Small Cap Arena Trades Lower: Priceline Inc, AMR Corp, Medical Marijuana, Inc, China Teletech Holding.
The markets rebounded to close on Wall Street with positive housing data a nice surprise for many investors. The small cap markets however were a sea of red as investors chose to book profits in a volatile day in the OTC markets.
Swingplane Ventures (SWVI) remained one of the top volume leaders in the small cap arena trading over $10 million in trading volume. Shares in SWVI did pull back around 10pcnt after rising 65 pcnt in the previous 2 trading sessions. All eyes again will be on the name ahead of the bell today.
Priceline Inc (PCLN) is indicating a higher open on Wall Street this morning with their Net jumping 28 pcnt in earnings released. PCLNs online booking business and care rental business have been showing their strength and traders in the stock will be rewarded on the open today.
China Teletech Holding (CNCT) pulled back the last 2 sessions by 19 pcnt and. In yesterdays close a further 11pcnt of losses for traders. As we have said it looked like shares of CNCT would be on a slide since they closed higher by 67 pcnt they haven't traded higher on on trading day.
Medical Marijuana (MJNA) After a couple of rebound days for shares of MJNA it was business as. Usual in trading to close Tuesday on Wall Street for the company. Shares were lower by 7 pcnt on a volatile $5 million in trading.
Shares in AMR Corp (AAMRQ) traded lower by 2% after climbing in the previous day’s trading. The company is still trading extremely heavy volume compared to its normal trading average obviously due to the ongoing closing of its merger with US Airways. AAMRQ traded over $20 million today making it once again the largest volume trade in the over the counter market.
It really goes to show that if you do your research there are substantial profits to be made trading over the counter stocks and in the case of AAMRQ even a company in bankruptcy has ended up becoming a positive winner for many traders. Even in the case of SWVI whose shares were cut in half only to rise 65% over the last few days.
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