May 24, 2007
Stock Du Jour (CYPB) & Random Observations
Nice solid morning of buying which reversed violently around 2 PM — what an ugly afternoon.
Notable New Lows: Alaska Air (ALK), NorthWestern (NWEC), Net.B@nk (NTBK) — $0.29, and KongZhong.
Notable New Highs: Freeport McMoran (FCX), Alcoa (AA) / Alcan (AL), Fifth Third Bancorp (FITB), Garmin (GRMN), Fannie Mae (FNM), Telefonos de Mexico (TMX), and CBS (CBS) — no doubt the WallStrip effect at work.
As I wrote in the pre-open comments, Cypress Bioscience (CYPB) was the stock du jour but there was no joy in Dummyville as the trade was a loser — with aggressive stop management a very small loser.
Cat: | Time: 8:01 am (utc+8)