With the broader market focused in on Europe, the penny stock market is dialed into the pumps that were. The two once high flying pumps of Sunpeaks Ventures Inc (OTC:SNPK) and Sefe Incorporated (OTC:SEFE) have fallen back to earth after the pumps finally ran out of steam over the past few days.
Pumps like this always bring up the tale of the bagholders. If you glance at charts of either of the companies you can see the dramatic run ups, followed by the slow down and then the inevitable collapse. If you play the penny stock market, you have to be highly risk tolerant. And you have to recognize the fact they hey you missed one. No reason the chase it to the stratosphere. These stocks are heavily promoted and when that engine runs out of gas, well you see the end result. [Read more...]