The market is the down around 2:00pm EST on Monday. Nasdaq is about unchange, S&P500 is down about -2. Overall the decliners outpaced advancers in terms of volumes and issues. But the good news in the volume is slower than the normal trading volume so far. The market opened strong in the morning session, it then faked away in the afternoon. It is still in the consolidation mode like last week. Caution should be employed until the momentum has turned.
Stocks worth considering within my up momentum criteria are:
(ELOS), a stock market leader in the medical laser business. It made another fresh new 52-week high today. Overall the industry is doing very well in the past few weeks.
(DWA), a movie development, production, and exploitation of computer generated (CG) animated feature films company, is in confirmd to be purchased by Viacom. Until another suitor has shown up, which I do not expect to another one. It will be a stock not worth watching.
(MYOG), a biotech development stage company announced phrase III trial success of its Pulmonary arterial hypertension medication. It was up about $7 around 2:00pm EST. The volume was a massive 11 millions as compared to the typical 800K trading volume. To me, this is still a very risky stock, until the FDA has approved the medication, it can sink $10 easily if any negative news on the trial.
2 comments:
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