Tsunami+Libya Effect to Buy Penny Stocks

It's a good turn for traders in penny stocks because on Friday, government of Libya declares ceasefire after UN resolution (push stocks higher) plus with Tsunami in Japan effect situation in stock markets end with rough week but gain in a slight in Friday. Traders still concern about developments in the Middle East.

Investors would glad with penny stocks were higher with two encouraging news: Libya's cease-fire and the G7's Japanese yen intervention plan.

In Libya, people in western city of Misrata said they faced heavy bombardment on Friday and with the words of U.S. offical said Gaddafi's forces are still advancing to the rebels' eastern stronghold Benghazi. France along with Britain have been leading in plans to enforce a no-fly zone over Libya and they will host a meeting on this Saturday on Libya which will be attended by U.S. Secretary of State Hillary Clinton and Arab leaders.

In Japan, since the earthquake, tsunami and news of damaging of nuclear plants effect the currency of Japan. The strong value of Yen makes exporting difficult and Japan needs to recover its economy for gaining money to help people who want help from the crisis.

More than two stocks rose for every one that fell on the New York Stock Exchange. Consolidated trading volume was 5.3 billion shares.

Dow Jones gained 83.93 points to 11,858.52. S&P up 5.49 to 1,279.21. Nasdaq gained 7.62 to 2,643.67.

Return to talk about buying penny stocks in volume reader of 17th Mar.

Universal Detection Technology (OTCBB:UNDT) is up 5% with almost to a billion shares traded in 17th March. They trade at $0.002 with high of $0.0026.

Allezoe Medical Holdings (OTCBB:ALZM) is down 5% so far today at $1.38. They trade to $1.50 at market open. They are near the top of the list on trades in 17th March with over 2.3 million shares traded.

Federal National Mortgage Association (OTCBB:FNMA) is up 6% in midday trading at $0.4360. They traded over 9 million shares in the first half of trading in 17th Mar.

Shares of Freddie Mac (OTCBB:FMCC) are up 5% at $0.4380 with an intraday high of $0.4490. They are having an above average volume day in 17th Mar with over 7.6 million shares traded.

Jammin Java Corp. (OTCBB:JAMN) is up 9% with over 2 million shares traded so far in 17th Mar. JAMN is currently trading at $1.37 with high of $1.39.

Source: Penny Stock Classroom, Reuters, Yahoo! Finance