The bulls have seized the reigns once again and are leading the market higher. Ebbing concerns over Europe, at least in the near-term, have helped drive the broader market higher. Domestically, the economic data points were mixed at best. Housing starts took a dive, though permits jumped. Most of the permits were in multi-dwelling construction so any hopes for a real housing recovery are still on hold.
In the world of penny stocks, it is all about the pump that keeps on going. SNPK just keeps going up on promotional email after promotional email. One has to wonder when the momentum will dry up, and it will be sooner rather than later. Traders that want to play that game should realize eventually the music stops and they have thrown all the chairs overboard. But they cna be fun rides when they go up if you play them right.
Sunpeaks Ventures, Inc. (OTC:SNPK) continues to defy expectations as it jumps another 13% today at $2.22. I think it’s safe to say this pump has lasted longer than anyone thought it would. A dump could happen though at any time and looking at a chart you can see it has happened before. SNPK has traded 9.1 million shares so far today and averages around 20 million shares a day.
Perma-Fix-Environmental Services Inc. (NASDAQ:PESI) is up 10.56% this morning at $1.57. PESI has traded 223 thousand shares so far today, well above its daily average of 155 thousand shares. The company has a market cap of 88.02 million.
Luxeyard, Inc. (PINK:LUXR) is up 15.82% today at $1.12. LUXR has traded 1.5 million shares so far today, 8 times its daily average. LUXR shares have jumped nearly 100% this month. No recent news for Luxeyard, Inc.
EDAP TMS SA (NASDAQ:EDAP) is up 14.81% this morning at $1.86. EDAP has traded 1.6 million shares so far today, way above its daily average of 46 thousand shares. The company has a market cap of 24.96 million.
SEFE, Inc. (OTC:SEFE) is another pump that penny stock traders are jumping into. SEFE is up 7.97% today at $1.49. SEFE shares have jumped about $0.70 a share since late March. SEFE has traded 2.7 million shares so far today, well above its daily average 650 thousand shares.