PennyTrader Midday Report for September 8, 2010 OTOW, VKNG, TIVU
PennyTrader Midday Report for September 8, 2010 OTOW, VKNG, TIVU Stocks have improved further off the open, with the major averages currently trading just off their highs of the session. Today`s bounce has recouped a good portion of yesterday`s losses, which came on light volume. Considering the trend of low-volume Mondays we`ve recently seen, it will be interesting to see how volume shapes up today and over the remainder of the week.
Both the yen and the euro have improved further vs. the dollar, helping the bid in stocks and some commodities. The CBOE Volatility Index (VIX) has declined a bit on today`s equity gains, falling -2.7% to 23.17. Despite today`s pullback, after yesterday`s rise the VIX remains well above the multi-month low of 21.21 set ahead of the 3-day weekend. However, this should not be alarming, as volatility tends to decline ahead of holiday periods as the opportunity for variance in prices is reduced amid the closure.
OTOW – Trade Alert Up 40% in morning trading to $.0021 with 15M shares traded O2 Secure Wireless is a Company that is currently developing numerous wireless tower facilities in the US. O2 Secure Wireless, Inc. (Pink Sheets:OTOW) today announced that its Board of Directors authorized a stock repurchase program under which up to fifty million shares of its outstanding common stock may be acquired in the open market over the next six months at the discretion of management.
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