This is a nice short holiday week. Tomorrow (Tuesday) is a half trading day and the markets are closed Wednesday. Also, just about every professional market maker, specialist and market guru is already on vacation –you should be too. Welcome to summer time trading.
As for me, I should be taking the week off but probably will be around to watch some paint dry. The dust hasn’t quite settled on a proposed MVIS trade, but I’m watching it all the same. The recent action looks like weak hands (retail) are selling into the strong hands (institutional). If you must trade something a buy in the $4.60 area on a morning sell off might be worth a .10 – .20 cent scalp. Be advised that you will own this stock until Thursday unless you sell before 1pm EST tomorrow.
I still like ASYS but volume is lacking. However, due to its minuscule market cap this is a company I’m happy to own in the $8‘s. Any news or even a silly rumor will easily push this stock past its 52 week high ($9.21) I’d perefer to be in it before said news or rumor. I’m a buyer at the break of the year high. I’ve stated that previously in the blog.
Have a great Holiday.
CC
