Several OTC stocks stand out this morning as being ones to watch for possible movement over the short and even long terms. For those inclined to day trading, identifying a hot OTC (penny) stock to work several times throughout the trading day (known as the intraday) at various entry (i.e. buy-in) and exit (sell-off) points can give a leg up in terms of walking away at the end of intraday trading with a nice profit. Minus brokerage commissions, of course. Which stocks are likely to garner attention and, maybe, enough volume to make a day trading program possible? A number come to mind, including one we’ve noted the last week as being very popular among the OTC cognoscenti:
- Andiamo Corporation (OTC: ANDI) continues to be among the most-discussed penny stocks on the OTC markets, and with an average daily trading volume exceeding 13 million shares, there’s plenty of room to work out numerous entry and exit points in its particular market. The stock opens today’s trading session at $0.0041 per share.
Andiamo Corporation (ANDI) continues to thrive over the last 10 days.
- ERHC Energy, Inc. (OTC: ERHE), a Houston, Texas-based independent oil and gas company working on producing energy in the Gulf of Guinea, off the coast of central West Africa, opened today’s session at $0.086 with an almost-immediate entry by investors at $0.090. Though its average trading volume is relatively low at less than 230,000 shares per day, its price per share is high enough to generate nice daily profit for a savvy trader if he or she executes trades at the right time throughout the trading day.
- GoIP Global, Inc. (OTC: GOIG), a developer, producer and marketer of mobile media services, solutions and tools for brands, agenices, Internet content providers, online portals and entertainment and media companies, is a vigorous daily trader. It has an average daily volume, in fact, exceeding 18 million shares per day. It’s also exceedingly inexpensive to buy, opening today’s session at $0.0002 per share. Over 4 million shares traded in GOIG right at today’s market open, which should give one an idea of how many shares move on a trade. There are over 3 billion shares outstanding, meaning shares are plentiful.
The downside to GOIG is also its upside, of course, meaning the low, low share price. It sits in the so-called “triple zero” zone, which is trader shorthand for a stock with a price of at least three zeros to the right of the decimal point preceding an actual digit (in this case 0.0002). Day traders operating in this zone have to be on the ball and ready to buy and sell very quickly (and usually in large blocks) in order to generate a nice profit for the day. Markets like GOIG’s are also susceptible to a fair bit of manipulation on the part of traders, too, so it’s smart to always be fast on one’s feet when trading a “triple zero” stock.
