Fannie Mae and Freddie Mac Back In Play As Shares Move Toward Key Levels Ahead Of The Open - Small Cap Stock Focus: GOFF Corporation, AMR Corporation, BGC Partners, Research In Motion
LONDON, April 3, 2013 /PRNewswire/ --
Shares of Fannie Mae and Freddie Mac have been extremely volatile but look like they could be ready to continue that run ahead of the open today on Wall Street. The stocks closed higher by 13% to close Tuesday's session on a heavily traded $88 million. The volume was so heavy that we believe there will be a good chance of follow through today in the name. We will stay with Fannie Mae to update you on news and any movements, remember AMR Corp traded back down to $1.00 before bouncing back to $4.00 over a relatively short period of time. Stocks trading this low tend to over-shoot on the upside as well as the downside. Remember we first started covering Fannie Mae at 0.30 cents before it went to $1.50, on the second time around we have been covering since 0.50 cents and has moved almost 100% in a week.
Goff Corporation closed Tuesday's trading session slightly lower on the day after trading higher earlier in the session. Shares of Goff Corporation hit a new intra-day high for the company of 0.57 cents before closing at 0.51 cents in what has been a steady two weeks of mainly upside trading for the mineral exploration company. Shares in Goff Corporation have now moved from 0.12 cents to the current price of 0.51 just since the middle of March giving out potential gains of over 400%. We will continue to follow the stock throughout the week to see if it can build from here. It does appear that volume has picked up after an initial drop off mid last week; in fact the company traded well over the $13 million mark ahead of today's open.
AMR Corp is another example of a stock people had given up hope on and we have been covering for 3 months now. During that time shares of AMR Corp have risen as much as 700% from top to bottom and it just goes to show you that recently with names like AMR Corp, Eastman Kodak, Fannie Mae, and Freddie Mac that there are plenty of profits to made by trading the OTC market if you are a prudent investor, or you're a member of http://www.clubpennystock.com. Shares of AMR Corp moved lower by 8% to close below $4.00 for the first time in a couple of weeks and it does look like the volatile part of this trade is now over.
BGC Partners (NASDAQ: BGCP) was our price performance leader in the markets to close yesterday after rising 48% on the NASDAQ on a heavily traded day for the stock where the company announced a restructuring plan. This may be an opportunity to trade on a stock which is still down well over 25% from recent highs and could still push higher even after yesterday's solid move.
Research In Motion (NASDAQ: BBRY) continued to be one of the most active stocks on the NASDAQ with much speculation surrounding the company, the launch of its new phone, and time to see some numbers from the firm. We may see the stock trade in a range for the next few weeks after being extremely volatile but with good trading opportunities recently.
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Applied DNA Sciences was back in play on the volume focus list after its day on Monday back trading heavier volume than normal. Shares of Applied DNA Sciences closed higher by 3% on over $3 million traded. The stock traded higher in the morning session but shares pulled back to close the day.
Shares of Research in Motion (NASDAQ: BBRY) were the heaviest traded on the entire NASDAQ in Mondays session with the launch of the new Z10 and in addition the company swinging to a surprise profit in the last quarter. Some analysts have price targets as high as $70.00 per share on the Canadian handset maker which is a substantial move from $15.00 if the stock continues to perform.
Regardless of what's going on in the mainstream we will always keep you updated and look to be value added. We hope you have enjoyed our coverage; we will be back to you tomorrow with our daily look at the small cap markets.
We track the volume and keep in touch with any increasing trends to the upside or downside. We also cover the top stocks on the OTCQB, OTCQX, and the Pink Sheet markets.
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