Risky Assets, Penny Stocks & Dogecoin Take Off On April 16th
Traders continue seeking the ultimate alpha in the stock market. Today was a clear example in light of breakouts from cryptocurrencies like Dogecoin as well as penny stocks. Why? The simplest reason is traders are looking for more volatile, higher-risk trades to make quick money from.
While the broader markets have clearly stair-stepped higher this month, the volume has come into question. In fact, the last 8 trading days have seen considerably lower levels of liquidity for indexes like the S&P and its corresponding ETF, SPY. The Nasdaq ETF (NASDAQ: QQQ) has also mirrored this lower-volume trend.