Tuesday, March 30, 2010

Whoaaaa....!!!

Take a look at CNAM:



CNAM, like I anticipated, has exploded higher being up as high as 8%+ during some parts of the morning. Now I really can't imagine "people" who I am certain are much better informed about CNAM than I am or ever will be scrambling for shares with earnings announcement later today unless they are likely going to be good. Let me put the price/volume action into context. CNAM trades just under a million shares on average daily. However, close to 800,000 CNAM shares have already traded hands in the first hour of trading with roughly 5 and 1/2 hours still left in the day meanwhile price has risen around 7%!!!

Unless something drastic happens later this evening, I am definitely going to hold CNAM into earnings announcement later and into the open of trading tomorrow unless prices reach ridiculously high in after hours trading and I can't resist taking profits.

These price patterns occur over and over. Some times they work and some times they do not. But when they do huge profits can be realized. Looking forward to blow out earnings and an explosion in price.

Good luck and good trading!

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