In spite of all the morbid news about the state of the markets we are seeing positive moves in the stock markets every day. Just because the DOW or the S&P 500 aren't up doesn't mean there weren't opportunities to make money today and I'm not just talking about shorting. With no further adieu here is my morning recap of the penny stock market in particular.
This morning we saw $AKER bring in another 40mil in trading volume by 11:15a EST. If you were watching you could have caught the morning dip to .39 cents at 9:35 and sold ten minutes later at .54 cents for a gain of .15 cents per share. That's a 38% gain in less than 15 minutes! If you were still holding this stock at 11:30 you could have gotten out for a .09 cent per share gain or a little over 23%. The shippers chimed in today with $TOPS reaching 42mil trading volume by 11:30 solidifying it as the top gainer I have seen today holding up above a 50% gain. It closed Friday around .20 cents and rose to almost .35 cents a share less than five minutes after the market open today. If this stock can bring in good trading volume in power hour we could be looking at a another great swing trade tonight as well. $CHCI bounced off of multi month support/ resistance at around $1.26 which brought in big hype causing the stock to break up through both the 50 day and 200 day moving averages all the way up to $2.10 a share momentarily. This stock is still currently holding up above $1.50 after 12pm EST which would be almost a 20% gain from the market open. Even with today's positive volume i wont be touching this play looking at where the indicators are sitting on the chart.
Just as a reminder the information i am providing is my opinion and should be taken at face value. None of what I share with you should be considered investment advice, these are simply my day to day observations. If you happen to be interested in any of the stocks I talk about on here please do your own research first and make the right investment decision for your current situation. Thank you and i hope you enjoyed this morning's recap!!