Stocks hemmed and hawed their way to a red day after showing a small pop at the gate. Upbeat housing data was not enough to stave off yet another disheartening report on manufacturing. Factor in ongoing concerns about sovereign debt from across the pond and the bears seized the opportunity to pull the market lower. Although yesterdays lows held on the S&P500, they did not on the Russell 2000. We cannot emphasize enough that we feel the Russell will lead the overall markets as it has been doing the last two years. If today’s action is any indication, look for the broader markets to soon follow suit in putting in breaking below this months lows.
Sify Technologies (SIFY) was the big winner today as the stock moved from a $4.50 close yesterday to over $6 today at its high. News that the company and Deutsche Telekom signed a partnewship to deliver IP and virtual private network services globally sent the stock soaring, and as usual stockhaven members were all over it. REDF, a company in the same sector as SIFY benefited from the news as well, moving 10% at its high. FCSC also broke out to a new 52 week high and the chart is bullish moving forward. Other big boards that made notable moves were SQNS, CKSW, CIGX, PZG, & ORS. Penny stocks that were on the move were, VLCO, GTGP, LYJN, BORK, & BNPD.
VLCO alerted in chat around .03 which rallied to a high of .062, putting over 100% in potential profits in our members pockets!
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