April 20, 2010

RCRC - Like the chart, not the timing

Broke through resistance (about 16.75) yesterday on strong volume. but I'm not going to trade it. RC2 reports earnings tomorrow, 4/21. Have no guesses what that will look like, but don't care. This is about the chart, not the fundamentals. I'd rather miss any potential earnings bounce than risk getting hit by a bad report. Not a good risk when I have no insight on the quarter.

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