Holiday Trading....
Wednesday, December 27, 2006 at 09:52PM A few things traders know about holiday trading are that volume can be low, trading can be thin, and stocks can be pushed around without too much effort. Still, we still feel that it's our responsibility to spot those trading opportunities and especially those with a clear setup. Since we are not big enough to push around any stocks, the only thing we can do is to spot signs of an early push and get in before the mass discovers them. Here are some notable ones for today...
FSYS, you kind of get a feel of "it's just a matter of time" before it gets pushed higher. We reviewed the breakout last week, the similarities to Novembers push from a range and alerted everyone today about the follow through early..just at over $21. What a follow through it did and it came off super strong volume. This one is looking more and more interesting to us and the highs are near.
GROW, momentum just won't die in this one. Did people think that this one will follow IAAC's steps? Maybe eventually! But as of the close tonight, it's ready to challenge its old high and beyond. We've hit the last 2 rushes, hope this is number 3.
Last night we said we were looking for follow through on the Chinese and Russian stocks. In DJIM land, the Russian telcos are GLDN ROS MBT VIP. The latter two started this run, the other two have taken over the run. GLDN ROS both here at $38, now sit nicely at 46-47 levels, each up over 20% since put on DJIM. The big boys reversed big time, especially MBT which just closed off a NCH. The downtrend was broken early on today for VIP/MBT.
The Asia-Pacific DJIM stocks have been MR, EDU, HMIN and JST. We've had enough runs with MR/EDU for the time being but that could change tomorrow..lol...We just think it is HMIN that still needs some discovering and might have further to go in the short term. We also like its chart best.
To really feel the holiday trading...we are trading ALXA(10.83), HLYS(32.35), EFUT(37's) more on the speculative side of the books. Of course, the EFUT rumor is probably just the usual holiday games being played...but still a break of the downtrend can possibly create some more points to the upside in EFUT and HLYS...just look at MBT today. Keep an eye out for recent DJIM names like ABM, OEH, POWL that are approaching recent highs intraday.. here and there. We just had GLDN tack on a couple of points and the FSYS pop off what are alerts approaching important highs.