Monday, June 29, 2009

FUQI,,,,, I May Have Been Too Cautious

FUQI broke thru it's 52 Week High on HUGE Volume to close up nearly 17% for the day. This is a great sign but stay vigilant as this may be just a fake break-out. As seen in FUQI's chart, the last gap-up we had led to a pullback but the May 15th gap-up led the way to a HUGE run. Our 20 and 50 dma's are running upwards while our 200 dma has just begun to sweep upwards. These are good signs. 
The 4.6 million shares traded today is the highest volume since FUQI IPO'd. 
Overall everything looks great but in this market it pays to stay alert and protect your profits...

XIDE up 17.7% on the day - protect profits and proceed with caution
CPST up 11.8% on the day - protect profits and proceed with caution
ABIO up 3.7% on the day - stay alert
NCS still trudging upwards 1.4% on lower volume - stay alert

BIDU appears to still be in consolidation phase - on watch 
WNR still Pinching - on Watch List
HANS still on Watch List
ANCI faltering but still on Watch List
LNG faltering
SUSQ still playable.