ICO Global Communications is a space bound company operating medium orbit based satellites. The company aims to provide wireless voice, video and internet services in the United States. While the company has an exciting business model it is important to note that ICO filed for Chapter 11 bankruptcy in 2009. Showing 51-million in cash and just 15-million in debt, ICOG seems like it has found its financial footing for the time being. Despite past financial hardships, the company is heavily owned by insiders and institutions with 24% and 34% respectively.

The company has been the target of short sellers the past 3-years since its Chapter 11 filing. Making a low of just .12 in late 2009 the stock is now valued at $3.23 as of June 24, 2011 at market close. Although the company is speculative in nature and has seen major upside already, we believe another push up could be just around the corner. The Russel 2000 index re-balancing last Friday resulted in a major move higher for ICOG on heavy volume at the close. As the stock punches through old highs some of the 6% (4.2 million) share short interest should begin covering. If the overall market can hold steady, we think ICOG can reach $3.60 in the near term based on its chart.

Although we might have re-entered a little early in Spartan we believe the reaction to today’s earnings release was overdone. The company reported a strong quarter, beating consensous estimates by .02 on higher revenue. Despite a quality earnings release (SPAR) was down more than 8% and closed near session lows. With Spartan showing such a beautiful multi-year breakout we simply couldn’t resist re-entering on the pull back. Watch (NASDAQ: SPAR) as it attempts to backtest support near $6.75. On a fundamental basis , we believe SPAR is worth somewhere in the neighborhood of $8.00-$9.00 per share as the auto industry recovers in 2011.

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Dow Jones Industrial Average by the Price of Gold

It is quite shocking to see the Dow Jones Industrial Average fall in relation to the price of gold. For the last 10 years massive wealth destruction has carried out, behind a curtain of bullish propaganda. While your portfolio may be rising to higher levels, it has done so at the expense of the US dollar and massive inflation. Now you might be wondering why you should care. First, the value of currency is relative to what it can purchase. When government dilutes currency purchasing power is lost. Secondly, dilution is a hidden form of tax or even “theft” since the Federal Reserve has no authority to print money. Newly issued currency steals value from existing currency. A lot of currency theft has already taken place and more will come as seen by the value of the US Dollar.

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The last point that should be discussed in this article is the topic of diversification. Most of us understand the concept of diversification after the Dot Com bubble and Worldcom and Enron scandals. However one place almost all Americans fail to achieve diversification is in their currency. Most Americans are 100% invested with the United States Dollar. Retirement plans, stock portfolios and bank accounts are 100% anchored with the US Dollar. This is alarming since our current monetary policy is set on trashing the value of the dollar. Additionally, no fiat currency has ever lasted more than than the human lifespan. You have already diversified in financial instruments like equities. Now take the final step and consider diversifying out of the US dollar. How can you do that?

1. - Buy Precious Metals (gold & silver)
2. - Buy Foreign Stocks
3. - Buy Foreign Currency
4. - Sell US Government Bonds and CDs

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