The Oddest Thing Happened

The markets went up for the third straight day. Hard to believe, eh? DNS +141, +40, +16.

Of the day's top ten performers, 9 of the 10 aren't in any other period's top ten list. #1 SIMG was, but its 14.3% gain got it into the one and two week top ten lists. The stronger leaders seemed to take the day off, coming in with modest gains or very modest losses. Only SMTC, FCFS, and YONG were in the +4.5% range.

Trades:

I bought call options on SMS, my little fast action steel play. I've followed SMS since it was MTLM, and when there's a little good news, this guy runs up fast. There's no meaningful coverage of it, so I won't recommend it. I bought December calls with almost no time premium, and for less than the intrinsic value at the close.

Reversal alerts: (17).

Those with some earnings and sales growth, lowest forward P/E first: UNTK, PRAA, LOJN, TSU, TRCR, and ANR. These charts aren't pretty. UNTK and TSU have the best reversal patterns.