IAAC $24.5, GROW $24.85 entry
Thursday, August 31, 2006 at 04:24PM
Jon in ALY, BGC, BTJ, CTCM, FTEK, GRB, GROW, IAAC, ICLR, IPSU, amie, cetv
It just doesn't feel like it's the last trading day of this summer.
IAAC (24.50) -believe it or not, we started playing this one exactly three months ago. Kudos to Demi, we started following it on another msg board since $12 and it's really been an on and off affair for us. Thanks to GROW, this one is catching on some heat lately and it just took out the old high with very good volume. Imo, this one has better growth compare to GROW and it also has good IBD exposure. The reason why I mention IBD in about every paragraph I write is that about all of our past big winners would eventually turn up on the IBD100 list. The recent surge in volume tells me that interest is picking up and momentum is building up. Right now, it's no where near the climatic volume phase and so I'm not worried about a blowoff top anytime soon. In fact, GROW is starting to set up nicely also which leads me to believe that this sector might be in play.
If you have a screen with the DJIM stocks only...it definitely feels like a different market!..This is where all the fun was today..AMIE's move, CETV moving to $62 thru recent top, CTCM, ALY trying to test our DJIM highs before pulling back. FTEK, GRB, NEU all looking healthy. We talked of another entry on BTJ..well today was textbook 9ema. Also nice bounce in WBD....and finally IAAC gave a late day push, opportunity to buy into a New Closing High(NCH).
Charts updated at close :ALY, AMIE, BGC, BTJ, CETV, CTCM, FTEK, GRB, ICLR, IPSU, NEU, PWEI, UIC, WBD (use naviagation link to Charts by BT to access)
IAAC - TOP mover IBD 'stock on the move'
GROW- (24.85) mentioned above moving in as a secondary play on IAAC move
Article originally appeared on Your Personal Trader (http://www.yourpersonaltrader.com/).
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