4 Penny Stocks Heating Up Late Friday Afternoon
Monday marks the start of the final trading week in January & weâre sure to see plenty of penny stocks on the watch list. I get that the weekends can be a boring time for many traders, especially if youâre new. Because so many of these cheap stocks have exploded this month, anticipation for whatâs next is high, for sure. I think one of the glaring indicators suggesting big momentum in small-caps recently has been the Russell 2000 Small-Cap ETF (IWM).
Take a look at Fridayâs session. We saw the S&P ETF (SPY) and the Invesco NASDAQ ETF (QQQ) both make attempts at rebounding from lows. While they did, in fact, bounce from intra-day lows, neither experienced the rally that the IWM did. Breaking it down to the numbers, the SPY closed 0.27% above its low, the QQQ closed 0.21% higher, but the IWM managed a rebound of 2.6% after hitting its low of $209.54 Friday morning.