Prosper, TX -- (ReleaseWire) -- 07/30/2009 -- Looks like traders on Wall Street didn't get the memo. We are in a summer trading session but that hasn't slowed the U.S. stock market at all. Somewhat mixed economic data had the markets trading in place earlier in the week, but today’s slightly better than expected jobless data along with strong trading overseas last night has the bulls taking charge again and the S&P 500 heading towards 1000, a key psychological level for investors.
Some normalcy has come into the markets as certain big names are starting to trade according to news and earnings not just short covering. Stocks that have lagged the run up are starting to move up with the strength of the major indexes. The NASDAQ is also approaching a psychological mark with 2000 in its sights.
Equities continue to be slightly overbought with earnings reports from major names starting to slow for the second quarter. What will be the driver for stocks after earnings, and can the furious rally of 2009 continue without a major correction?
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Stocks we’re watching for Thursday, July 30, 2009 include:
Everock Inc. (OTC: EVRN) Is up as much as 120%” announced it has forged a national distribution agreement for its Nature's Peak product line with St. Augustine, Florida based national specialty food distributor Tree of Life, Inc.
EcoSystems Corp. (OTCBB: ESYM) Is up as much as 62.5%.”Announced its execution of agreements for the sale of EcoSystem preferred stock and warrants to purchase common stock to five investment funds for $76 million.
Applied DNA Sciences Inc. (OTCBB: APDN) Is up as much as 38.73%. “Announced that it has joined forces with Banknote Watch, a stellar group of companies, government and police, fighting the ongoing battle against cash-in-transit (CIT) crimes. The deterrent value of its SigNature DNA marks in dissuading criminals from stealing cash boxes helps the CIT companies to lower costs and minimize risk to their personnel.”
NavStar Technologies Inc New. (OTC: NVSR) Up as much as 30% in Thursday trading, “announced the signing of a LOI to provide sales and distribution of NavStar Technologies' product lineup for the US market.”
Article contributions courtesy of http://www.premarketdata.com.
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