With yesterday rally, DAN (nyse) is now in record territory. When it emerged last year from bankruptcy shares were trading at about 14$. With a little push it could be going throughout unknown territory. I expect this to happen within a month. It's not the right time to short that baby...Next buy signal 12,26$ giving market to retract a bit before next rally.
MB (tsx) has rallied 40% yesterday. Now the real question: is that substainable??? If you are long or short there is nothing like taking a profit in a so short period of time the difference will be that if you are long, you will take a minor profit, if you are short get out of there and wait for a dip. Is that substainable??? We should know by the end of this week. It could be a bubble and if so it will burst before the week is over. If it goes over 2$ by the week-end, well that will be time agian for a profit but at least the answer will be it is substainable. Results will come in the next 6 weeks and i think they will post a solid quarter with excellent profit and naturally they will not break their covenants with their banks.
Have a great day
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