Update - SGG ITU FWLT

SGG traded below Friday's after hours close of $8.67 in the pre-market reaching a high of only $8.56 at 8:56am. The stock then spiked to $9.25 at 9:34am on a big volume spike. It almost looks like someone was trying to trap some short sellers there since the surge in price didn't happen until 9:34 and not right at 9:30...this seems very strange to me. The stock did come down to $8.53 by 11:00am. The 52-week high trend didn't pan out here. The message boards that I read had a lot of negative posts in regards to this stock saying it wasn't as good as the other Cramer picks for this sector and that the company has a lot of debt. Still, its appearing safer to wait a few minutes after 9:30 to see if there is a spike, or at least cover before the open.


ITU hit its high in the pre-market of $36.40 at 8:24am after only trading as high as $35.80 after hours Friday. It then went as low as $35.17 by 9:01am. The first big spike in volume also happened late with this one coming at 9:35am so I wonder if there is an issue with my charts today? Either that or there was a problem at the exchange? The stock traded in the $35.40 to $35.60 range until around 10:50am before it began to rise up. In the end, not a great short play here. The best opportunity would have been in the pre-market where the volume is the weakest. Seems like too much non-Cramer momentum kept this one going strong.


FWLT one I thought best to stay away from due to some similarities to SYT turned out to be a pretty good call. FWLT opened higher than Friday's after hours close and climbed from there for pretty much the whole day. It closed Friday at $47.53, opened in the premarket at $47.94, went as low as $47.30 (which was the only good point to cover at, and it was only a brief stop there) before climbing to $49.32 by the end of the day.

So a few things to consider. This was the second time Cramer had picked this stock in recent months, it is a oil play technically, and it was the 3rd pick of Cramer's show. The last point I mention because he normally makes his 3rd pick after 6:30pm, and some brokers are closed by that point. This would reduce the after hours demand thus reducing the climb. Then, people are given a better chance to research the company and make a more informed decision. Then, when the market opens the next day, since it isn't up as much as other picks people buy in quickly forcing the stock to rise. Then other people see this and jump on to catch the wave. Just a thought. Maybe a stretch? Anyone else have a theory?