With Easter behind us the market is looking choppy around midday. The IMF released a report saying the Age of America is coming to an end and China will be the dominant economic force. Yeah build ghost cities to prop up your GDP and have most of your population living in abject poverty. Ah the keys to success. We are the reason the IMF still exists and they thank us by saying we are dying. Let me know when China becomes the lender of last resort without strings attached.
In penny stock land LEXG is looking like it is running out of gas. Now may be the time to go the way of Timothy Sykes and short it. Make no mistake this was a pump. No reason you cannot try to make money on the decline. Right now it is down almost 3% on heavy volume. If you are still in this it may be time to play it safe.
Techalt Inc (OTC:TECA) is up huge this morning on rumors of reinstatement. Definitely a risky play for any trader and it may be wise to stay away at this point. Being up 400% and residing on the riskiest tier of otcmarkets isn’t exactly confidence building.
Orofino Gold (OTC:ORFG) jumped over 100% in morning/early afternoon trading today thanks to the one two punch of releasing news and a hototc pump. While off its intra-day high the stock is still trading up with substantial volume. The news released this morning reiterated historical analysis of the company’s mining concessions in Colombia.
Jammin Java (OTCBB: JAMN) continues its slow grind upwards; up almost 3% in early afternoon trading. Its rise can be attributed to last week’s news that its product sold out during Amazon.com’s lightning hour deal (a spacial deal where a limited amount of product goes on sale for an hour). JAMN also recently announced they were going to enter the single serve coffee and tea pod market. Currently that market is around $4 billion annually with strong growth.
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