Online Stock Trading | JRJC - New trade

JRJC - New trade


Filed Under Market Commentary |

Good morning.

I was able to enter into JRJC today.  This stock is breaking out of a 6 week base with positive volume.  Today’s volume is already twice the normal daily volume.  The stock sports a 33% 3 year Sales rate with excellent accumulation.  Other stocks in the group inlcude:  BIDU, SNDA, NCTY, GOOG, & RATE.

jrjc-trade-7-9-07.png

As you can see, there is very little selling pressure with in the base. 

pf-jrjc.png

Point and figure for reference.  Make sure to keep a tight leash on this puppy as it could get wild.  Remember to keep your losses small.

Market Speculator

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Comments

3 Responses to “JRJC - New trade”

  1. Gio on July 10th, 2007 1:25 am

    JRJC moving at a parabolic pace. I never noticed how much ground it has to cover until I pulled out a 3-year chart. In the short term I think it falls under a stock-chase, but as long as sellers are on vacation it could be a long chase. As for Chinese stocks I like HMIN which is regaining some ground. what do you think about them? I found HMIN on the IBD100 a few months ago.

    adios,
    Gio

  2. Market Speculator on July 10th, 2007 1:33 pm

    You need to wait on HMIN to build a base above its 50dma. Volume is running high on the downside so it will need to build some accumulation. JRJC has lots of accumulation.

  3. Update on JRJC on September 19th, 2007 9:59 pm

    […] Take a look at my original post. […]

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