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  • teebrane teebrane Jul 25, 2009 9:52 AM Flag

    Don't expect this to last

    Does anyone have the VWAP (volume-weighted average price) for the day? I just subscribed to the NASDAQ VWAP thingy, but it wasn't able to get any data.

    Time for caution - Friday was only double normal volume. Someone is testing the water - they'll get a lot more if they like what they hear Monday, and I'm inclined to think they'll like "EPS -0.30, China going so well they'll have to import from Europe soon". They may settle for earnest words of hope from Mr. Baty, but I wouldn't bet the farm on near term upside if that's all we get.

    All that buying after we hit $2.30 looks like ask-chasing to me, but with good news we should hold 2.30, and news like "China alone can get us running at capacity Q3" will make those casino drunks at the close looks like geniuses.

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    • Tee - I have no professional chart experience at all. So anyone can correct me or enlighten me and it would be appreciated. What I see is we basically blew through the ceiling resistance at $2. Then all the technical traders/bandwagon kicked in and away we ran. Volume looks good to me. It is was more than 3 times average volume if you take out the one outlier day at the end of june when 25% of the shares traded. Avg. Vol at NNBR is normally 80K. Volume was also heavy between 2 and 4 a clock with no signs of slowing down...

      Someone see something different or am I completely missing something?

      My background is financials and manufacturing aka fundamentals and that is the area that still has the caution flag up. But each day we survive and slug it out we are closer to that light at the end of the tunnel. aka LIVINS CHRISTMAS THEME! Some of us just purchased the sleigh on Friday. Next six months we will work on filling it up with Christmas presents.

15.38+0.14(+0.92%)3:41 PMEDT