Nice move today... Good volume although the price moved quite abit on low volume this morning... the overall acction through the day supported the move... I find this especially encouraging since we are just before earnings when one of several things normally occurs... 1. weak action / price stable --- nothing really happening 2. strong action / price decline --- bad news coming, small holders get creamed 3. strong action / price increasing --- ???????
This is looking like number three, hoping the next few days confirm the action today... yesterday there was no volume at all, today made up for it... I'd like to see the volume maintain for the next few days (wouldn't mind the price going up either)... Looks as if some good news could bring the sector back in the limelight, several post ago I referred to IBD's comments regarding this.... hope its true, as much as I have backed away from stock in general, I am still overwieghted in the healthcare sector from a total asset perspective...
With a rise like we had today, it's tempting to guess if the stock will fall on the actual earnings news when it is released. Any thoughts on whether that is worth consideration, and how to see signs of that before it happens?
I know, the best advice is to buy and hold, but it's always fun (and sometimes profitable) to try and outguess the market.
The closing numbers were a real pleasent suprize..... Strength going into earnings with volume tells me that those that have a better clue into those earnings (a good financial analysts can pretty much tell with alot of work, or inside info) If the volume trend holds, I guess that those in the know are buying now... if volume folds up I'd be cautious... but I didn't sell yesterday and I believe that those that buy and hold.... lose This stock is a great example yet from a daytrading persective I have substantially improved my position... I'm fighting the urge to take short term profits here but will slowly sell into additional positive price action at the resistance points... (I do have a core holding that I don't touch).