Excuse me, the trade show starts Monday, not Firday as I previous posted.
Looking at the action in BORL, CNTR and IMGX for Friday I have come up with the following conclusions.
Both BORL and CNTR had unusually high volume and had breakouts earlier in the week and earlier this month.
BORL: Friday the 19th.
Volume: 396,900
30-Day Avg. Volume: 525,000
The action fell off on BORL on the last day before the potential Oracle announcement. Well below average shares traded.
CNTR: Friday the 19th.
Volume: 287,000
30-Day Avg. Volume: 368,000
The same story for CNTR.
Then we look at IMGX on the 19th.
Volume: 1,179,600
30-Day Avg. Volume: 150,000
and on Thursday the volume was 715,000 with all of it coming in the last hour. Way above average.
To me it looks like the market is voting on IMGX being picked by Oracle. At least that is what I read on Thursday and Friday. We will see if Oracle actually announces anything on Monday. Green 6 says he had a tid bit that Jim Leto is headed to the West Coast for Monday. That might just be a rumor, but it might be true also.
What does this all mean? Absolutely nothing except for a bunch of investors making rumors and wishful thinking. We will see if Monday brings anything with it.
Jay |
