As of 10:50 A.M., EST the markets were holding firm on their previous levels. The DOW reflected up +2.08 points to 18,211.27 with the S&P down -1.34 points to 2,114.14. The NASDAQ is up at the moment by +2.65 points to 4,970.78.
In Asia, the markets were mixed. The Nikkei 225 was down -18.28 points dropping to 18,585.20. The Hang Seng was up +28.21 points to 24,778.28. In Europe the markets remain in the red with the FTSE 100 index is down -28.60 points to 6,921.03. The CAC 40 is down -18.78 points to 4,867.66 currently. The German DAX is down -13.98 points to 11,191.76.
Oil remains the big story slipping yet again down .07 cents at the moment to 49.21/barrel. Oil continues to hang around the crucial $50/barrel level. Many investors feel oil has bottomed out and is now beginning to establish a floor moving upwards from here while others disagree. We’ll keep watching oil as it wrestles with this crucial $50 level. NYMEX Nat. Gas is up .05 cents to 2.96/MMBtu.
While markets remain on highs, investors are loving the precious metals today as the sector is in green. Gold is up $7/oz to 1,207.10 with Silver up .30/oz to 16.58/oz. Platinum is also up 5.40/oz to 1,169.00. Palladium is also up 13.20/oz to $805.70/oz. Metals are currently off of their session highs.
In Penny Stock News, Rich Pharmaceuticals Inc., (OTCBB:RCHA) continues to be a hit on Wall Street attracting much deserved attention. The stock appears to have bottomed out at .0014 in yesterday’s session, traders believe. On February 3, 2015, the stock went for approximately .001 cents a share. The very next day, the stock hit and closed at .015 cents. Calculate that. Following that, we pushed higher to the .017 level on February 5th. Since then, it’s been a steady sell off. Traders have been betting their cash doubling down as this stock continued its plummet into yesterday’s session of mind boggling lows. However, at the .0014 levels, the market witnessed a surge in the volume and what appeared to be loading up began and the market watched RCHA run to .0022, asking but not striking .0023.
At the moment, the stock sits at .0025 showing strong momentum to the upside. Traders are urged to keep in mind this stock is coming off .017 cent levels from merely 12 trading session ago. Since then, the stock has dropped to .0014 resting currently at .002 cents a share. Traders and investors are watching for this one to make a nice pop, making its tag towards its 50 and 100 day Simple Moving Averages (SMA). The 3 and 6 month graph of the stock indicates an RSI of approximately 29 showing this stock has been tortured, oversold, and mutilated by Wall Street. We started to see the upward run yesterday and believe we should continue to see that in today’s session.
The stock traded an amazing 182M shares in yesterday’s session while sitting on a 10-day average of 79M traded per session. A 22-day volume average of 55M per session is displayed by the stock currently. Currently, the stock has traded 52M shares. RHCA has a 52-week range of .0008-.455.
The stock has sucked the attention of much of Wall Street and we expect nothing different at today’s open. We would watch for some nice gains today on this one. Keep in mind this one made a surge initially over 1000% in one session. This is one of Wall Street’s hottest movers and shakers and has the ability to EXPLODE.