Monday, January 5, 2009

American Capital - Performed Better Than Expected

American Capital (Nasdaq: ACAS) blew by the resistance at $4.00 reaching an intraday high of $5.39 and closing Monday's session at $5.20. American Capital closed up 73% from when the stock was recommended and up 88% from the 52-week low. Yesterday's chart setup looked great and ACAS performed even better than expected. Tomorrow, American Capital will likely open the session bullish, but given all of the bad economic news expected this week, I would recommend thinking hard about an exit point.

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