LONDON, April 19, 2013 /PRNewswire/ --
Market futures are indicating a higher open on Wall Street this morning after a night of chaos and gunfire in Watertown, MA. Police were involved in gunfire exchange with the two suspects believed to be involved in the bombings earlier this week that left three people dead. There is bound to be some follow through in the markets and possibly the speculative fear trade being back in play whenever terrorism seems to be involved.
Harbor Island Development traded to close yesterday higher by 5%, after two down days for the stock in a row this could be a turn in the stock that sees a higher trade in the coming week ahead. Harbor Island has had positive news and judging from some of the articles out there this stock is anticipated to go much higher. We sent an email out identifying the increased volume in the stock earlier this week, and shares are higher by 150% since the press release. It is our belief that the volume and price will increase in shares of Harbor Island Corporation as we go into the new trading week and more hype surrounds the stock.
Shares in Goff Corporation have been heavily traded for a number of weeks now and the volume was lighter to close once again yesterday. The volume was less than $2 million which is considerably lower than we have seen recently, however shares were higher on the day by 1.8%. It does seem at this point that any potential trading upside will be tough from this point on in shares of GOFF Corporation.
Overstock.com (NASDAQ: OSTK) was one of the top percentage gainers on the NASDAQ in yesterday's trading on the stock moved to the upside by 35%. The company reported excellent earnings and the street really got behind the name sending shares past the $15.00 mark on very heavy volume for the company. We will see if OSTK can follow through on this performance in trading today or if it would be prudent to wait for a pull-back.
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AMR Corp was once again the heaviest traded stock on the entire OTC market having traded $15 million to close yesterday's session. This volume however was half that of the previous days trading and the stock was also lower, leading us to believe that the speculation may be gone form this trade with the upcoming merger with US Airways seemingly set.
Fannie Mae shares were basically flat on the day in trading to close as we looked at the possibility of the stock surpassing the $1.00 mark once again. 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 around 2 weeks. The stock is currently around the 0.80 cent mark and we will keep an eye on the decreased volume which yesterday was around the $11 million with the stock trading higher by 0.5% on the trading day.
Recently we have seen bankrupt companies like AMR Corp, Eastman Kodak, Fannie Mae, and GOFF Corp deliver profits from distressed levels that have been substantial for our readers, it just goes to show you 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 our free service http://www.clubpennystock.com
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. Remember you can also view the daily Top Five Stocks on our website under archives.
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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