This has been a difficult market for me, so I am assuming it has been just as if not more difficult for other traders. Still, we have had our small victories sprinkled amid the carnage. But today, in addition to the rally, there was another sign of hope that things may be turning around.
With a little less then 2 hours left in the trading day, I received a Buy signal on CVP, then trading at $10.84. By the close of regular trading, CVP had hit as high as $12.00.
This is a significant move for two reasons. First, it was a move of about 11% in less then two hours. More importantly (yes, more important then 11% in two hours!) it marked a return to day-trading signals playing out in the manner to which they should. CVP is not stock on the everyone's trading list, in fact, it was until this signal, virtually invisible. The pop played out as it was supposed to, price, volume, pop, and strong close, as close to perfect as I have come to expect from these plays and a far cry from the struggles of the past few weeks and months.
One successful day trade does not an "all clear" make, not in and of itself. But if things are indeed turning back to normal, we are going to have a great few months ahead.
I'm looking for DEPO to gap-up tomorrow (subject to pre-market news, from Citibank in particular). If it does, it will be another step on the path to normalcy, which for my trading is short and sweet pops in selected stocks throughout the trading day.
No change in positive opinion on our recent longer-term selections, NTRZ, ACTC, FRG, ARWR and AGEN.
A
6 comments:
Allan,
Yes the market has gone crazy on us and today was the first "normal" day in a while. I am going to continue to hope for an uptrend....
Dave
Alla:
Turn and make a CHANGE...
Mark in Sandy Utah
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Allan,
Did Sally issue an alert for ZLC on the 4th or 7th? I did not subscibe until the 7th. Just curious, because that puppy went from the low 13s to a high of 16 over a couple of days. Now it's back down to 13.08 with a CEO, CFO and a couple of other officers buying today. Purchased and posted on the same day. The purchase ammounts are not that great but do you think it will pop again?
On DEPO there was some extended market volume today.
Dennis in Atlanta
In my opinion tomorrows news will be rehash of the bank delima and no new news will be revealed also a another sign in the right direction.
I'm keeping my eye on GGR :)
Singlengle
Alan,
Thanks for your opinions !
Looks like every officer of Ruby Tuesdays bought a total of 381K shares for $2.3 mil.
Think that one will pop tomorrow?
Dennis in Atlanta
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