If It Does Not Sell Off…
It is a simple assertion, but if stocks don’t go down, they are probably
going up. This is often particularly true when it happens on bad news.
09:38:01
Big Movers Out of the Gate
Gainers: Affymetrix (AFFX)
up 1.67 and Pacific Healthcare Systems (PHSY)
up 1.02.
Losers:
Cabot Microelectronics (CCMP)
down 10.65, Digene Corp. (DIGE)
down 8.18, CYTYC Corp. (CYTC)
down 7.31 and Tyco International (TYC)
down 3.30.
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Cabot Microelectronics
(
CCMP |
Quote |
Chart |
News |
PowerRating) released the news that it would
miss this quarter’s earnings estimates before the opening bell, then promptly
gaps down on the opening print.
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When the stock starts to rise on massive volume, the buying
pressure is showing itself.
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Aggressive traders with a tight stop can get in as the stock
rises nearly 6 points from the bottom. More cautious traders are still able to
capture a good part of the move out of a short pullback. Learn to listen to what
a stock is telling you and you will find yourself on the right side of trades
more often.
Until tomorrow,
Duke