1:20pm ET: Coffee micro-roasters brewing up some terrific gains in recent days. Hitting new highs today on heavier than average volume: BCCI (+40%), HCEI (+100%), JCOF (+60%). Note that all of these stocks are speculative and all trade well under a buck. Volumes on these issues have been negligle, that is, until recently. Perhaps there’s some consolidation ahead..?
Below is a chart of what technically looks to be the best bean in the bag, Javalution (JCOF). The chart shows major support/resistance levels at the 20 cent multiples with minor support/resistance at the odd ten cent levels. [Note that the price scale on this chart (and with all of my charts) is logarithmic.]
12:30pm ET: Intraday support/resistance:
SPX 1332/1345
DTX 540/547
DJIA 12540/12640
Nasdaq 2820/2860
OEX 592/597
VIX 16.7/17.9
Trin range: 1.0 – 1.5
Average VWAPs: +90/-24 (bullish)