Update - MGPI

A little late on the update today...had some problems with blogger.

MGPI had a big day today. Like I said last night I wasn't too keen on shorting this one, and it was a good call. I also said that I would be interested in looking at 10:30 to see if it was peaking there, and the high that produced the best short opportunity was at 10:41am. But watching this one for most of the day it just kept going up even after the dips. I'm sure ADM reporting a good quarter and going up a few dollars (not down like Cramer thought) helped MGPI along. So there were a few factors to consider the move in MGPI today. It hit its 52-week high after the Cramer mention. We are now 3/3 in the last 2 days when stocks hit their 52-week high they run a little longer and an little higher and seem to peak around 10:30am. And this is another example where a stock follows the general trend of the sector. In the end, a new rule is still forming around 52-week high stocks. I don't want to say I will never short them, its just a matter of seeing a few more examples to see if there is a consistent trend of peaking around 10:30.