There’s always something to trade. You just have to be where the volume is. It can take one good stock to make your week, and one good week to make your month. 90% of life is showing up, and for those who showed up today, there was money to be made.
We had a repeat offender today, our good old buddy Origin Agritech, ticker SEED. Maybe there’s a hedge fund out there that needs to save their entire year by driving up this stock. Maybe there are some new algorithmic programs being tested out to see how far they can take a small cap stock for a ride. Whatever it is, when a stock moves 30% on volume that is more than the entire float, there is going to be some money in it. Forget that it’s the day before New Year’s Eve.
I suppose one advantage of the rise in algorithmic trading programs is that even on a day like today when a lot of traders are off their desks, the programs can still do as much volume as they want. The computers aren’t taking away skiing or sailing, nor are they too hung-over from partying all night to trade . If they want to drive a stock up, it doesn’t matter how many other traders are on vacation, they will be able to drive it.