It has a high chance of closing the gap since this is a late stage breakout in a market correction. I merely posted stock as a short term buy candidate. Whether it makes a good short term trade remains to be seen. This is a difficult market to find good setups. The days of the easy stock trades are long gone. I would say grab CALM if it dips down to low 32. It should bounce back up nicely once it retraces down to that level. The volume on CALM was strong yesterday but, the institutions abandoned this stock back in late January 2007. This move is being orchestrated by traders and individual investors so it is not as solid as I would like.
You think CALM will close that gap? I don't have a very good volume indicator. It's not too intraday friendly.
ReplyDelete-Chad.
Chad,
ReplyDeleteIt has a high chance of closing the gap since this is a late stage breakout in a market correction. I merely posted stock as a short term buy candidate. Whether it makes a good short term trade remains to be seen. This is a difficult market to find good setups. The days of the easy stock trades are long gone. I would say grab CALM if it dips down to low 32. It should bounce back up nicely once it retraces down to that level. The volume on CALM was strong yesterday but, the institutions abandoned this stock back in late January 2007. This move is being orchestrated by traders and individual investors so it is not as solid as I would like.