I am not comparing DXPE with CUTR. What I meant is when big boys finish dumping (for any reason legal,financial or profit taking), it doesn't mean that the stock will recover. It may or may not. Monday's action will be the determining fcator for deciding whether to short or go long on DXPE.
Yes vol is high and quite possible that the big boys are out. But I would still wait for Monday's action for confirmation that the big boys are exhusted and there is a buying support from some other big boy.
As an example see past IBD#1 CUTR. The big boys dupmed after CUTR became #1 and then the stock didn't recover.
Not now, but I was long on last Monday when it appeared as #1. I got out at 10% next day. Because 10% in one day is much much more than 100% anualised.
I was thinking to go long again if it showed any side way movement like PTRY and ABAX but that didn't happen.
I will decide on monday after noon if I will be long or short on DXPE, after watching the action and reaction of new ranking in IBD.
Here's the top 20 from this week.
#2 ERS (might not be for very long)
This is all I look at, only trade the top
20. One note all the stocks on the IBD
have a target on their head. Use your
trailing stop until its high enough to put
a a hard stop at the price you paid.
The MM's can't see a trailing stop until
it trigers. a hard stop they can see.