SPRD should have enough volume by today's close to qualify for a follow on pocket pivot. Institutional sponsorship has climbed since March 2009, and earnings and sales have been robust since September 2009.
In this schizophrenic market marked by questionable action on the part of many leading stocks, and a gap up/gap down news driven environment, some members may decide to pyramid in slowly letting price prove itself, much as we advise on ETFs when the model switches to a buy or sell signal.
Of course, the tug-o-war between the lifting effects of quantitative easing vs. bad news out of Europe is creating this unusually choppy environment. It is frustrating to say the least, but fortunately, all such challenging periods eventually come to an end. In the meantime, position sizing with care is prudent.
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