Mkt was down again and many small stocks actually fell on the day so for PDY to hold onto 2.7c was a great result.
Its about time the DOW stopped for a breather so we may see a weaker market tonight...
Nevertheless, this stock is just coming onto people's radars.
The volume was the third highest in 12 months, and in 2 days we have witnessed about the 10th highest weekly volume in around 5 years.
OK so where to from here.
1. the disbelievers (the weak holders) are getting out
2. the strong holders are moving in.
3. for the option holders, remember that leverage is not everything. If the head stock is basically an option itself then its better to play this than the option. One piece of bad news and you wont be able to get out of the option.
4. this stock can be both held for the next couple of months, but it will also attract nimble traders as there is plenty of shares on issue.
5. They will want to be quick though.
6. Waiting for a pullback in this stock may not occur...
7. If we get 1 or 2 more adys like this it may attract a speeding ticket...I believe that this would be unlikely to stop the momentum..
Good luck to those in the stock...
PDY Price at posting:
2.7¢ Sentiment: None Disclosure: Held
