Status Update on IPII trade
premarket is up on this ~ $18.80 and having trade in the 19's - my thinking is to let's see if this can run to the $21 area within the next week since - $21.98 is the 50 day moving average - if it crosses $20, put in a stop.
from brieffing.com courtesy of Yahooligan
... Imperial Industries (IP.II 16.81) is a name that the fast money is familiar with and is currently bid up $1.70 pts to $18.50 as a hurricane play. IPII engages in the manufacture and distribution of building materials to building materials dealers and others located primarily in Florida, Mississippi, Georgia, Alabama... Float is about 2 mln shares with approx. 45% of that sold short...." for more go to this link
messages.yahoo.com
New Trade Alert and TSCM Follow-up
New trade for IP.II today - purchased ~ 16.80. This one was id by my proprietary model, which also id Ckcm two days ago, but I did not act b/c I got too greedy and was hoping for a move to the $16s. I acted quickly on IP.II after she broke $17 for several reasons. First, there has been a lot of blood recently. Second, looooow float. Third, hurricanes or no hurricanes, having spent a significant amoutn of time in Fla, there is no doubt that they have all the business they can handle. Fourth, IBD wrote up the stock on August 10th,
biz.yahoo.com
Investor's Business Daily
Stormy Weather Equals High Demand For Building Supplies Firm
Wednesday August 10, 7:00 pm ET
Alan R. Elliott |
