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I saw a late rally in two stocks I'm holding, today - BORL and CREE. What do both of these stocks have in common? They have been acting strong in thelast two down day, especially in the face of today's carnage. Is there any breaking news coming out from the conference? Normally, people who bought for the conference could have been selling today and tomorrow as per buy on rumors, sell on news. But the proximity of the earnings and the subsequent decline may have made people waiting to buy the stock, ahead of the conference wait and see how low it could get. When it refused to go any lower, they jumped in. So, the rally may be just technical (maybe Sam's triangles do work after all - he did call the rallies correctly but not the falls, they may be good for one direction but not as good for the other). Anyhow, we will see what comes out of the conference. In the meantime, let us hope this move will continue tomorrow and it looks like it will. Go BORL... Ghassan, |
