3SBio (SSRX) on the Move
3SBio Inc. (SSRX) is up over 5% in trading today and now has a 28% gain since I highlighted it on the blog earlier this month at $17.34. Volume has been exploding as the stock reaches new highs and continues to play a role in the China bull market!
The stock made it’s debut in a post where I asked the question:
Is SSRX the Next JRJC
A run to $30 is not out of the question based on the recent infatuation with Chinese stocks (similar to our tech stocks of the late 1990’s).
I will look to grab a small position in the AM tomorrow (keep my exposure low due to a lack of an ideal risk/reward setup).
SSRX then went on to make a screen titled, IPOs on the Move which I uploaded earlier this week at $18.60.
SSRX – 18.60, the stock has popped 16% in early morning trading as it breaks the recent five day consolidation range. It is back within striking distance of new highs. Early morning volume is 1,500% larger than the average.
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Not looking so good now. Guess there earnings announcement has the profit takers running for the door. The stock is slipping today.
Chris,
What do you think of today’s CROX earnings? Do you think the stock lost it’s momentum? It just broke out of it’s 3 week tight pattern
Thanks in advance
Looks like it’s about to get eaten:
http://www.chrisperruna.com/2007/09/20/will-crox-get-eaten/
Listen to what the Institutional Buyers are Saying (with their actions):
Held by Institutions: 557
Money Market: 241
Mutual Fund: 304
Other: 12
New Positions: 172
Positions Sold: 75
Shares Held: 104.9 mil
Shares Held Previous Period: 118.1 mil
Shares Bought: 28.5 mil
Shares Sold: 41.7 mil
Value of Shares Bought: $1.68 bil
Value of Shares Sold: $2.46 bil