and this week will be in the history book. So far, so good! We aren't suprised by any of the action today but we are alittle surprised by the actual trading liquidity out there. Today can definitely be passed as a non holiday, in terms of volume. Does that mean most traders are done with their time off, perhaps! Or, maybe many of them never even left their trading turret. lol So, we basically had another round of good action today and helped mainly by the technology stocks. When the technology sector shines, just about everything else shines too and also every one is in a good mood. We are quite busy with trades today especially after the lunch hour. We expect the same kind of enthusiasm would return tomorrow to cap this trading week off as a very memorable one.
Some stocks in action today....
DDUP, this is a recent techonolgy IPO that specializes in data storage. Ok, this is about as much fundamental info we are gonna be concerned with at this point. The stock basically held the $23 mark very well since the IPO day and today's basically the first day it closed well since its IPO day. Everything fits the scenario well for this one. This is in tech sector and it's a recent IPO and sector is rallying and chart is good yadi yada. So, we started a position near the high $23 and we'd be looking for follow through. If the follow through comes, we'd be adding/trading it aggressively.
PENX, last Friday, we mentioned that we didn't want to miss another RCCC or LPHI type of move. Well, it looks like this one is more or less getting to become one of those moves. Fortunately, we didn't miss a beat on its move so far. Stock made a new high today on decent volume. How high will it go? There's really no need to ask that question now, is there? lol
BTJ, there's a reason why we only write about those stocks that did well. Imagine if you are flat beginning your day, which stocks would you actually go after? We'd only stick to those stocks that are green and hopefully strong till the end. This one fits into that strong stock description perfectly. We aren't buying and holding this one, as you'd imagine. We are basically using its momentum to flip in and out constantly and if you have the time or will to trade this type of stocks, then this one is for you.
LOCM, finally some people may wonder why we alerted on this one late during the day. Basically, it's a trading opportunity and to us we are compelled to alert our members. First of all, this one is not about earning and all about speculation. We aren't looking at anything beyond its action toward the second half of the day. In our opinion, the kind of late action this one was showing warrants a potential gap up the next morning. This is strictly from our experience and of course nothing is for certain. Still, we had to trade according to what's more probable to us. This one is definitely a trader only play and we'll see what the morning action brings out.