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Intra-Day Update on Selected Picks: (PINK:MJNA), (PINK:POOSF), (OTC:ELAY), (PINK:TAGG).

 
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New York, NY -- (SBWIRE) -- 11/16/2012 -- Medical Marijuana Inc. (PINK:MJNA), which operates in the marijuana and industrial hemp markets, is seeing a sharp correction in mid-day trading today. MJNA had rallied in the previous trading session as investors digested the company’s third-quarter results, which showed substantial increase in revenue and income.

However, the stock is seeing a pullback after hitting $0.13 resistance level. MJNA is currently trading 8.24% lower at $0.117 on volume of 7.80 million. Despite posting significant gains in the previous trading sessions, MJNA is headed for a lower finish for the week, mainly due to the sharp decline in the early part of the week.

Find out when a bounce could happen to MJNA by reading the free trend analysis report here: MJNA, Trend analysis report

Poseidon Concepts Corp. (PINK:POOSF) is marginally lower in mid-day trading today after the sell-off in Thursday’s trading session that saw the stock finish more than 62% lower. POOSF is currently down 1.18% to $4.89 on volume of 456,327, which is nearly 3 times the daily average volume of 159,661. The stock hit an all-time low of $4.49 today.

The sell-off in the previous trading session was sparked after the company lowered its outlook. The downward slide in POOSF shares is likely to continue in the next few trading sessions as the MACD histogram is indicating increasing downward momentum.

POOSF is engaged in renting fracturing fluid handling tanks, which are mainly used in well completion operations in the oil and natural gas industry in western Canada and the U.S.

Get all traders need when trading POOSF by reading the free trend analysis report here: POOSF, Trend analysis report

One of the biggest gainer on the OTC market today is eLayaway Inc. (OTC:ELAY), an online payment processor providing layaway services for merchants and consumers. ELAY is currently trading 271.43% higher at $0.0026 on volume of 86.82 million, which is nearly 10 times the daily average volume of 8.70 million.

The rally in ELAY shares has been sparked by the release of 2012 Online Layaway Retail Trends report. The report was released on Thursday.

The sharp rise in ELAY today has been accompanied by significant volume, which is a bullish signal. The stock has fallen sharply in the previous trading session after trading sideways for a week. However, the sharp rise today has established a strong bullish trend.

Find out if the bullish momentum could continue in the very short term by reading the free trend analysis report here: ELAY, Trend analysis report

TagLikeMe Corp. (PINK:TAGG), a provider of Internet cloud-based software application related to online search and social media, is down sharply in mid-day trading today. At last check, TAGG was trading 5.19% lower at $0.0730 on volume of 3.83 million, which is significantly below the daily average volume of 52.15 million.

TAGG has had a disappointing week, falling more than 19%. However, the bearish trend may be coming to an end. The stock posted gains in the previous three trading sessions, while the drop today has been accompanied by very low volume.

Last week, TAGG had announced that it saw a significant increase in unique new user count in October.

Fd out more about TAGG by reading the free trend analysis report here: TAGG, Trend analysis report

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