A Sea Of Red

Today's penny stock market performed far worse than the drastic sell-off that befell almost every NYSE and NASDAQ stock. Essentially, if you placed a trade on a penny stock this morning there was a good chance at the end of the day you were down a fairly large sum of money.

To put it into perspective, of the top 15 money volume stocks trading under a penny today, only two closed in the green, and of those two one was up only 4% (BEHL) and the other rallied at the end of the day on a press release (NWTT) otherwise it would have closed in the red. SBRH, the top sub $.01 money stock was down over 50%. QASP was down 15%, BYSD was down 56%, SSWC was down 26%, the list goes on.

I know if I reopened my comments section to anonymous posters I'd have more than a few messages stating how bad the stocks I write about performed today, on one of the worst trading days in recent memory. Just to remind you, I do not control the markets, as much as some of you would like to think. Just as I can not control company dilution, I can not halt a global equity sell-off.

I think today offered some great buying opportunities and hopefully we can regain our footing into the holiday weekend.