Also have another island started Friday...
Recently, there's always been a selloff on the days following a run. I've attributed a good portion of this to one insider. My estimatees had him out by end of July on normal volume. Volume's been good. If he did in fact drop off the SEC reporting radar, and has been selling as usual, he should be gone right now. I would think, however, that the price chart may have many traders/investors programmed into the spike behavior, so a selloff in the coming days would seem probable.
On the other hand, the added attention of positive reccs of it being undervalued, and negative reccs of pulling it from a buy list can only focus additional attention on the company, which is good. Their product is solid. The personell also. Think any review of the company will result in positive, market action.
CDA Investnet told me they update Yahoo Insider daily. Well that just went out the window, as I see 600 shares moved by Barton Foster...on 1 June. Should indicate, like most, that numbers for the previous month come in the following month. Anyway, still no institutionals selling.
Not surprisingly, all oscillators have taken a sharp upturn (CCI, RSI, et. al.). I would go so far as to say that they have some more to run tomorrow, before they peter out and whip the price back down. A strong showing and higher close tomorrow would do wonderful things for a reversal to an uptrend; the possibility of which has become ever weaker the last 2-3 weeks.
That said, my money stays in for more run tomorrow; 50DMA & 20expBBands both riding around 2 1/2 which should offer resistance to any close. |
