Back a few weeks ago we posted some names that had "gaps" to fill in their charts (
Jun 22: Gaps Filling and To Be Filled?) - James River Coal (JRCC) has filled its gaps, and we also listed Research in Motion (RIMM) and A-Power Energy (APWR) - here are updates on their progress; both of these of course would require a swan dive.
I found a few more as I scan charts - some in much more reasonable ranges; frankly there are quite a few out there since we had so many pre market "futures happy" purchase programs in April especially ... if you have any please let me know in comments and I'll add it to this chart (no penny stocks or sub $5 type of stuff) I actually want to be long some of these names at the bottom of their "gaps" if and when they get filled.
Sterlite Industries (SLT) - gaps all over the place, definitely a huge one in mid $9s and potentially a small one below $9
Starent Networks (STAR) - below $20, due to this gap I have cut back the position over time
HDFC Bank (HDB) - basically we have a 0.1% stake here; I almost shorted this Thursday, big gap down there at $80
Woodword Governor (WGOV) - readers pointed this one out, it broke below the 200 day this morning and has a nice one to fill at mid $15s
For those not familiar with "gap theory" it simply says that eventually all gaps are filled; I'd say from my experience this is true 98% of the time (with the caveat that some take years to fill, and we've been in a 10 year primary bear market!)
Long James River Coal, HDFC Bank, Starent Networks in fund; no personal position