When they go Vertical

An unexpected upside move from URZ today. I couldn’t find any news to explain it, but the volume was impressive. So, what do you do when a stock goes vertical? I started to get nervous this afternoon when it was up 20% then it went parabolic and was up 40% over the next hour. Then it started 5 to 10% swings over 15 minutes or so and I decided to bail. My new rule is to get very defensive when a stock makes a huge intraday move and starts to back off by more than 10%. URZ closed at $2.13 and I sold at $1.99. Who knows what Monday will bring. I have to think about where I would get back in URZ. You need special rules when stocks go parabolic.

I sold TAN today and took a small loss because the chart pattern is looking like it could go either way. AKNS sold off today which is one of my favorites. ESLR was up on nice volume, so I am going to ride it for one or more days.

Another good day for AMZN. It did a nice early morning fakeout and then consolidated for a bit which I take as bullish. We are getting close to $85 which could bring out some sellers. I like how volume has increased 3 days in a row here. I am going to give AMZN a little breathing room on Monday to see how it behaves. I do not want to see it retrace more than 1/2 of todays range or get below $82 on Monday.