Well, I wish I could take personal credit for this, but I really can't. All credit goes to the Trade Triangle technology which two days ago picked out a stock that made a major reversal.
As I looked around the web, I saw little or no mention of this stock anywhere. It does not seem this stock was on the top of anyone's radar screen.
So how did I find this stock that just happened to open up over 8% higher today? I used the recent Trade Triangles scan and you can do this every day with MarketClub. I then looked for markets that on average trade over 2 million shares a day and are showing a green monthly Trade Triangle.
What popped up on my screen two days ago was Celgene Corporation (NASDAQ:CELG). Yesterday I highlighted this stock as a buy in my update video. In case you missed what I said, you can watch that video right here. My analysis of Celgene starts at the 4:42 mark in the video.
I indicated that I thought Celgene could move to the $135-$136 area. It practically got there today with the big jump on the opening. What caused the big jump was an announcement by Celgene that it was buying Receptos Inc. (NASDAQ:RCPT) for $7.2 billion. This gives Celgene an even bigger presence in the $67 billion drug market to treat autoimmune conditions.
You can search every day in MarketClub for stocks that represent the same opportunities as Celgene. It's easy to do with the Trade Triangle scanning tools.
In today's video, I will be taking a general look at the markets to see exactly what's going on and determine if the market has made a fake or real turn to the upside.
Please feel free to leave your comments below this post on any market related subject.
Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
