Dow Jones Hits New Highs: Could this Be the Classic Bear Trap? Small Cap Stock Focus List: AMR Corp, Green Innovations, Swingplane Ventures, Red Giant Entertainment, MIT Holding
LONDON, March 6, 2013 /PRNewswire/ --
The Dow Jones Industrial average traded to new highs once again in trading on Wall Street this Wednesday. The volume is substantial also so this could continue to trade higher throughout the week. Many analysts are saying this is a consumer confidence lead rally and could be leading into at least a 10% market correction.
AMR Corp continued to trade in a tight range today but shares higher for the third day running by 6.5%. AMR Corp continues to trade heavy volume ahead of the merger with US Airways but certainly has pulled back since trading over $100 million per day. However in trading this morning the company had traded $10 million just in the first 30 minutes which is much heavier than the first two trading days of the week meaning renewed interest in shares of AMR Corp.
Green Innovations was one of the most heavily traded stocks on the OTC markets today with shares trading over $1.3 million in the first hour on the street. Green Innovations was also trading to the upside by 3.5% after shares climbed back above $1.00 in trading to close last week. Green Innovations is currently trading at $1.28 per share and has recently been as high as $3.00.
Swingplane Ventures traded to the upside this morning in continued recovery in the price of its shares, however has pulled back from the opening price. Shares of Swingplane Ventures have dropped from around $1.00 to the current price of 0.29 cents over the last week. The stock is lower this morning by 5% on $1 million traded.
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Red Giant Entertainment was one of the leading stocks in volume last week on the OTC market and showed strong performance in the first couple of trading days before volume dropped off and the shares pulled back. We are seeing a pickup in volume as we go into mid-week trading on the street and shares are higher this morning by 10% approaching $1 million with a long way to go in the day's trading.
Shares in MIT Holding are not trading massive volume but just due to the price appreciation we are seeing in the stock this morning it has pushed the name into volume focus. MIT Holding is higher this morning by 1900% in the first hour on the street with the shares experiencing a gap up and then moving higher on around a quarter million at the mid-morning point.
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