Thursday, January 24, 2008

These Stocks are on Crack

Today's post features stocks that had explosive moves to the upside in intraday trading. They ate some crack rocks and then went frigin berserk. In this analogy, crack rocks are to volume surge as frigin berzerk is to higher stock price.

I think a big institution, or possibly an insider stepped in and bought about half a million shares of MRVL at around 2PM today. There was a huge spike in volume - in one minute it traded 500,000 shares, the minute before it had traded 50,000.

First Solar, FSLR also had an upside breakout at about the same time, but the volume surge wasn't as impressive as MRVL's. The price action, however, was much better - a 6% surge. Talk about some sweet profits.

Mosaic, MOS, had a breakout about 30 minutes before MRVL and FSLR. Note that the stock was up 12% today.

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