QID: massive short covering!

Posted by Jack Haddad on January 24, 2008 at 12:49 am

QID has gained 15% or more over the past five days and is trading above the 200-day moving average. Most research shows that stocks trading above their 200-day moving average that have gained 10% or more over the past five days have shown negative returns, on average, 1-week later.  Today, there was a massive short covering on QID from 50.95 to 56.12.  Be careful!

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