MyeCheck Continues to Grow Rapidly

Company: MyECheck, Inc. (MYEC.OB)
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In evaluating stocks, it is extremely important to consider
other investors psyche. Especially when looking for
shorter term profits, (under 6 months).

You' see the one thing Wall Street wants is growth. They
won't care if its sustainable, they won't care about the long
term effects... Wall Street loves companies that do more
today than they did yesterday.

CEOs pursue growth to ensure their tenures and to
increase their take-home pay. Wall Street brokers pursue
growth to ensure their reputations and to increase their
take-home pay.

It is growth, or more importantly the news of growth that
fuels short term price movements.

... And in last weeks stock report on MYEC I explained
their rapid growth, and my theory on how they'd continue
to grow was why I chose them.

First, let me remind you of the MyeCheck business model:

You' see with the worsening economic climate, there
are now more and more people either without credit
cards or owning cards with no credit.

In fact it is estimated roughly 45% of Americans do not
have the means to shop online at sites which only
accept card payments.

MyeCheck, have developed a proprietary system for
accepting payments, straight from customers bank
accounts.

The system utilizes the new "Check 21" act, which states
it is now legal to process check payments with a digital
scan of the check.

This is a U.S. law put in place in 2003, which is forcing
the clearing times on checks to be reduced dramatically.

And MyeCheck's system works like this...

Shoppers enter their bank details, just like a normal
eCheck. These details are sent securely to this company
whom print a physical paper check.

This check is then scanned to produce a digital image,
called a check substitute. The original paper check is
then immediately destroyed.

The images are sent to First Regional Bancorp of
Century City, which routes them through the Fed's
image network to paying banks.

This has one major benefit in comparison to a normal
eCheck. Because digital images are created, they are
sent to the paying bank in a matter of seconds, instead
of days (like a physcial check).

In fact, eChecks processed on the MyeCheck system
are typically accepted in 1 to 3 seconds. Allowing for
instant confirmation funds are available...

And eCommerce stores can feel confident enough to
ship orders instantly.

As you can see, MyeCheck has a strong business
model... They have developed the technology to
process these eChecks in seconds and this
proprietary technology is awaiting patent approval.

But as explained, a good business model isn't enough
to get me interested in a stock.

Coca-Cola has a good business model, but they are not
a good investment.

Why?

Because the stock price already reflects this business
model, and in my opinion there are only two ways of
finding good stocks:

No 1. Find an undervalued company, overlooked by
Wall Street. These are often boring companies, funeral
companies, distribution companies -- The type no
Wall Street hotshot would talk about.

These overlooked companies are hard to find, but they
almost always represent great investments... Some have
more cash in the bank than the market values the entire
company at!

No 2. Find a company where you have strong reason
to believe will continue to grow rapidly.

(If a company grows, then it will become more valuable.
And the stock price should rise accordingly.)

... The reason I chose MYEC is because I believe
the rapid growth they have already experienced will
continue.
Well since releasing MyeCheck as a pick, they have
continued to grow signing up 3 more large clients:

- Symmetry Direct (http://biz.yahoo.com/iw/080610/0404531.html)

- CedarStore.com (http://biz.yahoo.com/iw/080611/0405603.html)

- Unlimited Furniture (http://biz.yahoo.com/iw/080612/0406286.html)

And more importantly, they confirmed the business is
experiencing rapid growth by releasing the following
Press Release:

[You must be registered and logged in to see this link.]

(In the above Press Release MYEC announces 100%
revenue growth in just two months).

And yet...

MYEC moved from $3.45 last week to a high of $4.00.

But since then, it has fallen back to the same level at
which I made it a stock pick last week.

And I believe over the next 6 weeks, as they continue to
sign contracts, and report on growth more and more
investors will start watching MYEC.