Thursday, April 5, 2007

Potential Short Squeeze

Amgen (AMGN) is moving much higher this morning. It looks like the shorts are being squeezed. People on the short side have ridden this stock down about 20 points in the past few months, and on the first hint of a bottom, are covering. I wouldn't say that this is a turnaround, but a short move. There is some potential to catch a point or two, but I'd want to see it hold a base of 58 for a few days before I'd jump in.

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