On December 5th, 2008, uWink (NASDAQ: UWKI.OB) made an “odd lot” tender offer to purchase all shares of its common stock held by persons owning 99 shares or fewer on the close of business as of December 1, 2008.

The offer was designed to reduce the number of total shareholders of uWink’s stock to under 500, whereby uWink would then deregister their stock from the OTC/Bulletin board and spin off their technology licensing business as a dividend to existing stockholders.

Every month I like to take a look at my existing portfolio and positions and examine what should be done, if anything, with those names.

Here's a look at my top holdings, and what I think you should do if you have new money to invest right now, with links to where you can read more about each company.

It’s been a recurring theme with the large scale selling in the market but uWink (NASDAQ: UWKI.OB) in particular, as those that own these stocks panic and try to make sense of their investments.

It’s been another incredible month for stocks, and especially for those on my watch list.

With rare exception, stocks of all shapes and sizes are getting pummeled and are presenting us with great buying opportunities for those with a long term investment horizon.

uWink (NASDAQ: UWKI.OB) finally completed their deal with InSite Development, a real estate company that rehabilitates and develops properties in the Southern California area, that placed 100 uWink touch screen terminals within InSite’s latest real estate development for seniors, Arbor Court, in Lancaster, CA.

This groundbreaking deal is the first of its kind. It pairs 100 of uWink’s touch screen terminals in a common area where seniors can play and interact with the terminals via group games such as bingo, or solo games that are designed to increase memory and stave off the ravages of the aging process.

The tumultuous market has continued to beat down stocks of all shapes and sizes.

This is great news for those of us waiting on the sidelines to put new capital to work.

I’ve been biding my time with uWink (NASDAQ: UWKI.OB) for the last few months or so as the price has plummeted from around $1.40 per share to the now bargain basement price of $0.55 per share.

Things change quickly in the market.

What looked attractive last month, now looks overvalued, or further due diligence has proven it to contain some warts.

After taking a look at the latest quarterly results from uWink (NASDAQ: UWKI.OB), parsing the numbers, and talking to management, it struck me that it’s a good thing that uWink isn’t a restaurant company because it was not a pretty picture…and then I caught myself.

A precipitous drop in share price of some of the stocks that I have, and will continue to recommend, on PeakStocks.com is not uncommon.

In fact, on my Investing Style page, I outline the risk factors that come with investing in these types of stocks, and the fact that you have to be prepared to lose 50% of your investment in rapid fire succession.

The recent market turmoil has given us a wonderful opportunity to nab stocks on the cheap.

Today I wanted to give you a heads up on some of the stocks that I was watching for possible inclusion into the PeakStocks.com portfolio, specifically ones that are high on my list, and most likely to be added as formal recommendations in the weeks to come as they reach desirable price points, and present wonderful opportunities for long term investors.

It’s time to go Hollywood!

uWink (Nasdaq: UWKI.OB), an entertainment and hospitality software development company and the operator of an interactive restaurant concept called uWink, has made it official and has sent notice that they are opening their latest location at Hollywood and Highland June 27th, 2008.

It looks like we have a little bit more clarity from uWink (Nasdaq: UWKI.OB), an entertainment and hospitality software development company and the operator of an interactive restaurant concept called uWink, concerning their latest 2 restaurant locations that are scheduled to open later this summer.

• Mountain View, California Location: Today in an 8-K filing, uWink announced that on May 23, 2008, the company closed escrow on the acquisition of certain restaurant equipment and a liquor license (for use at its new restaurant location at 401 Castro Street, Mountain View, California) from Miyake Foods, Inc., the former occupant.

The consideration for this asset acquisition was $250,000 in cash and this now allows uWink to go ahead with the final build out and processes necessary to open this location.

A while back I had said that uWink (UWNK.OB) has been quiet for awhile, and that I expected some announcements from the company shortly.

Well, uWink certainly delivered with a couple of new deals that further strengthen their restaurant side of the business, and more importantly, their software and content side of the business.

uWink (UWKI.OB) updated the status of their potential restaurant openings after the market closed on Friday, December 21st.

The not-so-good-news

There have been some interesting developments in the uWink (Nasdaq: UWKI.OB) story that I wanted to update you on. The most intriguing of these is a deal that uWink recently announced with Volanté Systems, a leading hospitality technology provider, whereby uWink will team up with Volanté to co-develop and co-market innovative technology solutions for the hospitality industry.

Recent Developments

I’ll break down the latest uWink developments into 4 sections:

I’m hungry and bored, let’s go eat and then do something…

Usually this means the traditional dinner and dancing, a movie, a bar, or other socializing event AFTER eating your food.

The stock experienced a temporary pop in mid-November when uWink was featured on CNBC. It is rare for a company on the Over-The-Counter exchange to be the subject of a CNBC story but Bushnell articulated to Jane Wells uWink's vision of social gaming and targeting women with casual video games. Momentum traders stampeded in and out of the stock but the exposure the restaurant received was priceless.

In January, uWink launched "24" nights. Jack Bauer fans congregated at uWink every Monday night to watch their hero save the world again. The TV show was projected on the walls throughout the restaurant and customers played 24 trivia at their table's touchscreens during commercial breaks in a bid to win free desserts and t-shirts.