Shares of Mechanical Technology and Medis Technology Purchased

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I purchased shares of Mechanical Technology Inc (MKTY) and Medis Technologies Ltd. (MDTL) this morning for the mutual fund and also my personal portfolio. Both of these companies are working on the miniaturization of liquid fuel cells so that they can power portable electronic equipment like cell phones and laptop computers. Both companies have also secured contracts from the military to research portable fuel cells for military applications. Both companies announced earnings recently and still show no signs of becoming profitable in the near future. However, they have both made progress on trimming their losses. I feel that one of these companies will strike it big in the future so I’m buying both and hedging my bet. Both of these stocks will not see substantial gains until they start producing equipment that makes it out of the beta stage in the next few years. Both companies are starting to trade at the lower end of their recent trading ranges and are entering the lower risk entry point. Medis should be a good buy at this price level since it is now sitting on some firm support. MDTL_20051116.png Mechanical Tech is currently sitting on some light support at the $3 level but could trade lower from here down to the $2.50 level and I would buy more that that point. MKTY_20051116.png I purchased a 1/3 holding in each for the mutual fund and a full holding for my personal portfolio. MDTL was purchased at an average price of $14.93 MKTY was purchased at an average price of $3.04 DISCLAIMER: I am not a registered investment advisor. The information and trades that I provide here are for informational purposes only and are not a solicitation to buy or sell any of these securities. Investing involves substantial risk and you should evaluate your own risk levels before you make any investment. Past results are not an indication of future performance. Please take the time to read the full disclaimer here.


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