The markets are off to a flat start as all eyes are on Ben Bernanke and the FOMC policy meeting. Given that the indexes are flat, we don’t think the VIX has any business being up 4% today. We think this is another bullish sign that traders are too antsy about a market that is at 3 year highs, instead of just accepted the bullish price action. This shows that even as the market continues to rally to new highs, there are no shortage of bears out there.
Turning to our stocks in focus, RFMK was the big winner today. We called RFMK all day in our chat room yesterday, arguing that the bottom was in and the stock was oversold. Our call turned out to be spot on as the company released news today and the stock rallied to a high of .0088 for a gain of over 100% from yesterdays low @ .004. TLON continues to provide members with gains from our breakout call @ .85. TLON hit a high of $1.18 today for gains of 38% from yesterday’s breakout. NEI continues to churn just below resistance @ $2.08 ahead of tomorrow’s earnings. RAMO was also called live in chat this morning by one of our very own members and has since rallied to provide us with 80% gains. Finally, CFW is on watch as the stock is showing bullish technicals, a break of .60 would be a buy signal.
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