Big Board Day Traders

[cta751]

ACTU update

Today's candle concerns me, doji with long wick on the upside and very small on the bottom. Shows indecision and could go either way here, however more times than not the wick will point the direction. Long wick on top shows downward movement is most likely. On the flip side of that the 5 minute intraday's last candle of the day was just the opposite and had a long wick on the bottom side. It also had some nice prints AH with sales up into the 4.90's.

I also just found that we had another insider purchase yesterday for 22,000 shares by another officer. That's 122,000 shares purchased by insiders yesterday with 100,000 of them being purchased by the Chief Financial Officer. A very nice sign IMO.
http://finance.yahoo.com/q/it?s=ACTU

Another interesting read from Monday
Get Ready for the Bounce
By Rich Smith February 4, 2008
http://www.fool.com/investing/high-growth/2008/02/04/get-ready-for-the-bounce.aspx

I really like the part where it speaks of ACTU being a possible buyout target and Microsoft needs them. Hmmmm didn't they just offer a nice price for Yahoo, good sign they are in a buying mood. IMO more likely wishful thinking but hey anything is possible at anytime on Wallstreet.

I still believe this will hit my target of 6.50 to 7.50 in the short term, however it is looking likely that it may dip a bit more. If it dips tomorrow I plan to take profit and reenter when it bottoms out to preserve some capital and put myself in a better position.