Before I forget, I want to remind you about the Spicy Pickle’s (OTCBB: SPKL) web video available simply by clicking the nearby image. From the feedback we’ve gotten so far, the short video has been very helpful for investors, adding any remaining details we couldn’t get to in Saturday’s profile. Remember, it’s only a small investment of your time (the video is less than 10 minutes long), but could be one of the best investments you make all year. Anyway, here we are – two days after we launched our coverage. In a nutshell, SPKL is off to a great start.
When I saw the stock gap higher on Monday morning, I wasn’t sure what to think. I don’t mind gaps…I don’t particularly want them, but I don’t mind them. My worry was whether or not SPKL was going to take off and instantaneously be out of reach for anybody who wanted in. Fortunately, the stock found a comfort level between 75 and 85 cents on Monday, and that range was even smaller (and more bullish) on Tuesday, and it seems as if there’s some support around 75 cents.
I have to say I’m fairly impressed. With Monday’s big move higher, I’m sure it was tempting for all those owners who bought shares at 50 cents (or even less than that) to go ahead and lock in a big gain, which would have driven the chart much lower. They didn’t though. In fact, we saw a few more buyers pile in today..even more than with Friday’s big rally. The stock closed out the trading session slightly higher than yesterday.
I’d like to see a higher high sometime this week to really add some solidity to the stock’s recent run. All things considered though, investors seem quite OK with the big jump so far. As far as the gap is concerned, if it does indeed get closed, I view that as another entry opportunity. At this point, however, I wouldn’t be shocked if it never got closed.