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Registered User
Joined: 3/8/2010
Posts: 63
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Does anyone know why 40 or so of the top 50 percentage gainers on Friday were bank stocks?I just sorted the US stocks list in SF by the percentage gain column and was somewhat shocked to see this. I didn't hear about anything... I am I just not reading enough new?Anyone have any insight?
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Registered User
Joined: 6/6/2005
Posts: 1,157
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A lot of bank stocks began their move on Thursday. The only reason I know is because I follow a lot of low priced stocks and saw the activity. I was already in 3 of them BNX, CACB, FOBL -- but not because I had heard any news, just from the charts and luck...which I'm okay with.
The last time I say that type of activity in low priced stocks was off the March '09 bottom with stocks like CAR, LVS, etc. making huge 2-3 day surges and then settling into a range for a week or so before making new highs. If this is a genuine move that might happen here -- if it's a handoff to retail traders the stocks will all sink.
David John Hall
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Registered User
Joined: 3/8/2010
Posts: 63
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Seems like almost every one of these stocks have given back all of their gains within a few days.
So weird....
Do you think its likely for them to try and reach these new highs again in the near term or was it just a weird temporary phenomenon?
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Registered User
Joined: 3/8/2010
Posts: 63
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I now wonder if this was some sort of precursor symbol to the crash this week.
Thoughts?
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Way too many of these were lagging below the LR30 (many of you know that is a major indicator for me). The move doesn't surprise. The magnitude did, of course. But not the move.
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