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Monday, March 26, 2012

GRVY

GRVY is another of the vast number of stocks that did absolutely nothing January of this year, then came out of nowhere to become one of the strongest stocks in the market (calling it a "leader" is probably a bit much, as it is under $5). This did pretty much what it was supposed to do when it's price was double the 200dma: it formed a base, which did not last very long before the next move up, which is probably early but comes on very high volume. In terms of distance from the buy point it is not too terribly extended, but I still don't like to buy when the price is more than twice the 200dma. However, trying to pull a quick 10-20% gain out of this might not be a bad move here.

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