Thursday, October 15, 2009

Tim Sykes' YONG trade, Oct 13, 2009

YONG chart
YONG is not exactly a penny stock any longer, after the explosive August and September growth. This looks like a momentum trade based on the break-out from a side-wise range in which the stock spent the previous week. The buy level is at about the level when the break-out looks certain. As reported on Tim's site, the stock was bought at $11.05, sold at $11.66. Looking at the day levels, the stock must have been bought the previous day.

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