The Motley Fool's CAPS investing service is one of the newest additions to the investing community at Fool.com, and it's another great way for investors to work together to beat the market. One of the features in CAPS allows users to set up a blog to talk about their picks, investing strategy, market view, or what they just had for lunch (if they so desire).

I've scoured through some of the most recent blog posts in the CAPS universe to bring you some of the great content CAPS players are putting out.

Dendreon gets donked
 Dendreon (NASDAQ:DNDN), a biotech company focusing on prostate cancer, hit the radar of many investors in late March when the stock soared more than 100% in a single day. The reason for the jump was a letter from the FDA's Office of Cellular, Tissue, and Gene Therapies Advisory Committee that said it saw "substantial evidence of [the] efficacy and safety of Provenge" (Provenge is Dendreon's cancer drug). By the time the stock's post-announcement run was over, it had gone from $5.22 to as high as $25.25.

Last Tuesday, investors saw the other side of biotech volatility. Dendreon announced it had received a letter from the FDA asking for yet more information on the efficacy of the drug. The news sent the stock into a tailspin -- it dropped 64% in a single day. A number of CAPS bloggers took out the pen to share some of their thoughts on Dendreon.

Looking primarily at what's ahead, EPS100Momentum points out that:

Bank of America analyst William Ho [g]ot it right with Dendreon. He said on April 26, 2007 that the FDA will approve Dendreon's drug after more data is submitted and placed a $29 target on the stock. Now that the FDA has asked for more data Dendreon is almost home free to approval ... remember that the same advisory committee that voted 17-0 in favor of Dendreon['s] drug will review the further data.

And CycleFreak7 is just plain frustrated that he got burned twice by Dendreon. He laments, "Dendreon has done it to me again. The FDA asks for more data and the stock drops 60% after I had picked it for outperform. This after a -256 [CAPS-point] drop when I picked Dendreon for underperform. So, I have now netted a grand total of over -300 points on a single stock." Fortunately, CycleFreak7 has not put real money into Dendreon -- yet another reason why it's great to test ideas and strategies on CAPS before taking them to the "real world."

If the auto industry blows up
In our next stop, weiwentg shares his thoughts on where opportunity might show its shining face if the U.S. auto industry continues to slump.

Comerica (NYSE:CMA) is a business bank with a very good reputation. It has a significant presence in Michigan, though, and some exposure to auto and parts suppliers in its loan portfolio. It would be hurt quite badly if American auto manufacturers were to self destruct. But they are a solid bank, and would survive.

Now, I hope the US manufacturers don't self-destruct. However, I think that Ford (NYSE:F) and GM (NYSE:GM) have way too much capacity and onerous labor contracts. In order to sustain the lifestyles they're accustomed to, the UAW is going to be very unwilling to cut costs too far. That's not a knock on the unions, because some CEOs do the same, and probably more egregiously. But there is certainly a lot of pain ahead for Michigan.

So, if a crash comes, I would wait a while then pick up Comerica stock. I hope it doesn't come to that.

For more writings from weiwentg, check out his blog here.

The king's new tax on smack
Finishing on a fun note, as is my custom, here is a great post that I found on tim2pac's blog:

I found this little tidbit on the net today:

"Last year, Tennessee became the latest of more than 20 states to tax illegal drugs. Under the law, when you acquire an illegal drug, you have 48 hours to report to the state and pay your tax, although you aren't required to identify yourself. Once you've paid, you'll receive stamps to put on your illegal substance to show evidence you paid the tax. You don't have to identify yourself to pay the tax."

Are you kidding?

This is a great example of why some laws are pointless (gun free zones, etc.) because in the end only people with respect for the law follow it.

Though I did find out after reading this that the law was ruled unconstitutional in July of last year, I still got a nice chuckle at the creativeness of Tennessee's Department of Revenue. For more thoughts from tim2pac, check out his blog here.

Now it's your turn -- get off the sidelines, join CAPS, and start up your own CAPS blog to share your knowledge and insights with the rest of the CAPS universe.

Fool contributor Matt Koppenheffer shares some thoughts of his own on his CAPS blog. He owns shares of Bank of America, a Motley Fool Income Investor pick, but does not own shares of any of the other companies mentioned. The Fool's disclosure policy does not have its own CAPS blog, but if it did, it would blow your mind.