After a dismal week on the street, the major indices managed to close on a brighter note. Even with the positive close across the three major indices, the markets endured their worst week of 2012. The Dow closed up 34.59 points to 13,080.73. The Nasdaq added just over 4 points to close at 3067.92. Rounding out the positive day on the street, the S&P 500 added 4.33 points to close at 1,397.11.
Lukewarm data started the market off in the red but analysts said it was as if people that had missed the recent rally decided to buy the dip. This helped send stocks higher across the board. Plus a drop in the dollar helped commodities recover some of their lost ground.
The world of penny stocks continued to be dominated by older pumps. Lots of volatility in the usual suspects as everyone gears up for the next big one in the coming weeks. If you are risk-tolerant there seems always be a volatile penny stock in play.
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Penny Stocks to Watch
Sunpeaks Ventures Inc. (OTCBB:SNPK) closed down 1.97% today at $0.6470. SNPK traded 7.7 million shares today and hit an intraday high of $0.69. Sunpeaks Ventures announced earlier today a national advertising campaign to feature Clotamin. SNPK shares jumped about $0.20 this week after hitting a low of $0.45.
NeoMedia Technologies Inc. (OTCBB:NEOM) ended the day down 10.98% at $0.03 with an intraday high of $0.0356. NEOM ended the week down more than $0.02 per share from its high of over $0.05. NEOM traded 73.5 million shares today, well above its daily average of 29.1 million shares.
Solos Endoscopy Inc. (PINK:SNDY) closed up 51.79% today at $0.0170. SNDY traded 92.1 million shares today. SNDY ended the week up more than 100% after opening around $0.008 on Monday.
Ecolocap Solutions Inc. (OTCBB:ECOS) closed up 75% today at $0.0280. ECOS traded 24.9 million shares today, well above its daily average of around 400 thousand shares. ECOS began its current rally on Thursday after the company announced positive results in Chile lead to agreement. Under the proposed agreement, Fuel Emulsions International, Inc. is committed to purchase, own and operate all or most of EcoloCap’s manufactured processing equipment and additive for the production of M-Fuel and other specialty emulsion fuels. ECOS has jumped more than 300% in the past two days.
Bioflamex Corp. (OTCBB:BFLX) ended Friday down 15% at $0.0510. BFLX traded 12.2 million shares so far today and trades 11.4 million shares a day on average. The most recent news from Bioflamex is announcement of NFPA membership.
ImmunoCellular Therapeutics, Ltd. (OTCBB:IMUC) closed the day up 0.32% at $3.15. IMUC traded 911 thousand shares today, more than double its daily average. ImmunoCellular Therapeutics announced yesterday it entered into an agreement with the University of Pittsburgh under which the university has licensed to the company intellectual property surrounding EphA2. The company has a market cap of 121.91 million.
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About Martin Stephenson
