Friday, July 08, 2011

Imminent Correction or Just a Brief Pause

Regardless, it looks like today's dip is on low volume. It would be interesting to see if we could get a high volume reversal or bounce at this level. Despite the overall negativity with the job report, there are several stocks displaying strength

Tough Stocks: ADLR, ANX, GENE, JVA, LNKD, PCYC, SODA, XPO

Day Trades: CRVP (based off JVA momentum)

Long Term Trades: LNKD (high short interest/low float/popular)

Interesting Stocks: JVA (low float, abnormal vol and price action/hot sector), SODA (high short interest/low float/"in" product)
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4 comments:

  1. vhdupati5:04 PM

    Hey Nick,

    What do you think is up with GENE?
    Any information?
    The chart looked great to me before the halt.

    Thanks

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  2. Nick M.11:39 PM

    hey vh,

    I wish I knew. There is a lot of speculation regarding the halt. I've heard that it may be a buyout or share dilution via capital raise. In any case, find it bizarre that it has been halted for so many days. I heard that it may begin to resume trading again either on Wednesday or Thursday. I actually had bought a small position in it so I am anxious to see what happens.

    ReplyDelete
  3. vhdupati11:00 AM

    I guess the news was bad...30% down...

    But I still think GENE will be a success...

    Any thoughts?

    ReplyDelete
  4. Nick M.6:27 AM

    it is possible that it can be successful, but what is the point in holding a stock that can be halted at any moment? Even worse, how can the stock itself ever be successful when the company's own management can halt it at any time for 2 weeks? Its a lose-lose situation.

    For me it was an unfortunate loss and one that doesn't even seem fair at that. I would have to think twice about buying that stock again.

    ReplyDelete