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(EMAILWIRE.COM, February 11, 2012 ) Chicago, Illinois - On a day that saw a lot of red, Mission NewEnergy Limited (NasdaqGM: MNEL) surged and gained nearly 50 percent.
Shares of the biodiesel company closed up 44 cents to $1.35 or up 48.35 percent. The 52-week range for MNEL is .79 to $8.15 according to The Stockfather web site.
The Stockfather (www.thestockfather.com) cautions those looking to short MNEL. The float is low at just over 2 million and shares outstanding are 8.6 million.
Mission NewEnergy Limited is a renewable energy company which owns and operates biodiesel refinery plants. It also produces pharmaceutical grade refined glycerine & palm fatty acid distillate, a by-product from refining crude palm oil used in soap, animal feed.
In addition to having a low float, Mission NewEnergy Ltd. (MNEL) is recovering from an all-time low and is in position to become a leader in the alternative fuel industry.
TheStockfather.com has a short term target price of $3.00 for (MNEL) and a one year target of $8.
There are several other stocks that The Stockfather cautions when shorting. All are climbing and building momentum which could burn those who are shorting.
One is Rite Aid Corporation (NYSE: RAD). Shares of RAD closed on Friday at $1.54. RAD is not far off its 52-week high and could continue its climb up.
Clearwire Corporation (NasdaqGS: CLWR) closed at $2.08, up 4.5 percent on Friday.
DryShips Inc. (NasdaqGS: DRYS) closed at $3.00 on Friday and has been climbing steadily since bottoming at $1.75.
Arena Pharmaceuticals, Inc. (NasdaqGS: ARNA) closed at $1.94 on Friday.
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About The Stockfather:
The Stockfather searches the markets (from OTC to NYSE) for stocks positioned to make big gains. Stocks and companies are featured on The Stockfather web site and e-newsletter.
Disclaimer:
For this news release, The Stockfather was not paid to profile the company(ies) or stock(s) mentioned. The Stockfather does not own any shares of the stock(s) mentioned. The Stockfather is not a registered investment advisor. Investors are responsible for doing their own research and obtaining professional investment advice. Investors should visit www.thestockfather.com for further disclosure information.
The Stockfather
David Conway
312-473-5916
alerts@thestockfather.com 
Source: EmailWire.com
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