Friday, February 20, 2009

Cabella did a beautiful thing

For some reason, CAB exploded today!
To get the background info, see my post from 7 days ago: Cabella's in a bullish trend

This chart shows a full two weeks of stock non-performance... until today.
The explosion you see represents 35.23% gain; I hope you enjoyed the fireworks display!

It goes like that (Market-Tao!). The market shows some strength after considerable short selling, then a few traders buy to cover their position and take profits. After a bit of buying volume, Price rises and other short sellers cover. Volume increases more. Price rises more and nobody wants to sell. Then Price can rocket to the moon.

Today's Price action was also spurred by last nights earnings report. That must have been a doozie.

CAB is now quite oversold and will likely pull back a bit.

This is definitely one to keep an eye on for further growth since I am expecting an eventual return to $25 at the minimum. Remind me!

No comments:

Post a Comment