Poseidon Concepts beat earnings handsomely this week and raised their guidance for FY 2012. This management team has a history of under promising and over delivering. I expect that trend to continue. As you can see the stock had been hit pretty hard over the previous 2.5 months but had been showing signs of slowing downside momentum coming into the earnings announcement as displayed by the positive divergences on the RSI and MACD. Congrats to all those who bought the dip.
News Release Here
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