I was tempted to buy CYPB Cypress Bioscience (chart) today, as it doubled in price on news of positive drug trial results. It is a $500 million company after the jump in price, and only has one drug. The recent disaster in DNDN Dendreon, makes a lot of bulls extra cautious, and bears extra greedy. That kind of sentiment makes for a bullish scenario.
Elsewhere retailer TGT Target reports good results and the stock gaps higher, only to fade by the end of the day. JWN Nordstrom follows a similar pattern. It looks to me, that a major player such as a mutual fund or hedge fund is unwinding a large position, selling some every day for the past three weeks or so. For JWN, 50 looks like support (chart).
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