Monday, November 8, 2010

Polypore International (PPO) with an Impressive Reversal

I wrote last week we are seeing atypical technical moves that are simply obliterating bears of every stripe.  This reversal by Polypore International (PPO) is just another one that defies explanation.  While I felt the selloff was overdone based on an "in line" earnings report, to see a huge red candle like that mean absolutely nothing, and the stock to reverse and break back over support and fill a gap, in a span of 2 market days is simply jaw dropping.  I can't add much more that I have not already said - this market is punishing anyone who hedges, shorts, or thinks stocks can actually break down when support is broken.

No position


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