PPR - Taking Position in Rackspace Holdings (RAX) anticipating Pocket Pivot - RAX
ALTR didn't work out, so Gil is moving to Rackspace Holdings (RAX), where he picked up some shares at 21, looking to add on strength here. RAX is a fairly liquid little stock in the data storage arena. Right now the stock is trading about 46% above-average volume, which would put the volume rate ahead of the big downside-volume bar you see on the chart, below. This looks like it may turn out to be a pocket pivot buy point if the volume holds up and exceeds the down-volume of August 26th.
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