As what goes up fast comes down faster. Is Ix Biopharma considered a one day wonder just like Clearbridge and Biolidics after recording an astounding 64% gain in 1 day? Today the stock suffered some profit taking and there was a serious amount of sellers locking in $$. It soared but because it touched this ceiling, the buyers made like a handsome amount of profits which warrant some $$ off the table. The chart was beautiful but no matter how nice it is, still some selling has to take place first. Look at the Top 30 Volume, Biolidics and Clearbridge continued trying to soar but both were battered down the past few days after some brokerage house restricted online trading on these counters and posit them in the restriction list. Market is not tough to trade but slow moving.
As usual, I traded some US stocks like Snap Inc which was much easier to make $$ and the movements were faster. Snap Inc was in the Top 25 Volume when the market opened last evening and tried to soared up. It was flashing for a buy while the chart signals looked beautifully setup which I longed 7000 shares and sold it off in a short while. The Dow Jones soared in the end and most of the stocks just rallied with Snap Inc closed strong at 16.91!
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Ronald K - Market Psychologist - A Stock Market Opportunist
