RevShark: How He Saw Thursday's Action

Every trading day, James 'Rev Shark' DePorre gives RealMoney subscribers the play-by-play on momentum trading. This story originally posted on Thursday, April 30, at 10:38 a.m. Here's how he saw Thursday's high-momentum action. For a free trial to RealMoney, click here.

The very strong trading momentum continues. We have plenty of stocks being chased straight up for the second day in a row, and breadth is once again extremely strong, with about 4,000 advancers to 1,000 decliners.

I'm playing some of the most active sectors, which are solar energy and bulk shipping. Those are the groups to which traders tend to gravitate when the action is fast and furious. Some of the stocks I'm actively trading today include Trina Solar (TSL Quote), A-Power (APWR Quote), GT Solar (SOLR Quote), Excel Maritime (EXM Quote) and Eagle Bulk Shipping (EGLE Quote).

Recent IPO Changyou.com (CYOU Quote) has been extremely active lately, and I've been trading it aggressively. Another recent IPO on my radar screen is Rosetta Stone (RST Quote), but that hasn't caught much attention yet. Quite often a theme like IPOs will spill over, so I'm watching to see if that may happen.

I'm also putting on some ProShares UltraShort Russell2000 (TWM Quote) as a hedge here. The action is a bit overheated, and I think we'll have at least a little correction intraday.

Long TSL, APWR, SOLR, EXM, EGLE, CYOU, RST and TWM, but I'm actively trading and positions may change at any time.

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