Tuesday, August 18, 2009

Recon Technology (RCON) Update - Still Like This One For Potentially Big Gains

RCON continues to fade on low volume and had a disappointing day today as it did not rebound with the market. Fact is this thing just doesn't get any attention (and small amounts of selling are dropping the stock). However, when a few bigger fish fall onto this one or when it reports north of $1 in EPS within the next few weeks, a run to the double digits could be a quick journey as with its microfloat it moves both up and down quickly. Search RCON in my search my blog section for more on RCON. I still like the stock (for a swing trading long through earnings) though for those asking what I am doing (I took a little off when it ran 50% from my initial recommendation price, but still hold the majority of the position and will scale in back to a full position on any additional weakness back towards $6.)

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