Looking through a lot of charts the past 24 hours to see what is strong and it is a very weird mix. Aside from the usual cohort of momo favorites, the relative strength is in utilities, natural gas, a portion of REITs (not all of them), paper & packing companies, consumer non discretionary, and semiconductors (which were on everyone's shun list 2 weeks ago). Utilities and consumer non discretionary usually rally during times of caution, whereas semi's and paper/packing companies rally on thoughts of cyclical expansion. So 2 completely opposite economic themes (slowdown and expansion) are rallying concurrently. Hopefully HAL9000 shows up and explains its reasoning behind these head scratching developments.
I've been watching LogMeIn (LOGM) for about 3 weeks now - probably the best chart of a stock no one has ever heard of.
This is one of those stocks right at the cusp of the amount of volume I prefer to deal with. While the 'average' is over 200K shares a day that is overstating it as May showed unusual volume - many days are like today when only 55K shares (thus far) have traded. Fine for an individual but a bit more tricky for any decent sized institution. Good enough in terms of market cap however at $650M+.
What do they do?
LogMeIn, Inc. provides on-demand, remote-connectivity solutions to small and medium-sized businesses, information technology (IT) service providers, and consumers in the United States and internationally. Its services include remote user access services, which allow users to access computers and other Internet-enabled devices to continue working while away from the office or to access personal systems while away from home; and remote support and management services that are used by internal IT departments, and external service and support organizations to deliver support and management of IT resources remotely.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows