Someone's Computer Goes Ballistic on AsiaInfo Holdings (ASIA); Gafisa (GFA) Continues to Fly - Trader Mark

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Someone's Computer Goes Ballistic on AsiaInfo Holdings (ASIA); Gafisa (GFA) Continues to Fly
Oct 14, 2009 02:55 PM UTC

Trader Mark

Return	Risk
-7.00%	MID

Analyst

Profile & Performance

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Symbol	Sentiment	Start	Return	Closed
GFA	n/a
ASIA	n/a
PWRD	n/a

Via Fund my Mutual Fund:

This feels so much like 1999; it's like an orgy of moves to the upside.

I am not sure what is going on today with AsiaInfo Holdings (ASIA) but it appears at around 10:15 AM someone's HAL9000 got very interested in the name. Volume in the first 75 minutes is already 140% of the daily average. Stock up 10%.

[click to enlarge]

Gafisa (GFA) is on a tear the past 3 sessions, a computer went crazy first thing this morning as well here - just like ASIA we already have about 130% of a full day's volume in the first 75 minutes.

[click to enlarge]

This market is simply frightful for bears. I would call this action frothy but at this point it would be repetative.

p.s. Perfect World (PWRD) did a great job of shaking us out - it fell below support yesterday morning, triggered our stop loss and than turned 180 degrees. It is up 6%+ today alone, and surging. Can't win them all.

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