April 28th 2009
Today in the Stock Market
| Dear Fellow Trader, Monday brought with it a great surprise in the GAP UP of GNBT, who would have guessed this one. Knowing it was going up was easy, but that it would gap up almost double it’s price, that was suprising, i guess that the Swine Flu had something to do with it.. So we are up 117% at $0.61 and it traded to $0.70 after-market. I hope you sold at least 1/2 to take some profit. I still hold a 1/3… The Market The 3 general index had an isnside day, i.e. the trading happened within friday’s range. SO this means low volatility and normally when you have low volatility, powerful moves follow after, now we need to see if it will be up or down. Because everybody thinks it will be up, i would have a tendency to see a move up and the chart supports that as well.
The SP500 is showing almost the same thing.
The Emergency Swine Flu pick of yesterday did well but without us….it gapped up too much for me…I wish i would have been quicker last friday, the entry and chart were perfect, as if somebody knew about this Swine Flu coming.. For educational porpose, look at the tight range just before friday’s push, low volatility after wider range will bring expansion again….
CDE stayed within it’s range and stayed very tight all day, so i would expect this stock to resume it’s move up in the next few days.
I will repeat this, because i am sure people might not see this but there is definitely someone buying this around 0,035 because i try to and i only get small lots. This is very bullish for me, i expect this PGYC to explode when it resume, just think about GNBT’s action and CTIC, similar pattern of accumulation and these are the one i really like…
PGYC Weekly chart show something also very interesting, the ride down from around 0,228 to the lows was done on very low volume and like any chartist would see, this stock can go back up to the 0,20 level quite easily and if it pushes through it, watch out…
Here is more information about why GNBT was a good buy and an intelligent trade. The 0,25$ support i was seeing from bigger investors/traders is what provided a floor and i accumulated with them….yesterday was the payday ! You only need 1 or 2 a month of these, but it seems we are getting more these days….The worst part is i think this move will continue a bit…
Let this one comeback to proper levels….
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| Featured HOT Stock Look for these airlines, as they will create opportunities once the Swine Flu is about to be over….but not yet. 
CYOU is a recent SPIN-OFF of SOHU i think and if it could push through the 30$ on volume it could fly….but let’s it consolidate for now…
It wants to go, but was not able to make it ….we need to watch this …
Have a great Trading week ! |
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