Sefe Incorporated (OTC:SEFE) is a shorter’s paradise today. After running up well past the $2 per share mark, notorious penny stock shorter Timothy Sykes jumped into the fray blasting away at the promoted stock. The stock was rumored to be the next LEXG style play but it looks like it has fizzled before it could reach the ridiculous mark set by LEXG last year.

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What traders should take away from plays like these is that you have to be in on the start of these plays. After it is has run up for days and days, the likelihood of a continued run diminishes exponentially as the days go by. Playing SEFE stock is a gamble and one that should only be undertaken by risk tolerant traders. Don’t look for the moon shot, they are few and far between. If you make money, move on. And cut losses as quickly as possible.

The broader market is enjoying a nice rally today on the back of earnings and solid housing data. Pending home sales hit a 23-month high and could be sign we are finally seeing a turnaround in the housing market. Or it could just be a green-shoot suckering investors in. Earnings that are still on deck include Amazon which will be watched closely to see how the kindle fire is faring against the juggernaut of Apple’s iPad. [Read more...]