Observation on the end of day trading: In each of the last 4 sessions, there has been a substantial increase in volume and price in the last 10 minutes of trading. There is a lull in the trading from noon until about 3 to 3:30, and the stock has closed near its intraday high due to the final push.
I have been looking for weakness in this last 10 minutes as an indicator that the interest is flattening out, but it just isn't happening that way. Much to my amazement, interest continues to drive this stock to intraday highs during this time frame.
Even during eBay's meteoric rise, it has days when it danced sideway, days when it rested, days of profit-taking, along the way. uBid has not only avoided these, but shows huge strength, and better quality buying, at the very end of the day when it is peaking.
Target of $300. Given what the charts show, and what the intraday trading shows, there is no indicaction that this stock is beginning to wane at all. Under the circumstances, a $300 price target is eminently reasonable. In fact, given what's happened, I don't think we'll see this level off until after the week of Janaury 4, when the ML pump will first begin on uBid. I would almost like to see it slow down some so I can catch my breath. This is unnerving. Would have been hard to believe a week ago, but the past week speaks for itself.
SHG |
