Thursday, May 18, 2006

Standout Stocks

Here are some stocks making notable moves today on high volume:
  • OII: bounces on Mad Money mention, and large contract signing
  • AP: spikes to new highs after bouncing off 20-day
  • ZUMZ: positive reaction to earnings
  • GYMB: hits new high after reporting earnings
  • STP: bounces nearly 20% after raising guidance
  • BLUD: gaps lower on analyst downgrade
  • RAVN: gaps lower after reporting earnings
  • BKS: stock tanking after reporting earnings
  • PLCE: falls back to 50-day after reporting good earnings
  • YHOO: falls to a new 52-week low

Market Comments: The market is not getting much of a bounce. But measures of investor anxiety continue to rise. The VXN is up again today, the CBOE put/call is again over 1.0, and the bull/bear spread in AAII is now negative again. These are the necessary ingredients for a tradable bottom. I have began to add to my long positions.


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