I'm off to dinner but I wanted to post some thoughts on today. It was a very good day for a number of reasons:
Good volume with lots of buying support all day
The opening gap was not able to be faded.
Unlike most times when PM skyrockets and regular trades fade, we closed near the PM high.
The price stayed in the upper half of the range all day and closed near the high.
The best part was a major dump(most likely a program sell) that knocked the PPS down a lot was recovered quickly. A mini dump that followed also recovered quickly.
All of these things are counter to KRY's usual pattern of up in the morning and a slow bleed all day. I don't know what this means for certain, but there was a lot of momentum on the buy side today and a lot of support. Putting my short term trading hat on, I would definitely not be selling here.
We all know what happens when jumps up linger without additional news so we should prepare for it. But today was a great day with lots of momentum and a much different flavor than we have been tasting for quite some time.