This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Here is one that flew under everyone’s radar - U.S. Global Investors, Inc (Nasdaq: GROW) !
I even told everyone about this when I added it to my bookmarks. The story is that there are certain groups of Hedge Funds ganging up on GROW by shorting it. Everything was centred around this crucial shareholder vote to approve a 2-for-1 stock split. Well, it looks like the shareholders approved the stock split today, so Hedge Funds did not succeed in their shorting tactic.
Unfortunately, even I missed out on this feeding at the trough, since I took the afternoon off.
However, if my theory is correct (see my previous post on the Wi-Lan trade post-mortem), there should be some follow thru buying tomorrow. Which means a possible play for tomorrow.
| Stocks Mentioned In This Article | |
|---|---|
| Stock | Links |
| GROW |  |  |  |
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
February 21st, 2007 at 6:55 pm
I thought that was a daily chart, but that was intraday! I also missed your initial mention of this Hedge Fund short deal. Where was I? Probably slumming in the pink sheets…
February 21st, 2007 at 7:26 pm
I highlighted GROW last night as a potential squeeze off the lower band. I think it was a decent play but they released news of a split intraday that really pushed it higher. I got kinda lucky on it to be honest.
DT
February 21st, 2007 at 7:36 pm
@Prospectus: I never really made a post about GROW, all I did was bookmark it on my del.icio.us.
@downtowntrader: Congrats on your GROW trade! GROW was hard to catch, as it gave no hints and barely any patterns.
February 21st, 2007 at 7:45 pm
Pro,
Weren’t you in the chat today or did you fall asleep,ha
(Feb 21-11:56) Muddy: GROW 41
(Feb 21-14:39) Muddy: GROW again
Feb 21-14:40) Muddy: 42 now
(Feb 21-14:42) Muddy: 43
(Feb 21-14:43) TraderJJ: wow
(Feb 21-14:43) bs: quick buck!
(Feb 21-15:23) Muddy: GROW 44
February 21st, 2007 at 8:43 pm
@Muddy: I wasn’t asleep, I was busy losing money in T XRH! :) Trying to trade about 4 styles at once will do that…
February 22nd, 2007 at 8:29 am
Thanks Phileo. As i said, I got a little lucky on it. The key to me was the MACD divergence on the recent low, while it was starting to bounce off the lower bollinger band. I typically sell these at the mid band, but this looks like it has more juice in it. I decided to sell half this morning at the gap, and wait to see what happens with the other half. I do get a lot of failures with this setup, but the wins are usually pretty good making up for the low win rate.
DT
February 24th, 2007 at 1:58 am
What chat is this, guys?
February 24th, 2007 at 1:21 pm
@Michael: Muddy’s chatroom is at http://greenonthescreen.blogspot.com