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Thursday, September 15, 2011

ACC

ACC gapped up so high this morning my first reaction was that it was an acquisition, but it actually was news that it is going to be added to the S&P 400 index, normally a pretty decent reason to buy, but I guess it was too much too soon. One thing to note here: today was not the actual breakout, it came a couple of weeks ago, and the pivot point projection in this case turned out to be pretty precient, as it gapped up above it and quickly came down. Another thing to nete: during the August panic, as this fell to the 200dma, the price relative line didn't budge. that told you this was a very strong stock.

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