Nothing like a Fed Chairman mentioning the word stimulus to boost the market. Fed Chief Ben Bernanke gave a speech yesterday morning saying the need for additional stimulus remains. Investors read that as an indication that QE3 was around the corner and reacted with a buying frenzy. The Dow ended the day up 161 points to close at 13,242. The Nasdaq tacked on 55 points and the S&P 500 added 19 points.
The rally on the street was set against backdrop of another economic data point miss. Pending home sales, expecting a rise, declined from January to February. The housing market at this point is just refusing to recover. Couple that with an anemic labor market and the recovery is halting at best, a mirage at worst.
No matter what the broader market does, you can always count on penny stocks to give you the volatility. Today was no different as several old pumps continued to churn volume. Some new faces emerged in the pack giving day traders something to feast on.
Be sure to check out https://www.pennystockstrategy.com.
Penny Stocks to Watch
NeoMedia Technologies Inc. (OTCBB:NEOM) rallied 39.33% yesterday and closed at $0.0418. Volume was heavy on NEOM on Monday with 123.5 million shares traded, way above its daily average of 30.2 million shares. About a week ago, NEOM was all the rave after rallying from around $0.01 to over $0.05 in the span of two days. The rally was short lived though as the stock came crashing back to earth. NEOM started another smaller rally late last week and is currently up 100% from where it was trading last Thursday.
Solos Endoscopy Inc. (PINK:SNDY) closed Monday up 18.24% at $0.0201.SNDY traded over 84 million shares yesterday and hit an intraday high of $0.0235. Over the past 5 days, SNDY has jumped up more than 100%.
Herborium Group (PINK:HBRM) ended Monday up 93.75% at $0.0062. HBRM traded 142.9 million shares yesterday. The last bit of news for Herborium Group came on March 16 when they said they will make a major announcement on April 6 regarding its business.
Empire Post Media Inc. (PINK:EMPM) closed Monday up 17.50% at $0.2350. EMPM rallied on huge volume on Monday with over 4.1 million shares traded. Empire Post Media announced yesterday it will distribute “Journey Beyond” worldwide after adding reality TV showrunner Stuart Schwartz to production team.
Water Technologies International (PINK:WTII) finished Monday up 29.87% at $0.10. WTII traded 9.7 million shares yesterday after the company announced it opened its first international distributor in South Africa.
Be sure to check out https://www.pennystockstrategy.com.
About Kyle Pinder
