Hope reigns supreme on the broader market, while a pumped stock was introduced to gravity in a big way way today. The major indices hit a 5-week high as traders continue t hope for Ben Bernanke to ride in and dump QE3 in their laps. Granted the hope may be a bit premature with the Greek saga now entering the rerun stage. The pro-bailout parties won, but the country is still over its head in debt, and the country is poised to run out of cash in July. Sign Up For Free Stock Alerts
While summer is traditionally a slower time for penny stocks, you can’t detect a hint of a volatility slowdown in the otc and otcbb markets. One of the more notorious pumpers saw utter destruction in their pump after it collapsed over 60%, while chat-rooms and message board continued to have fun with a perennial favorite.
Like everything in penny stocks, it pays to be a nimble trader. The outsized rewards definitely come with risks. [Read more...]