I have been playing this game for a long time, but I can't understand what happened today. I know that the market was up. But why did JADE go up over 7%?????
I am long on this stock. I own 5700 shares. And, this was was a very pleasant experience. But why did this happen? There was no news. This makes me very nervous because there is no apparent reason for this much of an advance.
Can anyone calm my nerves by explaining what happened today??????
It went up today because after about a month of consolidation off of it's first big run-up, buyers are stepping up again. You could see that in the last couple of days, volume has been drying up as the price has been stabalizing. It was destined to bounce when buyers re-appeared. This is all normal technical behaviour for a newly discovered growth stock. The consolidation was probably prolonged by the general downturn in the market. See my post from the 16th:
oh and as to why it went up on no news today. It was pounded by shorts last week. They really where trying to make a quick buck. But Today some large buy orders where coming across the wire and each time they came across the price went up a steeply. Take a look at price and volume. That tells the story. Large investors getting their feet wet again and getting back in. Us small time guys are just along for the ride anyway. We dont control the price in any way at all no matter how bullish we are. The big money drives the price up or down.
I have pondered that same question. My observations have been that Jade also goes down 5% and 10% when the market is down only 2%. It seems to be more volatile than other stocks. I have read that thats a sign of bullishness. I just chalk it up as nervous investors and bullishness. I think you know what I mean.