taxed (so long as they pay shareholders all of their earnings through dividends). Therefore, with everything else equal, REIT A's shareholders receive an 18% dividend yield.

With interest rates artificially held down by the Fed, and government-supported mortgage yields artificially held high to promote more MBS buying, we get a spread (and thus, income) that's extremely large. And with these companies required to pay shareholders all of their earnings, we get an extraordinarily large dividend yield.

Finally, because of the mortgage mess, shares of these companies are undervalued. While most financial companies deserve their shares driven into the ground, these mortgage REITs don't.

Investors with big cojones have already taken advantage of this. The spreads are even larger and safer now. If this is new to you, I suggest you check it out before investors jack shares back up ― deflating the dividends' effect.

Millionaires' Window of Top Stocks Market

They're not going to like that I'm giving away "guest passes" into the market that's making them rich...

Why would they? They've done everything to keep this a secret from you. And up until today, they've done a pretty good job...

Only 2,408 people are currently "on the inside."

But today, I'll give you a chance to beat them at their own game. A simple and easy way to gain guest access to their private "Millionaire's Market." Then you could start profiting from their transactions.

Sound crazy? It's not. Let me explain...

First, you won't hear about the "Millionaire's Market" on the evening news. The operation is hush-hush. And obviously, the millionaires want to keep it that way.

Next, only the elite can join. They charge outrageous membership fees to join the "Millionaire's Market." At least a million bucks.

That's exactly why I call it a "Millionaire's Market" ― even though most people know it by another name. Some members have even paid $5.8 million to secure their seat inside.

I don't know about you, but I'd pay a few million bucks to gain access to a secret financial market only if I was certain to become "ultra rich" in the process...

And that's exactly what they're doing. Making millions of dollars year after year. All without touching a single stock... bond... or other kind of investment most people are used to.

In short, they're growing rich trading "secret" things in their "secret" market ― while you and I are left spinning the roulette wheel that the stock market has become. Does that sound fair to you? Of course not!

Today, I'll give you a secret "guest pass" into their market ― so you can grab your share of the riches WITHOUT ever having to pay their million-dollar membership fee.

Don't worry. Your "guest pass" is perfectly legal. And it could be extremely profitable.

I'll show you a few examples of how much you could make in just a minute.

But first, you're probably wondering just who these secret millionaires are... why they keep their market hidden... and how I know all of this. So let's start from the beginning...

The 136-Year-Old "Millionaire's Market" Moves Stockpiles of Money Each Day. . . Right Beneath Your Nose!

But Today, My "Guest Pass" Gives You the Chance to Withdraw YOUR SHARE. . .

Before we go any further, I want to make something clear: The Millionaire's Market doesn't involve stocks or bonds... These millionaires could care less what the Dow Jones, S&P or Nasdaq do each day.

While the talking heads on television try to stimulate the economy... while the corporate stock market junkies try to convince you that "buy and hold" is the best way to make money... and while brokers charge ridiculous fees to manage retirement accounts that never seem to move...

This secret group of traders plays an ENTIRELY different game.

And they use the mainstream media's "know-it-all analysts" to convince you that the stock market is the place to be... all just to divert your attention away from them while they trade like bandits inside their secret Millionaire's Market...

Today alone, they've completed more than 1,115,153 deals. Yesterday, they closed over 1,045,456 trades... and the day before, they made 1,305,567 deals...

My point is that over a million of these transactions occur each and every day. And they've run this underground Millionaire's Market since 1872.

But today is YOUR day to infiltrate the Millionaire's Market with your own guest pass.

But Why Do They Work So Hard to Keep You out of the "Millionaire's Market"?

Expensive cars, party boats, houses in the Hamptons, private helicopters... these guys have it all.

Think they want to give these things up to you? NO WAY! They want it all for themselves. And the more people who know about their market the more competition they have...

To me, that just doesn't seem fair... So today, I'll throw the doors wide open for you.

I want to give you a "guest pass" that allows access to the opportunities inside the Millionaire's Market.

You can think of the guest pass as your revenge against them for trying to shut off access to the hardworking, blue-collar Joe...

When you use your guest pass to get in on the profit potential of the Millionaire's Market, you'll have the chance to make huge sums of income ― as much as $810 per week ― from the world's hottest and most secretive market.

Money like that can completely change your life forever. I know ― because that income changed my life.

Here's How the "Millionaire's Market" Paid Me to Retire From My 9�5 Office Job at 32 Years Old. . .

No more ironing shirts and tying ties at 6:15 in the morning... no more sitting in rush hour... and no more waiting around at 5 p.m. on Friday to pick up my weekly check...

The Millionaire's Market changed ALL of that. Now I'm my own boss.

I'm able to go hit golf balls on a sunny Friday afternoon. I'm able to spend entire weekdays with my young daughter. And I'm able to travel whenever and wherever I want. After all, isn't that what life is REALLY about?

I'm finally free from the shackles of "normal" work. You could be, too. I'll show you how in just a moment.

And if you're already retired, the "guest pass" could help you live more comfortably, too.

Since 1989, I estimate that I've made more than $100,000 year after year in this secret market... In fact, I use it whenever I need some extra cash for my wife, my young daughter or me.

Today, I'd like to show you how you could do the same thing...

How You Use YOUR Extra "Millionaire's Market" Money Is Completely up to YOU. . .

If you accept your personal "guest pass" today, you could live a happier life while making a consistent stream of money. And you can start as early as 7:10 a.m. EST tomorrow.

Take Ray Chan, for example. Ray's a 48-year-old software architect from Charlotte, N.C., who told me that he's used his guest pass into the Millionaire's Market to average an extra $1,500 per month. For the past eight months!

What has he used the extra cash on? Well, Ray said this: "Giving gifts is a lot easier when you have some extra money that you didn't work overtime for!"

Or take Stan Rohl ― a 51-year-old semiretired uniform rental operator ― who recently told me that he used the guest pass into the Millionaire's Market to make $1,337.80 in only ONE WEEK.

If you could do that each and every week, it would add up to almost $70,000 per year in extra income. What would YOU do with an extra $70K per year?

Just think how extra cash like that would change your life...

Because today I'm giving YOU a chance at the same type of gains.

You see, the "guest pass" is my name for a research service I've spent the last 19 years of my life perfecting. And Stan and Ray are just two of the many readers taking advantage of this service.

But before I tell you how you can join me as we raid this market, let's get something straight... The Millionaire's Market isn't for everyone. I want only aggressive people joining me as we sneak into this market through the back door. We have no room for deadbeats.

So if you're not serious about a chance to make an extra $810 per week, stop reading. This letter isn't for you. But if that extra income potential sounds appealing...

What you're about to read is highly confidential.

The truth is, I'm lucky to be telling you about it all. That's because I wasn't born into the "Millionaire's Market."

Instead, I stumbled into it by accident.

How My Life Story Has Paved the Way for YOU to "Withdraw" Money From the "Millionaire's Market" With an Undercover Guest Pass. . .

My true love in life used to be filmmaking.

When I was a kid, my parents told me that I used to act out scenes in my crib. They said I was a natural...

So when I grew older, I left my middle-class Minnesota town and went to the Big Apple to become a film major.

But after college, I couldn't find a job in film to save my life. So being young, broke and desperate, I took any type of work that I could find. And that's when I discovered the Millionaire's Market.

You see, a buddy of mine had just been accepted as an assistant to a trader inside the secret financial market I've been telling you about.

And as luck would have it, he knew another "millionaire" who needed an assistant. The next day, I got the job...

The Secret "Millionaire's Market" REVEALED!

They paid me $22,000 per year to do their grunt work.

And I quickly found out what they were trading to make them so rich...

They never touched a single stock... never laid their hands on a corporate bond... and didn't think twice about investing in CDOs, ADRs, ETFs or any other fancy acronyms.

They didn't have to worry about shady accounting practices... questionable insider transactions... or even SEC investigations...

Instead, these guys were trading things that can't be manipulated by Corporate America ― the stuff we use each and every day. Things like oil... gold... silver... natural gas... soybeans... sugar... orange juice... and so on.

Forget the stock market! Here's where the rich go to get richer...

Want a chance to make a few hundred dollars extra per month? This is the place for you.

Of course, 99.9% of the investing public has no clue how to get in on this action. That's why I feel like the "Millionaire's Market" (known to most people as the commodities market) has been "hidden" and kept "secret" from you... until today!

Why I'm Now Using My "Inside" Experience to Open the Doors on Their Greedy Little Secrets. . . Giving You a Chance to Bring in Extra Monthly Income. . .

I figured out how every part of the system works during my years inside the Millionaire's Market.

I placed trades that banked over $100,000 in a matter of minutes... And I placed trades hundreds of times per day.

I discovered all of the Millionaire's Market's secrets.

But along the way, something didn't smell right to me...

First, they had no loyalty to each other. They were concerned only about fattening their own wallets at any cost. That kind of mentality was sickening in itself. Then I realized what was really bothering me.

These guys were so selfish about the millions they were raking in they took steps to keep this market completely hidden.

Instead of sharing their moneymaking secrets with the world, they screwed over everyday people by charging million-dollar entrance fees. It was all designed to keep the rich getting richer... while the everyday Joes like you and me were grinding through 50�60-hour workweeks.

Call me crazy, but that wasn't the life for me. So as soon as I sucked up all the knowledge I could, I quit with the hope of bringing their secrets back home to my family and friends...

But how does this all add up to you making $810 or more per week from their "hidden" market? Well, that's the secret...

I Realized That After I Quit the Secret Millionaire's Market,
the System Didn't Shut Me out. . . Now You Have a Chance to "Hack" Into It With the "Guest Pass" I'll Give You Today!

To be honest, I didn't know if it would work. But my access to this market wasn't shut off when I left.

When I logged onto my personal trading account and tried to tag along on one of the Millionaire's Market trades, I fully expected to be shut out. Then the transaction went through, and my pulse started to beat faster and faster. It wasn't a big victory ― I withdrew only $650...

A few days later, I tagged along on another trade. And it worked again. This time, I withdrew a little bit more. Around $1,850.

Jackpot! Since I'm not technically on the "inside" anymore, that's why I call my research service a "guest pass." It allows me to recommend the exact same opportunities without having to be "on the inside."

And at that moment, I realized that anyone could tag right along with the millionaires... as long as they knew where to look.

With all of the money floating around inside the Millionaire's Market, it's like secretly reaching in and "withdrawing" money from their transactions ― all perfectly legal and virtually undetected.

And today, I'm inviting YOU to do just that!

Since these secret millionaires complete over 1,000,000 commodity trades in their market per day, as long as you don't get greedy, they'll never notice that you're tagging along with their trades.

How the "Guest Pass" Works

The guest pass allows you to participate in the same transactions that they complete each and every day. When we find one that's potentially profitable, you decide if you want to fork over the small amount of cash it takes to make the deal.

Then, when it comes time to "cash out," you could take back your initial cost, plus your share of the profits.

I know it may sound complicated. It's not. Here's how we're going to play it...

Your FREE Guest Pass Into the Millionaire's Market

The "guest pass" is a financial research service called Resource Trader Alert ― a service that focuses on the kind of commodity trades they make inside the Millionaire's Market. My recommendations have safely and consistently been booking gains month after month.

And today, I'd like for you to join us.

Through Resource Trader Alert, I'll give you behind-the-scenes access to the Millionaire's Market with my secret guest pass. You could use it to trade alongside them and have a chance to make as much as $810 per week in profits.

I've been personally using the Millionaire's Market to make money EACH and EVERY day ― for more than 19 years. I promise that I'll show you how to do the very same thing...

Take Sacramento, Calif., resident Greg Clay, for example. Greg wrote me saying that he "had absolutely no knowledge about [the Millionaire's Market.]" After I gave him the guest pass, he started with just $15,000 in his account, and he says his account is now worth $123,000!

Sally Flemming from Cedar Grove, Wis., told me that she's "grown her account by $4,000" in four months. She's used the guest pass to generate $1,000 in extra income a month!

Or look what Chuck Zhan ― a 52-year-old former psychotherapist who can no longer work due to a disability ― told me: "I've invested in a recommendation only one time thus far... and sold for a 96% gain, almost doubling my money." Since Chuck is on Social Security, he needs any income that his guest pass can bring him just to get by.

Now, with the guest pass in your hands, you'll have a chance to begin bringing in huge sums of weekly income from the Millionaire's Market. And you'll be able to start as early as 7:10 a.m. EST tomorrow. I'll show you how.

But before I give you access to the guest pass, let me show you just a few specific examples of how much you could make...

Millionaire's Market "Withdrawal" #1 How to Use Your Guest Pass to Make an Extra $810 in Just 7 Days. . .

Did you know that you could make great money trading cocoa in the Millionaire's Market?

You can. Today. But more than 99.9% of people never do. Because before today, the Millionaire's Market was reserved for, well, the millionaires only...

You see, cocoa trades on the Millionaire's Market each and every day. And they make a fortune doing it. But your guest pass will give you the chance to profit by tagging onto their transactions.

You simply use the guest pass to get in on the action... and then take your share of the cash if they profit.

Here's how...

A while back, I sent my Resource Trader Alert readers the following note:

"BUY the December Cocoa Calls for $480."

Then seven short days later, I rushed them these simple instructions:

"SELL the December Cocoa Calls for $750."

In at $480... out seven days later at $750. That's like withdrawing $270 from the Millionaire's Market. All with just 10 minutes of work.

Not bad, right? But some Resource Trader Alert readers could have made much more than $270...

If you'd have bought two contracts of the same trade, you could have made $540. And if you'd have loaded up on three contracts, you could have raked in an extra $810 in just SEVEN days.

You could have deposited it right into your retirement account... or used it to pay off those heating bills... or put it toward a nice little vacation for your family. It's your choice.

But it gets even more fun than that. $810 in a week is nothing compared with what some of the other lucky guest pass recipients have had the chance to "withdraw." For example...

Millionaire's Market "Withdrawal" #2: How the Guest Pass Could Have Made You $6,208 in Just Under 1 Month

Another commodity that trades in the Millionaire's Market each day is heating oil...

I knew that if my readers wanted to join the millionaires as they traded heating oil, they could get a share of the profits. And that's what the guest pass gives them a chance to do. So heating oil was one of the first plays that I recommended to my Resource Trader Alert readers.

I wasted no time and rushed out an urgent e-mail. I simply told them to...

"BUY February $150 Heating Oil Calls for $1,747."

Twenty-eight days later, I rushed them instructions again. This time, they could have exited the trade at a price of $4,851 ― a "withdrawal" of $3,104 per contract.

If you had bought just two contracts, you could have turned every $3,500 into $6,208...

Four contracts would have raked in $12,416 in pure profit. All in only 28 days.

Pretty impressive, isn't it? And that's money you could make by using your guest pass to get into just one of the 1,633,894 transactions that these guys USED to make behind your back every day.

This happens time and time again. I send my readers instructions... they get a chance to make money in the Millionaire's Market.

Here's another example...

Millionaire's Market "Withdrawal" #3 $911.25 in. . . $3,375 Out. . .

Would an extra $27,095.75 per month help you sleep better at night?

If so, that's exactly the type of extra cash that my Resource Trader Alert readers could have generated. And they'd have done it by playing coffee on the Millionaire's Market.

The trick to trading coffee is to know how the seasons affect the coffee supply. Based on similar seasonal coffee price moves that I saw in my days on the inside of the market, I knew the winter months would send the price of coffee soaring.

So in November, I positioned my readers for potential profits by sending them this set of instructions:

"BUY May $1.05 Coffee Calls for $911.25."

Just 30 days later, the price of coffee had moved up quickly ― sending the $911.25 coffee contract up to $3,375 ― an amazing 270% gain!

Resource Trader Alert readers could have raked in a quick profit of $2,463.25.

Had you acted on my series of email instructions, you could have safely turned every $3,000 into more than $7,389. Or with a little bit more aggressive bet of 11 contracts, you could have even made $27,095.75 or more.

All within 30 days.

And all by using your guest pass to gain entry into the Millionaire's Market.

But what about today's unstable economic conditions? Do they play a part?

Not at all.

You won't be playing stocks, remember? This gives you a chance to SAFELY make money, no matter what the stock market does...

While the U.S. Plows Through a Recession, These Secret Millionaires Trade More Than Ever. . . Giving You a Chance
to Join Them in Their Elite Game

Does it look like the Millionaire's Market players are hurting over the recession? Nope!

They're making more money than ever from soaring commodity prices.

Here's proof: The sheer number of recent Millionaire's Market transactions is just amazing...

In 2004, the daily average inside the Millionaire's Market was 538,245. In 2005, it increased to 697,371... in 2006, it averaged a whopping 980,400...

Now it averages over 1,633,894 trades per day. That's an impressive 204% growth in just four years.

And this 136-year-old market has increased the number of transactions every year since it started.

This means that the volume of trading on the Millionaire's Market is so high that they'll never even notice you when you tag along to "withdraw" your share of the money!

For example, if you used your guest pass to get in on only a tenth of a percent of their daily transactions, that would still leave you 1,633 cherry-picked potential trades to participate in each day!

The bottom line is that this profit parade won't end anytime soon.

And my Resource Trader Alert system will show you how to safely "withdraw" money from only the VERY best transactions... the ones that could easily pay your monthly bills... and leave you some "extra" cash to burn.

The ones like...

The $4,000 you could have reaped in 20 days if you'd bought 8 of our recommended silver contracts

The $17,820 in pure profit you could have made in just 9 days from 5 wheat contracts

The $4,500 you could have raked in 19 days playing 9 corn contracts

The $4,704 you could have bagged from the Millionaire's Market in 6 days through 10 sugar contracts

The $9,200 you could have made in 28 days by playing 10 gold contracts.

That's exactly what my Resource Trader Alert system is designed to do ― safely provide you guest access to the Millionaire's Market, where you'll have a chance to make as much as $2,000�10,000 per month, depending on your initial stake.

And as good as those gains are, they're nothing compared with...

Millionaire's Market "Withdrawal" #4 Using the Guest Pass to Make You $6,048 in 48 Hours

In early 2007, my Resource Trader Alert system locked onto a sugar play. So I rushed out a quick e-mail to my readers telling them to get in on it. If they wanted to get in on the opportunity, they had to shell out just $358.40 per contract...

And less than 48 hours later, I told them to sell those same sugar contracts for a gain of 84%.

That's like "withdrawing" $302.40 in pure profit from each contract.

With 20 contracts, you could have made $6,048 in as little as 48 hours...

All without ever having to worry about a company going bankrupt or announcing bad earnings.

Again, Resource Trader Alert readers simply wait for my instructions... decide if they want to act... and then act quickly when it's time to sell for a profit. It couldn't be easier.

Here's another deal that could have brought you some quick cash...

Millionaire's Market "Withdrawal" #5 The Guest Pass Could Have Made You an Extra $36.46 per Hour. . . Even While You Slept!

I know that sounds crazy. But hear me out...

Over the course of eight days, I gave my Resource Trader Alert readers the chance to "withdraw" $7,000 from the Millionaire's Market. That's eight days... and $7,000 in pure profit.

Said a different way ― that's like generating an extra $36.46 per hour... for 24 straight hours... and for eight straight days. Even while you sleep.

And all with just the guest pass to access the best opportunities in the Millionaire's Market and 10 minutes of work.

Here's Why You'll Be Able to Generate Additional Monthly Income for Years. . . and Years. . . and Years

As long as the world spins, we'll need the simple things to live on. The things like sugar, cocoa, heating oil, cattle, oil and soybeans...

And it only makes sense that supply and demand will make the prices of these things go up and down... That means you'll always have opportunities to make money!

All you need is the guest pass to get you behind the scenes. Once the guest pass is yours, you'll have the chance to...

Turn $5,000 Into $339,200 of PURE Profit

For the past 3 1/2 years, my Resource Trader Alert system has helped me cherry-pick 106 Millionaire's Market recommendations for readers.

Eighty-eight recommendations were winners.

After forking over the cash it took to get in on the transactions, the total cumulative gains (including losers) were a whopping 6,808%.

If you'd have dumped $5,000 into each and every single one of my recommended Millionaire's Market trades, you could have made $339,200 in pure profit. That includes the rare break-even or losing transactions.

Compared with the Dow, which went up just 24.6% during the same time frame, now you can see why certain people pay ridiculous fees to join the Millionaire's Market!

By this point, though, I'm sure you have some questions about what I've told you....

So It Seems Only Appropriate to Answer Your Questions Now. . .

I'd like to take a moment to make sure you're completely comfortable with how powerful this guest pass can be.

Remember, I want only serious people using the guest pass to play this secret Millionaire's Market. NO deadbeats allowed...

So I've tried to compile some questions that I think you may have. I'll answer them now...

"If the Millionaire's Market Makes You So Much Money, Why Don't You Just Keep It to Yourself?
Why Release This Information?"

Answer: I DO use my guest pass to make money each and every day. But with 1,633,894 transactions per day, there's more than enough for you, too.

I don't want to ever be accused of front-running a recommendation. So here's my promise to you in plain English ― I'll never personally play the recommendations I give you.

So if you think about it, it's a win-win. I get to continue doing what I love... while still giving you the guest pass and specific instructions on how you could make money for yourself!

After all, if I kept this information for myself, wouldn't I be just as bad as the millionaires who want to keep you out?

"This Sounds Risky. . . Is It?"

Answer: I'm not going to lie. All investments involve risk. And to tag along with the Millionaire's Market transactions, you'll have to fork over the cash it takes to get in on the deal.

If you're not willing to take on a TINY amount of risk, you'd better stop right here. The Millionaire's Market isn't for you. You'd be better off sticking your money into a savings account that's guaranteed to make you 4% per year...

But if you're willing to assume a small amount of risk in return for a chance to generate profits from the Millionaire's Market, this is for you.

On top of that, remember that I've been perfecting my Resource Trader Alert system for 20 years. It allows me to identify only the safest opportunities in the Millionaire's Market.

It's the reason why guest pass reader Sam Early wrote me to say that his account is safely up 80% in seven months. He followed up by saying, "Unlike some other, overhyped services... yours is the real deal. And that [80%] is the real number."

"Do I Need to Know Anything About Commodities or Trading to Use My Guest Pass?"

Answer: Nope. Using the guest pass to play the Millionaire's Market is actually easier than buying stocks. How? Because in the past 3 1/2 years ― with over 106 specific plays ― I've recommended plays on only15 different Millionaire's Market commodities.

As a gift, I'll give you all 15 right now. Mark these down:

Crude Oil, Orange Juice, Heating Oil, Natural Gas, Coffee, Soybeans, Corn, Cotton, Unleaded Gas, Cattle, Sugar, Gold, Cocoa, Silver, Wheat

Compare that to the thousands and thousands of stocks out there...

Remember, California resident Greg wrote me saying that he "had absolutely no knowledge about [the Millionaire's Market]" before hearing about Resource Trader Alert. He's since made $123,000 in the previously hidden Millionaire's Market.

"What if I Don't Have a Ton of Cash to Get Started? Can I Still Participate in the Recommendations?"

Answer: It does take a little bit of money to get started. But not much.

Most of the recommendations that my Resource Trader Alert system helps me lock onto will cost around $750 to play. If you don't have that much, I'm sorry. There's nothing I can do. I don't make the rules. I just offer a "guest pass" to get you inside...

But if you have a few hundred bucks, the risk is so small (remember I've given my readers a chance to make money 83% of the time) that the potential returns far outweigh the transaction costs.

"How Will I Know What and When to Buy and Sell?"

Answer: This one is simple. I'll tell you exactly what to buy, when to buy it and when to sell it.

I've recommended a total of 106 plays with specific buy-and-sell recommendations. Eighty-eight went up. And the average gain over all of those plays, including losers, was an amazing 64%.

That's like "withdrawing" an average of $640 from the Millionaire's Market from every $1,000 transaction!

"What Do I Need to Get Started?"

Answer: You need two only simple things to gain behind-the-scenes access to the Millionaire's Market.

First, you need a guest pass. I've just finished a special report that gives you all of the details. It's called Your Underground Guest Pass Into the World's Most Secretive Millionaire's Market.

And it's yours FREE if you follow the instructions at the end of this letter. But the amount of special reports I can give out is extremely limited ― I have only 2,500.

Next, you'll need my instructions on exactly what to buy and sell. With your permission, I'd like to immediately e-mail you my Resource Trader Alert recommendations. Each week, I send two e-mails out. One may have a recommendation... and the other is a recap of our open positions.

That's all you'll ever need to generate extra monthly income. I'm confident that if you possess both these things, you'll never want to gamble on the stock market again.

And here's what I'm willing to do for you today...

If You Act Quickly. . . There's a Guest Pass Waiting for You!

I've been telling you that there's no room for deadbeats all along.

So I just skimmed through my Resource Trader Alert list and kicked off anyone who hasn't paid subscription dues.

With the deadbeats gone, I'm finally ready to let in a few new guest pass subscribers ― something I haven't done in six months.

As I'm sure you'll understand, though, I can't offer this for free.

So after thinking about it, I came to the decision that a fair price to pay for a yearlong subscription to my "guest pass" research service would be $2,990.

That's a drop in the bucket when you consider that others have had to pay $5.8 million to join the Millionaire's Market. Or when you consider that you might have an opportunity to make up your subscription price within the first month of your membership.

Like subscriber George Chan, from Singapore, who told me that he "recovered his subscription fees in the very first [Millionaire's Market recommendation]" he took. He went on to say that he "regretted not joining earlier."

Or take Colin Roberts, who lives just a stone's throw away from Central Park, NYC. He said he paid for his "first-year subscription in six days." "Wish I'd have been on sooner," he continued... "Something tells me I'm not alone."

And he's right. He's not alone. Now you can rake in income from the Millionaire's Market, too.

With your subscription to Resource Trader Alert, I'll immediately send you a FREE copy of my special report, Your Underground Guest Pass Inside the World's Most Secretive Millionaire's Market.

I'll want you to read it right away.

Because I'll also add you to my list of Resource Trader Alert guest pass subscribers. Through the list, I'll send you approximately two or three recommendations per month that you could use to "withdraw" your share of the profits from the Millionaire's Market... and I'll also send you weekly updates on your positions.

I have only a few hundred special reports to give out. Any more and we'd risk being "discovered." I'd hate for this offer to close before you've had a chance claim your personal guest pass. So how's this for fair...

Respond Today and Get 50% Off

If you act before Midnight, May 12, I'm willing to do something very special for you.

I'll give you a full 50% off the normal one-year price of Resource Trader Alert.

You'll get the guest pass subscription (with approximately 36 Resource Trader Alert cherry-picked trading recommendations) for just $1,495.

But space is extremely limited. And when midnight May 12th rolls around, I'll be forced to close this offer.

If you're still not sure if this report and Resource Trader Alert are right for you, here's what I suggest you do...

Go Ahead. . . Take the Next 90 Days to Decide if  Resource Trader Alert Works for You

Sign up for a subscription to Resource Trader Alert today. Then take the next 90 days to decide if it's for you.

If the guest pass research service doesn't give you a chance to substantially better your way of living... if it doesn't help lighten the load of your monthly bills... or if you're not happy for any reason...

Simply call me up and I'll send you a full refund. The only thing I ask is that you return your special report so that someone else can use it.

But if Resource Trader Alert helps you see gains, which I'm sure it will, I'll wait until the end of your 90-day trial to begin your yearlong subscription.

That's something I've NEVER done before.

That means you'll receive a total of 15 months... THREE FREE ... and 12 more as your normal year's subscription... all for the half-price offer of just $1,495.

But you must act before Midnight, May 12th. After the click strikes 12:00 A.M., this "THREE FREE" month offer ends. Perhaps for good.

Of course, there's also one other reason why you'll want to act right now...

Your Chance to Be Inside the Millionaire's Market by 7:10 a.m. Tomorrow

The Millionaire's Market opens for trading tomorrow at 7:10 a.m. While "normal" Wall Street doesn't get started until much later in the day... these guys waste no time when they know there's serious money to be made.

So either you're in or you're out...

Continue to stick with the risky lottery system that the stock market has become... or gain behind-the-scenes guest access into the financial community's best-kept secret, the Millionaire's Market ― where you'll have a chance to "withdraw" $810 or more per week without ever trading a single stock again.

Best Stock Is Waitting You To Invest

Ever heard the story about someone who became mega rich overnight by buying a pharma stock…just before a new drug was approved?

Do you ever sit around and think, "I read a ton of information… I do a lot of stock research…so why haven't I hit my own pharma home run yet?"

Sometimes that just doesn't seem fair, does it?

You and I know that those people who got rich off of a pharma stock are not smarter than you. They've just been lucky enough to have access to "inside" information…

Well, today you have your own chance to get the "inside" information you need to win the FDA game…

You see, our friends over at Stansberry & Associates Investment Research just came across a penny stock pharma company that could land you some serious cash when the FDA announces results on their latest drug.

As soon as I read this report, I couldn't wait to share it with you.

If growing rich overnight on the next pharma breakthrough sounds appealing, just continue reading for all of the details…

We've waited 2 years for this day.

On March 30th, there'll be an announcement of FDA results for a new drug that could create the single biggest return of any investment we've ever found, in 10 years.

"All eyes are on the data," says Business Week. "It could be a multi-billion dollar drug, and so far, all the numbers have been positive." BioWorld writes: "It could be the largest pharmaceutical market ever."

When you see (below) what the drug treats... I think you'll see why S&A has now spent over $200,000 since 2006, uncovering the full details.

"It's the perfect storm," writes drug expert Jack Windin. "A totally new chemical entity with virtually no competition."

So far � the drug has successfully cleared both Phase 1 and 2 FDA clinical trials... and is just weeks from the announcement of Phase 3 results... the last trial before it could launch on a scale potentially unseen since the release of penicillin.

As Forbes reports: People across America are already writing letters to the small company who owns the patent... asking: "How can I get your drug?"

But the big question, of course, is: "Will the drug be approved by the FDA?"

By March 30 � we'll hear the official announcement of test results. It's a decision we've been following daily since trials first began more than 2 years ago.

And while most people have no idea what will happen... we've been able to access early results directly from the company, and they're even better than we hoped.

In short: as of Dec. 15, 2008, early clinical results suggest the drug is safe... has a near-perfect success rate... has a 500% efficiency... and finally, get this: will target 45% of the U.S. population � almost 1 out of 2 Americans.

As one FDA expert puts it: "If results on March 30th turn out even half as good as we expect... this could be the best-selling drug in the history of medicine."

Best of all: All the rights to the drug belong to a single company, a penny stock. At today's prices... a 4-point jump alone would double your money.

In other words: if the results are positive for this new drug on March 30th as we expect... a single stake in this company could make you a fortune, overnight. We estimate as much as $195,600... but only if you get in right now (you'll see why below).

Again, we've waited 2 years for this day. It's the kind of situation we built our firm on back in 1999... investments that can literally change your life.

Let me give you the full story...

Forbes: "The magic pill"

Years from now � and perhaps for the rest of their lives � a small group of people will remember exactly what they were doing on March 30, 2009.

You see, by that morning, there will be an announcement that's unlike just about any other FDA-related release. It's the single announcement that allows regular investors like you and me the rare chance to make a small fortune...

When Celgene (CELG) heard a similar announcement in 1998, for example, the best stock returned 1,002%... turning every $5,000 into $50,100 profit. (We're expecting an even bigger return this March.)

The same thing happened in 1991 to Amgen (AMGN) � which immediately doubled... and went on to gain an unbelievable 1,700%.

In short � by March 30th... we're expecting an announcement of something more than just new drug approval...

Quite simply, we expect approval for a new drug unlike anything to ever go public in the 81-year history of modern biotech. It's a drug that simply hasn't existed, in any useable form... until the company I'm telling you about invented it.

And yet it offers the one cure that almost everybody wishes for � at some point in life. (Don't worry, I'm not talking about something farfetched, like a cancer cure... or a fountain of youth.)

In fact, chances are you know someone who could benefit from the drug, and will even prescribe to it... after test results come out by March 30th.

The drug could help so many people a neuroscience writer in Dallas went as far as to say recently, "The FDA should lower requirements and speed up approval."

It's been described by even conservative health writers with words like: "runaway bestseller"... "blockbuster potential"... and "sell like gangbusters." Forbes wrote of the "magic pill," and went on to say:

"If approved, it could be a billion-dollar drug."

To put that in perspective: If the penny stock company that owns this drug makes even half that amount in revenue... the share price could rise by almost 1,000%.

Now you can see why all of us here at S&A are waiting for March 30th.

You see, only less than 1% of new drugs ever make it past the laboratory door... and through the FDA... for release to the American public.

But this situation is even rarer.

Simply put: not only do early test results suggest the FDA will grant its approval... but in addition � the drug would create an entirely new market, the likes of which no biotech firm... anywhere... has ever successfully tapped.

Let me explain...

Last untapped drug market

Last month, on January 11th, Brian Jennings of NBC Nightly News ran a top-of-the-hour story on a growing epidemic sweeping America...

According to the Centers for Disease Control and Prevention, it's already begun to affect two-thirds of the U.S. population � whether folks realize it or not.

Even more startling is the World Health Organization report: 1 out of 6 people worldwide are now affected by the medical problem being successfully treated by the drug I'm telling you about. That's ONE BILLION PEOPLE.

The problem has grown into such a major health concern MarketWatch reports that its treatment is now among the Top 10 Priorities of the U.S. Government.

And yet... there's no single drug available to treat it.

Big Pharma is pouring tens of millions into the effort. Many speculate a drug that successfully treats this problem (which I'll reveal below) would be, "the last of the traditional blockbusters... drugs that weigh in over $1 billion annually."

One drug expert calls the market the "biggest untapped goldmine in the industry" and speculates that it would be worth $10 billion per year.

That's why shares of the little drug developer I've been telling you about could go through the roof on March 30th, on the announcement of Phase 3 test results.

The reason: They have the #1 leading drug in development right now to treat this problem... and they're the only one of its kind right now to have completed both Phase 1 and 2 trials... and potentially tap the largest pharmaceutical market ever.

But the most important reason why this penny stock could jump so quickly come March 30th boils down to just one thing:

The drug works.

In a move quite rare in drug trials... many of the actual patients who are currently enrolled in tests are breaking doctors' orders to speak out in public.

"It's working great," says one patient � a 35-year-old woman. "I can't wait for it to come out. I feel it has been a great thing for me," says a 64-year-old man.

In December 2008, our top medical analyst uncovered early test results directly from the company.

And look at this: Last July � one of the biggest critics of the drug, Sandy Karle, an expert in the field (which I'll reveal below), wrote: "Forget it!" warning that it may not be possible to ever successfully treat this problem with drugs.But days later... after learning more, she publicly said:

"I am tempted to buy the stock. [This tiny company] will make a mint, and so will its investors. If you're looking to make money... it's a good choice."

So what does this drug cure, exactly? And why do experts think it could tap one of the last billion-dollar-drug markets in pharmaceutics?

Near 100% success rate

In short � the drug treats obesity.

With just a single pill... it lowers the patient's weight by at least 5% (the golden number in weight loss). If a patient can lose 5% of fat � academic studies have shown that this significantly lowers blood pressure... risk of heart disease, and other harmful effects like diabetes... arthritis... and stroke.

Even more amazing � unlike almost every other weight-loss alternative, the drug works without a single ounce of effort from the patient.

In other words: It requires no exercise... no special diet... and no risky operations in the hospital. You simply swallow the pill on a full or an empty stomach.

As one patient in the Phase 3 trial recently said, "I've lost 21 pounds (10% of my body weight) in 10 weeks. I couldn't be happier. I'm excited, because I wouldn't mind being able to wear a single digit size by next summer!"

"I have lost about 90 pounds," another patient said last month.

And a third Phase 3 patient recently said, "I lost 20 lbs (I weighed 160), my blood pressure went down, my cholesterol went down, all my levels are great now."

As I'll explain � the drug works by targeting a little-known part of the brain. (The British scientist who helped invent it detailed the entire process to us in his office.)

Specifically � it targets the brain area that controls the patient's appetite. When a patient takes the drug twice a day, it suppresses his appetite and he finds himself naturally eating less and less...

That's why folks struggling with their weight are so excited. It doesn't require any difficult program or diet � like the Jenny Craig work-out routines... or the untasty meals of NutriSystem or WeightWatchers.

When you prescribe to this new drug, you eat what you want, as often as you like. It's that simple. For folks who want to lose weight without sweating or sacrificing, it's about as good as it gets.

And as I said before � there's no other single drug on the market that offers it any real competition whatsoever. As Forbes recently wrote � the only two alternatives on the drug market deliver "mediocre results."

This drug, on the other hand, uses an entirely new molecular compound that has been patented by the company behind it... a compound so unique that practicing physicians nationwide are already taking notice...

At a recent meeting of the American Diabetes Association, for example, Dr. Steve Sarton, M.D., of the Biomedical Research Center devoted his talk to it, saying:

"The drug demonstrated excellent weight loss in this study � coupled with excellent tolerability and a positive impact on associated physical measures in obese patients."

In other words: The drug works.

But before I show you how it works... (and why we believe that even a small stake could make you as much as $195,600, overnight)... let me make something clear:

May not be right for you

Unless you're willing to act on this situation immediately � long before March 30th, when FDA results are announced � this investment may not be right for you...

You see � the big money in new drug development comes weeks... often months... in advance of FDA approval. And unless you act quickly, you miss out...

Take Oncogenex (OGXI), for example. A lung cancer drug they developed, OGX-011, hasn't even entered Phase 3 trials... and yet the stock is already up 1,728%.

Or look at Medivation (MDVN). Their new drug for Alzheimer's, Dimebon, is still in Phase 2 trials. But the stock is up 1,756%.

The point is � most people have never even heard of the little company who made the drug I'm telling you about... which is one reason it's still a penny stock.

But it's only a matter of weeks � even days � before this changes...

An almost identical situation recently played out with Auxilium (AUXL)... an East Coast drugmaker. Nobody had ever heard of this company when it began Phase 2 trials for a new testosterone drug...

But on October 26, 2005 � before results were even public... the executives held a press conference at The Palace Hotel in New York, to talk about it.

Just 5 DAYS LATER... on Oct. 31... the stock began a 973% run.

And unless you'd gotten in before the press found out... you'd have totally missed out on this situation. By waiting, you'd have missed a near-10 BAGGER.

Well � this opportunity is even bigger. And the reality is: The top stocks could start its run any day now. The company issued 3 press releases in December alone. We're expecting an even bigger press release about the drug literally at any minute.

But whether you follow our advice... or wait until the last second, there's only one thing you need to know about this drug to make a fortune...

Secret of top 100 drugs

You see � the top 100 bestselling drugs in history all have one thing in common... as do 50% of all successfully launched drugs of the past 30 years...

In short, they're all compounds that target proteins in the human body known as the "G-protein-coupled receptors" (or "G-proteins" for short). Most people have never heard of it, but this secret little protein has produced over $30 billion in sales on the drug market.

Well... the drug I'm telling you about also targets "G proteins."

But unlike 99% of the market, it does something no other biotech firm, anywhere, in the history of pharmaceutics, has ever safely accomplished...

Quite simply: It targets "G proteins" in the brain, activating a single very tiny portion that controls appetite... the feeling of being "full" after eating.

This part of the brain is known as the "hypothalamus," and is filled with the same chemical that controls sex... and sleep. But what makes the drug so unique is that it can isolate and activate the "appetite" part alone... with 100-FOLD selectivity over the other 2 parts... the only drug to have ever done this.

Targeting G-proteins � the drug literally enters your brain... and sends out a chemical message saying, in effect: "You're full. There's no need to eat any more."

As I said before... the top 100 bestselling drugs in history
have used the G-protein secret in a similar way � but never, ever, to treat obesity. What this means for you, as an investor, is just one thing. Take a look...

Here are 4 examples of other "G-protein" drugs... and how much they made after receiving FDA approval and launching worldwide...

The best part: If the penny stock behind this new obesity drug were to make only a fraction of those numbers � say $250 million � the stock could triple.

If it made $500 million in sales... it could rise 978%. And if it made one billion in sales... the price could rise 1,956%. That turns every $10,000 stake into an unbelievable $195,600 profit.

Now you can see why BusinessWeek says, "All eyes are on the data" and why S&A has spent over $200,000 since 2006 uncovering the full details...

And that's not all...

A 229%, 1-day perk

There's an extra perk to this opportunity, which could make you another 229%... in the space of just 8 hours or less...

Now bear in mind: The real money you should expect to make from this drug will come as a result of March 30 � when the Phase 3 test results are announced.

But there's a good chance that before this happens... this tiny company will accept a lucrative licensing offer from a larger biotech firm. In fact � when we spoke to the firm's CEO at their headquarters, he said he's already on the lookout for a deal...

The windfall could be enormous. Take SGX Pharma (SGXP), for example... When they accepted a licensing offer from Eli Lilly on July 8, 2008, they saw a 125% 1-day jump in share price.

Kosan Biosciences (KOSN) made a 229% 1-day jump after a licensing offer from Bristol-Myers (BMY) on May 28, 2008.

And Barrier Therapeutics saw a 128% 1-day jump on June 24 of last year after a licensing offer from privately-held Stiefel Labs.

Again: this is only an added perk. We expect the real gains in share price to arrive as a result of March 30th � the day we've been awaiting for 2 years...

But given the company's history, there's a high probability a licensing deal could happen any day now... as early as next week... or even tomorrow morning.

You see � this tiny drugmaker has already used its "G-protein" approach to make two other brand-new drugs, which have both been licensed, by the biotech giants Johnson & Johnson... and Merck (multibillion-dollar heavyweights).

**The Merck deal is for the company's heart drug... which began a Phase 2 trial recently that triggered a $4 million payment to the firm, with another $32 million in potential royalties.

**The Johnson & Johnson deal is for the company's diabetes drug... worth $295 million in future royalties.

In short... there's a good chance this company will strike another deal with a giant firm (with a greater marketing budget), to license the drug I'm telling you about... especially given that the obesity market is being called "an untapped goldmine."

And if that happens, you could see an extra 229% 1-day jump in share price, more than doubling your money if you own shares before the announcement...

Coffee with the CEO

But before I give you the specifics on how to play this stock, you should know that our analysis comes from a single source we've been using since 2002...

It's easily S&A's #1 biotech secret � and has already pointed to some of the fastest and biggest gains we've found in this sector since our firm first began...

Like Crucell (CRXL), for example, a vaccine maker that shot up 1,145% since we first told readers about it. Or Sirna (RNAI)... which was bought out by Merck after we found it and doubled overnight, a 201% gain.

In short, I'm referring to Rob Fannon.

Unlike most of our analysts... Rob doesn't get his information through traditional means. He doesn't sit behind a laptop all day, reading financial reports... or trying to cold-call company executives for a hot tip...

Quite simply � Rob uses his personal connections in the academic and the private sectors of medicine, obtaining data most people never see until it's too late...

For example, Rob was the first to tell us about Esperion... a firm that developed a radical new way to treat heart disease. By chance, he worked down the hall in Los Angeles' Cedars-Sinai Hospital and Research Center from one of their top clinical researchers � Dr. P.K. Shah, a man who's been profiled by USA Today.

By getting to know him, Rob learned that Esperion's Phase II test results showed their drug could successfully remove arterial plaque � reversing heart disease.

Rob immediately gave us the full details... and 3 WEEKS LATER, Rob's readers saw 55% gains OVERNIGHT, when the company was sold to Pfizer.

For the drug I've been telling you about � Rob has been using his connections for the past 2 years, ever since he first learned about it in 2006 from the CEO.

Since then... we've allowed Rob a budget of almost a quarter million dollars to learn more. That may sound like a lot of money... but it's been more than worth it. Take a look:

Rob flew out to the company headquarters... toured their private facility... and met over coffee with the CEO, to find out exactly when the drug will be ready. He then met the drug's British inventor, joining him in his office... a room lined with academic tomes and medical journals.

Later Rob called a Ph.D. gastroendocrinology expert at Johns Hopkins University... and then held a conference call with both his Hopkins Ph.D. contact and the company's CEO, to discuss even further.

In short, Rob probably knows more about this new drug than any other analyst in America. He's really the only person you should follow to profit from it...

You see, when it comes to making money in biotech... you have to understand the science... you have to understand the business. And you have to develop contacts. All this costs tens of thousands of dollars and many years to accomplish...

That's why Rob's full report on this drug � March 30: Biotech's Last Great Blockbuster � (details below) will show you exactly how to get in right away... for the biggest return in the shortest amount of time.

But is this investment right for you?

Well... whether you put your money in this penny stock or not, all I can say is that when it comes to finding little biotech firms that can make people a fortune... I've never met anyone with better inside access than Rob Fannon...

Long before we ever hired Rob, for example, he analyzed Intuitive Surgical (ISRG) for us, a surgical device maker. It rose 133%.

Same thing with Elan (ELN), a drugmaker for immune disorders. Rob was among our consultants... and the hot stocks skyrocketed over 400%.

But there's another reason why Rob's research can make you rich...

Early stage windfalls

Passing him on the street, you'd probably never even notice Rob Fannon...

A quiet man, he spends his days in a small office peering through his pair of dark-framed glasses at medical journals (The New England Journal of Medicine), and pausing to look out the window at the Baltimore skyline.

But throughout his career, Rob has uncovered a proven way to make the quickest, biggest gains on no-name biotech stocks, a strategy for uncovering the best early- stage windfalls in the business (like the overnight double on RNAI).

In a nutshell: he's a Phase 1 trial expert.

A Phase 1 trial, as you probably know, is the first step in FDA clinical trials before a company can receive approval for a new drug or medical treatment.

The most profitable "Phase 1" developments are those made by small, early-stage companies with BIG IDEAS that can change the face of medicine... with potential to grow 1,000% or more... like the one I've been telling you about in this letter.

I've been in the financial business for almost a decade, and even now � after everything I've seen � nothing compares to the feeling of watching a tiny stock take off, turning a small stake into a bigger sum of cash than you've ever made on a single investment.

It's how I felt when we recommended JDS Uniphase, for example � which gained 592%... Texas Instruments (301% gains)... Cree (271% gains)... and Seabridge (700%+)... among many others.

These are the situations Rob specializes in... Put simply: To really make money with drugmakers... you absolutely MUST know the scientists... researchers... doctors... FDA officials and CEOs who understand � long before Wall Street � where the next "big thing" is coming from.

Experts in every industry always know more than outsiders, but when it comes to FDA test results like those we're anticipating on March 30th... where approval can make or break a company... "on the ground" perspective is critical.

Frankly: these are the kinds of investment opportunities that can literally change your life... where an investment of $10,000 can quickly turn into enough to buy a beach house... or pay for several kids' college education... or allow you to just quit your job � forever � and retire on the proceeds.

It happens a lot more than most people think � you just have to know about the RIGHT company at the RIGHT time... with help from the experts directly involved.

Now you can see why Rob has gone through a $200,000 budget to research the company I'm telling you about...

Again: this penny stock has already put the drug through its PHASE 3 trial, which will have its results announced by March 30th.

And it gets even better...

Not only has Rob prepared a detailed Research Report giving you the full story of this company... and how to get in for the biggest possible gain... but:

Rob has also found a secret way to eliminate much of the risk in the best stock, while giving you an even FASTER way to see a triple-digit upside.

Let me explain...

Shortcut: 400% upside

There are 2 ways to play this opportunity.

The first is by simply buying shares of the penny stock, which Rob outlines in his full report.

But there's a second play that you can use to get into the stock... and as a result � reduce your risk to almost nothing while shortcutting to 400% in possible returns. We've done this many times before at S&A Research...

For example: last July we did this with healthcare firm Palomar Medical (PMTI)... and saw 490% gains on just a tiny move in the stock.

Or consider March 2007. The FDA announced test results for a new drug by Dendreon (DNDN)... and S&A readers saw a 314% jump in the stock. But by following our 2nd play � some made even more...

Joe Samuels from Woodland, Calif. saw a 1,017% return in less than 48 hours... enough to turn every $5,000 stake into $50,850. And John Bailey saw a 771% return from the FDA announcement.

In short � Rob is also recommending an options play.

You see, with options, you can make 10 TIMES the return of a stock... often even more. All it takes is just a tiny move in share price to make you a killing.

For example, in early December we published an options play for Silver Wheaton (SLW), a silver miner. The stock barely moved, inching up 3 points... But readers saw a 250% gain � in just 14 DAYS.

That's the great thing about options: Not only can you make more money, but the return comes FAST... in many cases, on the exact same day you get in:

That's why in Rob's full report about this situation, he'll be including details on a secret options play � a way to ensure that even the tiniest move in the stock could shoot your return many times higher, immediately, to at least 400%.

But I know what you're thinking: "Options are risky..."

Well, the truth is � by using options you can actually REDUCE your risk. It's simply a matter of poring through dozens of potential plays, looking for the perfect option. And in biotech, that requires days of analysis by only a veteran trader.

Fortunately for Rob... he's got a secret weapon in the options business.

Meet Dr. George Huang � a Ph.D. biochemistry expert who specializes in options biotech plays, with a focus on companies on the verge of major buyouts:

When Indevus Pharm. (IDEV) got bought out by Endo (ENDO) in early January... Dr. Huang's options play saw a 186% 1-day gain.

Dr. Huang's play for Neurocrine Biosciences (NBIX) saw an astonishing 100% gain in just 14 days. His play on ImClone... 100% in 30 days. And Alpharma.: 100% in 58 days.

Quite simply: With additional analysis from Dr. Huang, Rob has pinpointed what we believe is the single most effective and safest options play for this situation.

In Rob's new report � March 30: Biotech's Last Great Blockbuster � he'll explain exactly how to execute the play... for the biggest gain in the shortest time span.

If you'd like to get a copy... well, I have some bad news.

As I warned you earlier, this investment opportunity won't be right for you unless you're willing to execute Rob's recommendation immediately.

But there's another reason why this situation may not be right for you... especially in today's markets and economy. So I urge you to read on carefully.

Be aware of 3 things:

To put it gently: Unless you can afford it... Rob's research is probably not the best thing for you right now. And in fact � it probably never will be...

You see � unless you're one of the more experienced readers: You simply don't have the resources to 1) pay full price for this work (see below)... and 2) take a large enough stake in the play for a chance at making real money.

But more importantly...

3) Unless you're comfortable making very speculative plays in top stocks, which most people have never heard of, or unless you just want to watch and learn � you'll be wasting your time.

Said differently: The investment opportunities Rob uncovers aren't for ordinary investors: Folks who wait around for dividends and rely on 401(k)s. It isn't meant for amateurs trying to get a hot tip to pad their Social Security income...

If that sounds like you, please stop reading now.

In short, we only publish Rob's research for a very small audience: folks who have the resources to afford it... cash in on it... and might want to stomach the often bumpy ride of biotech � which most people try to avoid.

And that's why we're limiting access to Rob's new Research Report (March 30) to our most expensive and sophisticated advisory service: Phase 1 Investor.

To my knowledge � there's no other investment research service in the world that compares to Phase 1 Investor. It costs more to produce than any other advisory at S&A Research... not just in terms of
money, but in sheer time alone.

Tracking down tiny companies with early-stage breakthroughs takes months and sometimes years
of research. (As I said before: we've waited 2 years for test results on the drug I've been telling you about.)

Tens of thousands of dollars go into each new recommendation, on travel (air and hotels)... consultant fees... lab tests (on occasion)... and conference meetings.

To keep up with modern biotech, every month, Rob logs hundreds of air miles, to attend meetings for The American Society of Hematology... The American Society of Clinical Oncology... The Drug Information Association... and many other major meetings of the world's top medical specialists.

In other words: Phase 1 Investor is where we publish our most rigorous research.

As a matter of fact: That's one reason we hired Rob. Most analysts hate doing the legwork of research, but there's nothing Rob loves more than flying around the country to meet with executives and key personnel behind Phase 1 trials. (It's not surprising, given his background...)

You see � Rob studied physiology and biochemistry as an undergraduate, and has worked as a scientist in both the academic setting and the private sector.

He got his first big break from the Government's top medical headquarters... The National Institutes of Health (NIH)... where the country's best scientists evaluate new drugs and medical breakthroughs, and award billions in grants.

In particular, he did NIH genetics work for a Maryland-based biotech company... which he helped expand, by setting up a new division in Hyderabad, India.

At Johns Hopkins University, the country's top medical school... he got a Masters degree in Public Health, an MBA, and made several key contacts.

He also worked at Cedars Sinai Medical Center, in the prestigious Comprehensive Prostate Cancer Research Program, where he made other contacts (such as Dr. P. K. Shah, who tipped him off to Esperion � which gained 203%.)

Bottom-line: Rob is uniquely qualified in this business.

In fact, when Rob finished school... at first we didn't think he would come to work for us... especially after what he said during his interview:

"I don't want to write any advertisements," he told us right away. "I don't like any hype."

You see: Rob has never been comfortable with financial advertising � which of course portrays every single investment idea as the Holy Grail of Biotech... the cure of cancer... and so on.

In fact, for many months in the beginning... he didn't allow us to advertise Phase 1 Investor at all. Unless you knew about it, there was no real way to get in.

But that's what I love most about Rob: He's conservative. He's quiet. He's safe. I'll give you a quick example... so you can see how important this is in biotech.

A while back... Rob found a tiny biotech company called Renovis (RNVS) that had just developed a new drug for stroke victims.

From a medical standpoint, Rob found the drug � and the company behind it � compelling... so he immediately paid a visit to his friend and colleague, the head of Johns Hopkins University Stroke Research.

Right away � his Hopkins contact said: "No way. You're flipping a coin on this."

Rob scrapped the idea. 3 months later, Renovis TANKED 75% when the Phase III trial failed. Rob avoided this bomb as a result of good, hard diligence.

Bottom-line: When Rob makes a recommendation... you can be sure he's studied it from every angle, to make absolutely sure that you're going to make money.

Walking past his office recently, I saw him hunched over his computer, typing up his new report (March 30)... long after most of our employees had gone home for the day. I knew he'd be there for hours.

But that's exactly what you want when it comes to investing in new drugs: a smart analyst who lives for these situations, interviewing the key insiders who know.

The only question is: Assuming you can afford Rob's research (see below for what we're asking), is this new obesity drug truly the right investment for you?

CEO will brief you

I recommend you decide for yourself after learning the full details from this tiny company's CEO... who will brief you on how it works.

You see, as part of his research � Rob held a conference call with Phase 1 readers and invited the CEO, along with a weight-loss expert at Johns Hopkins... and the full transcript of the call is available online, for all new Phase 1 members.

When you join Phase 1 Investor... you'll receive instant access to the transcript along with Rob's full new report: March 30: Biotech's Last Great Blockbuster.

This isn't a one-time thing, either. Every month, Rob puts together an extremely detailed Research Report on a new Phase 1 opportunity. When appropriate, he'll then host a special Conference Call or Web conference to discuss the situation in full.

Joining Rob on these conferences will be industry insiders, company executives and independent researchers he meets while investigating each new opportunity.

(Of course, you'll be invited to join as well, so you can hear and learn about these new developments and great opportunities firsthand. If you can't make it... don't worry. Rob will always post the conference for you, online.)

**In fact, on February 11th, Rob will be hosting a new conference to discuss this opportunity... featuring biochemical options expert Dr. George Huang, along with Rob's contact at Johns Hopkins University, a professor of medicine who has been studying obesity for almost 20 years... has published 19 science articles about it... and has worked with the Government's NIH.

The conference will be online. Simply log on... and listen. You'll be able to submit any questions you might have � and hear the panel's response.

The only catch: You must reserve your spot immediately. (You can get started by following the link below.)

By reading Rob's full report... and listening to the experts firsthand... you'll know for sure whether or not the investment is right for you.

As you can see � we do everything we can to make sure the recommendations in Phase 1 Investor are among the best-performing research we publish.

As a matter of fact � several CEOs of the companies Rob has recommended have told him his research is the most informed of any analyst they've seen.

And that's why Phase 1 Investor is our most expensive research service.

That said, I believe Phase 1 Investor is actually also the best bargain of anything we publish � considering the amount of time... money... and effort that goes into each new recommendation.

The cost for one full year of Phase 1 Investor is $5,000.

If that sounds like too much money, I can tell you right now: Rob's report won't be right for you. I suggest you look into one of our other research advisories, such as 12% Letter or True Wealth... for folks who are just starting out.

But there is some good news. For reasons I'll explain shortly � for a limited time only, you can get Phase 1 Investor for almost 50% off the standard price.

Quite simply, you can become a member for just $2,600.

Believe me � we don't do this often. Once the offer expires, the price will go right back to $5,000... and will probably stay there for quite some time.

But we're making you this offer because the truth is... we believe the coming year is going to trigger an absolutely incredible biotech bull market. In particular, Rob thinks we'll see a tidal wave of mergers and acquisitions... such as the one we just saw in early January � when Indevus got bought out by Endo. (Rob's readers saw a 1-day gain of as much as 186%. And that's just the beginning...)

You see � in the past four biotech bull markets, you could have booked 3 triple-digit gains and one quadruple-digit return... simply by buying the biotech index.

Imagine, on the other hand, banking several-hundred-percent gains on one small stock after another... like the
one Rob shares in his new report: March 30.

As I said earlier, that's why we publish Phase 1 Investor: to focus on the kinds of opportunities we simply can't recommend to a mainstream audience.

If this sounds like something you're interested in, here's what I recommend:

Sign up right now for a trial subscription to Rob Fannon's Phase 1 Investor. You'll have immediate access to Rob's full new report outlining the opportunity I've been telling you about: March 30: Biotech's Last Great Blockbuster.

Even better: You'll have access to Rob's full archive of Research Reports � where you'll learn about 17 more Phase 1 opportunities he still considers a strong buy.

And you'll also receive full details on how to attend the Web conference Rob will be hosting on February 11th, with his panel of biotech and obesity experts.

Then, take the next 3 months to decide if Phase 1 Investor is right for you.

During that time � you'll receive Rob's monthly reports... and be invited to join any special conference-call meetings.

And remember...

As I've said throughout this letter: We're all waiting for March 30, when the FDA results will be announced for a new drug that could soon become "the bestselling drug in the history of medicine," as one experts puts it... and successfully tap "the largest pharmaceutical market ever" (BioWorld). According to Rob, this is one of the most exciting events he's seen in his career. If you're even considering a stake in this company... I urge you: get your hands on Rob's report, immediately.

If you decide Phase 1 isn't for you, simply cancel your subscription before your 3-month trial period is up. You'll get a full refund � 100% � no questions asked.

Remember � your chance to save ALMOST 50% on a full year of Phase 1 Investor will end shortly. After that... this offer expires.

P.P.S. As I mentioned earlier, we believe the announcement on March 30 could create the single biggest gain of any investment we've ever found... in 10 years in the business. But I'm sure you have a few questions about this situation, and I imagine you have a few doubts I haven't covered here.

That's why we've prepared a special "Frequently Asked Questions" section of this letter... which you'll find below, telling you exactly what we know... how we know it... what to expect... and why the biggest potential return could come any day now.

Frequently asked questions:

Q: How can I be sure results will come out on March 30th?

A: Rob Fannon has received a 141-page official document about the drug directly from the company headquarters. On page 12 � it says explicitly that at the end of March, results will be announced.

Q: What if the drug doesn't receive approval?

"I have lost about 90 lbs., can actually exercise, and I can look in the mirror without flinching. Of particular note was the fact that I cannot stand to eat chocolate or fried foods. They both make me nauseated. Quite a change from the dark chocolate gobbling junkie I was prior to the program."

- 45-year-old man in drug trial

"I'm just completing my first week in the study. But as a diabetic, I'm thrilled to say my blood sugar's nearly down to normal from sky high a week ago. I definitely find my appetite's greatly reduced and I have to structure my eating to ensure I don't forget meals."

- 37-year-old woman in drug trial

A: We already know the drug works. We have quotes from patients (see right)... and we have early results from the Phase 3 trial, showing that it beats the placebo (no drug) by 500%... and has successfully treated
almost every single one of those on drug among the 3,000 patients currently enrolled in the clinical trials.

And don't forget: Unlike most new drugs, this one has already cleared the Phase 1 and the Phase 2 trials. In other words: all that's left is the red tape of filing it with the FDA. That's why most new drugs (like the examples I gave earlier) usually see their biggest returns long before the FDA gives official approval.

Having said that � yes, there is always the possibility of this drug not receiving approval. But this is the type of speculation that's definitely worth taking in the investment world... where the odds are extremely high in our favor... along with the very real potential to risk a small amount of capital � and see gains of 400% or more. Of course � you should not get involved if you cannot accept that risk. And even if you can, we recommend you invest only a tiny fraction of your overall portfolio.

Q: What if the results aren't as good as you hope?

A: We believe it won't matter. As you know, the markets rise and fall on emotion more than anything else. Even if results aren't totally perfect � it could attract so much heated attention the drug will appear in newspapers... magazines... and on news shows.

And as I pointed out earlier... once the press catches on to a situation like this, it's all over. The best stock has usually taken off. That's why it's critical to get in before the media hype begins.

Q: What makes you so sure the media will jump all over this event?

A: Well, even as I was writing this letter... we saw 2 separate reports on the NBC Nightly News show about the growing problem of obesity in America. In fact, one story told of how the U.S. Army is taking steps to reduce obesity.

Not a day goes by in this country when there isn't some new study or news report detailing the negative effects of obesity. The bottom-line is: The number of overweight people in America is attracting the notice of medical professionals everywhere, and even the Government.

If this drug goes public � it could be given to so many people, old and young, man and woman, that it would become a household name... create a market worth $10 billion... and turn early investors into millionaires. It's that simple.

Q: What if I decide this investment isn't right for me?

A: No problem. You'll receive 3 full months to give Rob's Phase 1 Investor a no-risk trial subscription. Once you read his report... and look through his archive... if you decide his work isn't right for you, just let us know.

You'll get a total refund � every last cent, no questions asked. And his new report, March 30: Biotech's Last Great Blockbuster, will be yours to keep.