Stock of the Day
I have two SOTD's today. The first is Alpha Natural Resources (ANR). This is a fairly recent IPO. The company operates in the coal industry, which we know is red hot right now. With natural gas prices spiking, I am looking for coal-based alternatives to remain in strong demand. The stock looks like it is breaking out of a nice cup-and-handle formation on above-average volume. Above $30.50 would be a new high for the stock.
My second SOTD is Nvidia (NVDA). The company makes graphic chips for the PC and handheld markets, as well as video games. The stock broke out on strong volume on 8/12, and then proceeded to embark on a low volume pullback (LVPB). Today, the stock is again moving higher on above-average volume. This action is also notable given that its competitor ATYT reported weak results this am.