Stock of the Day

My Stock of the Day is Rambus (RMBS).

Two weeks ago, the stock spiked higher in a huge surge in volume. The news at the time was that RMBS would receive a favorable ruling from the FTC in a legal matter pertaining to some of its patents.

Last week I took a long position in the stock, anticipating some follow-thru strength. Today, the stock is rising another +6%, on strong volume. Resistance comes into play around the 200-day moving average, currently near 24.38. But there could be more upside after that.

Other stocks making notable, high-volume moves include:

• JCG
• LFC
• SSRI
• AEM
• CPA
• ICE
• SPTN
• AKH
• MWRK
• GROW
• LNET
• IAAC
• SNP

long RMBS