Hey everyone, just wanted to note an interesting pattern in LEI. Apparently, for the last three days (4/11,4/08,4/07) this ticker has ended the day below VWAP then it for the most part bridges the gap pre-market, then continues upward about a 1.15, except on 4/07 where it ran up about 5.00 in the first hour and a half(due to news of a 15mil financing) . But one thing all three days have in common is that they never hold their spikes, and even though the stock finished fairly near the VWAP today it still ended beneath the fair price of the stock(plus the low float% and high volume, in addition to the 3 day pattern could indicate another repeat). So ideally, I would look to buy into a spike then short at the top as that has been the charts typical pattern. But Ill be cautious and holdfast to patience, watch for indicators of the trade not doing as expected and keep a tight stop loss to minimize the damage to my small account. well that was just a thought, ill post my watchlist on EGLE and other interesting picks tonight. Feel free no feel encouraged to comment.
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