Some said yes, some said no because it was "Straight up from the bottom" SUFB.
TML Trader then posted the immediate reaction - gap down after breakout- certainly looked like a secondary or other news driven event to me-- TML confirmed it was a secondary.
I look at the above chart and get very excited. Notice how the secondary volume and price level held at the level big volume came in to the stock-- That's institutional support. Retail gets scared out on a secondary announcement-- institutions take the panic shares. --
I would absolutely buy that stock -- I actually went through the list of secondaries last night hoping I could figure out what it was and buy it on Monday-- Unfortunately, it turns out it was a historic example of Priceline-- Bookings holding and not a chart from last week.
Anyway here is my annotations on how I would apply my rules and trade that stock.
