Markets Trading In A Range Whilst Some Call For Correction - Top Five Stocks Volume Watch: AMR Corp, Echo Automotive, Mediswipe, Swingplane Ventures, Green Innovations Ltd.
LONDON, February 12, 2013 /PRNewswire/ --
The Markets in the US could be walking right into a classic bear trap claim some top hedge fund managers on Wall Street going into the time of the year when we have seen some spectacular corrections in previous years. We all remember March of 2000 and why experts are not predicting another technology bubble there are concerns over current valuations on the street.
AMR Corp was the most heavily traded stock in the OTC market on Monday with $20 million exchanging hands and was fairly flat on the day following reports over the weekend and Monday stating the company is close to closing an $11 billion merger as early as this week.
Swingplane Ventures continued to rise in volume all last week as the stock got up to test the 0.50 cent region in mid-week trading. Swingplane traded over $4 million in Monday's action and moved higher by more than 8% on the trading day.
Shares in Echo Automotive had more than a healthy pull back yesterday with shares down 26% on the day and almost $7 million being traded in one of its heaviest down days over the last few weeks. We have seen shares in the OTC stock climb well over $2.00 over the trading week only to pull back towards the $1.00 region at the start of this trading range.
Green Innovations was one of the big price movers in the markets to kick off the week's trading with the stock trading higher by 19% on over $4.2 million traded. Shares in Green innovations were higher earlier in the session and pulled back later in the trading day.
To round off our report today we looked at shares of Mediswipe whose stock moved over 50% in trading today on a heavier than normal $2.6 million traded. Mediswipe had positive news and trading action surrounding the stock throughout the trading day.
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