Ask Vendit Off Topic Questions

[Walkingshadow]

Freeus,

Very bullish engulfing pattern, and you won't often see technical buy signals as strong as these, across the board:

http://www.askresearch.com/cgi-bin/chart?symbol=irf&exchange=USA&size=800x600&months=6+m...

Volume today was 3 1/2 times normal volume, at 7.4 million shares. That is not retail buying predominantly, but it is also not yet massive professional buying. Tomorrow will be interesting to see if there is a gap up on similar volume. If so, that will indicate professionals/institutions moving into the stock, and if so, you will not see a gap up/instant selloff at the open, which is the usual scenario when only primarily retail buying pressure is supporting the stock. Because of the intraday chart, and the total volume on the day, I would anticipate one of two scenarios tomorrow: 1) gap up without a subsequent selloff, and the stock moving higher on the day from there; 2) little or no gap up, but the stock just taking up where it left off at today's close, and it rallying steadily throughout the morning at least. Either way, I would expect big volume on the day.

An outside possibility is that IRF is in the hands of momentum players/daytraders, in which case the volume will dry up as they lose interest and move on to other things, and the stock will collapse back. This usually happens fairly quickly, since this crowd loses interest after a day or two of playing around. Also if this is the case, we will see a lot of intraday volatility as the balance rapidly shifts from bulls to bears and back again.

http://www.investorshub.com/beta/read_msg.asp?message_id=53555

JMVHO, as always......

Walkingshadow