Before yesterday's trading day, we noted we'd be trading hour by hour, not a bad idea it seems as what we have is a bunch of yo-yo's day to day..hour to hour. You almost have to make a choice of whether to hold these through the slips or just daytrade the heck out of them. Unfortunately the 5-10% down days make it hard to hold till the next day and the daytrading mode might not be for you to capitalize when they pop in the other direction. We've never been ones to daytrade these stocks, getting in and out of them on a daily basis was not the way we played them to these lofty perches they are sitting on. Simply at this time, this is seemingly what you have to do with the DRYS EXM LDK GRMN FSLR JASO stocks or just hold through the volatile action and take some lumps on off days. On any given day you are getting 5,6,7, 8 pt intraday trading range, with the close either at the low's or highs of that day in most instances. One day they are tepid and lagging the overall mkt and/or red, the next day, they are flying. Also, it is not so easy to say a stock making a NCH will continue on forward the next day. Now, you simply don't know what the stocks we've covered this Q will do the next day. There is only one way to explain the action and that is to understand it as a Q end phenomenon with a lot of hedgies flying in and out of these big winners of the past Q and creating this volatility. Performance anxiety after a horrible July and August for too many of them. Probably started padding the books with this China spec stuff and got the wildfire started. We doubt the timing is a coincidence. So...you have 3 choices really, one is take the lumps the bad days or even intraday moves can throw you...two...is buy and sell the same day ...or three...which is stay out completely to avoid the stresses of it all and await a calmer trading environment. There is no reason to point out plays reaching NCH's Thursday, you're most likely rolling the dice with most DJIM plays into the last trading day of the Q, even with less volatile issues like MR EJ.
Anyways..be careful today as the funky stuff will likely continue...either try get jiggy wit it on an uptrend or just stay out...
AZZ, an original DJIM play is one to possibly trade off today following earnings. $36 premkt.