Nearly 3 times normal volume and the stock holds within 5/8ths of this weeks high close on a cash out friday with options. I do not call that weakness.
Now let's see....If I bought on monday and have a 17% gain so far this week, should I sell and protect the gain, or hold for more?
That volume came from that decision making by many investors. As for me, I stayed and did not sell. But given that many probably did take profits, holding at 5/8ths down means that the profit taking did not hurt the stock a lot, and many others bought in.
(Gary Korn, can you pull trades over 10k or 50k so we can see if there were block trades on the buy or sell side?).
Oh, and if you bought on tuesday morning you could have swung a gain of 32.5% if you hit it just right. That's in less than a week! Most normal people would be recognizing the gain. I personally would like to see NN get to the ASND level of $48 or $55.
So, as a long, I don't call this weakness, I call it healthy market price growth.
IMHO, (-8 Dennis 8-) |
