RACK Surges 7.7% Today

rack_chart_01_23_2007 RACK Surges 7.7% Today

RACK jumped over 7% today due to heavy buying and shorts covering. Today’s volume is three times the average volume. The stock appears to be oversold after dropping more than 30% from a low guidance.

The stock closed at 19.84. I bought 500 shares yesterday and gained $670 of unrealized profit today. Buying RACK was easy. The hard part is selling. I could sell it tomorrow for a quick profit or hold it until the stock rebound back to the 30s.

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