Penny stocks are once again being dominated by a fresh round of pumps. After several fake-outs, the new big promotion was confirmed to be GWBU. So far it is not off to a stellar start, giving up gains as investors front-loaded the stock heading into the promotion. You know it is not a good start when notorious penny stock shorter, Timothy Sykes, is already circling the stock.
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Other notable active penny stocks are mostly former pumps and few message board / chat room plays. Traders in these types should be nimble on their entries and exits because like anything in the world of penny stocks, volatility reigns supreme.
On the broader markets, the major indices are whipsawing around as investors are waiting for the next shoe to drop in the ongoing EU soap opera. [Continue reading]
