GROW had a big short interest. It was one of the high-fliers before the correction. When we saw a short-term bottom and stocks started moving up, the previous high-fliers with heavy short interest are the one to make huge gains. I have a screener on yahoo where I have screened for stocks with huge short interest (>6). 90% of those stocks made huge move not as huge as GROW but big nontheless. Some of the stocks that were making new high during the correction are not doing as well in this up-move so I think this is more of a short covering rally than resumption of the uptrend. We have come to an important juncture and my guess is that we have seen the high of the next 6 months. We are going to re-test the lows. I expect the selling to start this week. edit: nothing technical about this. just reading the market.
There's a note about GROW under the Stocks section of the forum. As for the price action, it's hard to say why it's exploding so fast. I'm stunned that it did that, and do not expect it to continue at this pace. I never expected this pace to begin with, but I'm not going to complain about my 1 week 40% profit either. On the other hand, it fell from an explosive growth to the $70s, so heading back to $70 would simply be heading back towards its price in Dec. The fundamentals on it are remarkable (nearly 1000% business profit increase in 1 year). Short interest can be deceptive, in a dodgy market, people simply cover their buys with puts.
-It has no affect on the markets- huh ? exxon and crude oil both rallied friday close to 1 percent and you say it did not have an effect on the market?
buy the dip or... dont worry bulls Bernanke is speaking this week, he should say everything is fine, so just buy this dip ahead of his speeches this week and sit back and collect.