Penny stocks are not the only index feeling the volatility today. The broader markets are feeling the pinch today after growth concerns emerged out of China. Mix it some European deja vu and you have the makings for a negative day on Wall Street.

Right now the major indices are down on the day and the declines are accelerating. The Dow is off 84 points to 13,043. The Nasdaq 100 is down 32 to 3,073. The S&P 500 is rounding out the negative day, off 13 to 1,392.

In the world of penny stocks, the name of the game still seems to be older pumps. Lots of volume and moves, but it seems like traders are waiting for the next big mover. Definitely an arena for day traders cause if you think a traditional buy and hold strategy works in the penny stock world, you are in for one wild ride. [Read more...]