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.
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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. [Read more...]