GREY:SXRZF - Post by User
Comment by
tillbillyon Feb 08, 2011 12:32pm
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Post# 18094620
RE: Hit Refresh and up 20+ cents!
RE: Hit Refresh and up 20+ cents!Re-tracement. When a stock jumps Gaps on the way up it most often drops back to the Gap and then some.
I was on the beach and did not watch the big sell-off yesterday but I'm guessing it missed some Gaps on the way down and re-traced on the way up quickly. I added this morning...but i do not think UUU is out of the woods yet. A large run-up like the longs have enjoyed on this one is bound to be met with position adjustment sell-offs.
Obviously I still like the upside, and will add under 6.40, but 7.00 has to be a huge headwind.
This stock traded tons from 3.10 to 3.50 while the vote with ARMZ was all the chatter. Most guys sell 1/2 on a double....
Can't fault prudence or discipline...but this climb to under 7 and drop to 6.30ish could last for a full 1/4. (I hope).
IMO.