Update - STJ LEA

STJ opened in the pre-market at 7:39am at $32.10 after trading after hours last night at $32.60. The stock then traded between $32.25 and $32.45 and opened at $32.33. After the decline in the after hours last night and poor performance in the pre-market this morning with no big spike early on this looked like an opportunity missed from shorting at after hours highs last night. The stock hit an initial high of $32.50 and had a early drop to $32.07 (the low for the day) before it took off upwards and hit a high of $34.45. The volume is higher then average, but a lot of that is probably from momentum players piling on after the big run up today. I don't really see any news besides the company announcing their earnings report. The only thing I saw was that people may have been expecting an earnings warning, which hasn't happened, and figure the stock will report strong numbers. In the end, the opportunity ran its course last night in my opinion and this mornings action didn't really open itself to a good short since the initial high only took the stock up 40-odd cents after all the gains were wiped out very early on.


LEA, which was an ANGO no-short pick opened in the pre-market at $22.23, which was below last nights price of $22.35. In light pre-market trading, the stock traded as high as $22.29 and opened at $22.13 at 9:30am which is currently the high for the day. There was an early small decline to the $21.80 level and the stock has traded close to $22 even for the better part of the day. So the no-short rule here didn't really turn out, as I was expecting more what we saw from the STJ chart. Both LEA and STJ have held up well on a poor day on Wall Street though which either means that people are eager to jump back into Cramer picks after the long layoff or his new strategy of picking 52-week low stocks is a good strategy for him. Earnings season may also play a role. Any other theories are welcome...please feel free to discuss here. I would certainly enjoy to hear others ideas.