Stocks On The Move - July 31

Stocks Rise on Heavy Volumn:

• M Systems Flash Disk Pioneers Ltd. (FLSH): shares of Israel based flash memory maker jumped 13.24% or $4.21 to near 52 weeks high of $36 per share after SanDisk agreed to buy the company $1.56 billion or $36 per share. The stock has already reached the aquisition price so there is no reason to get into this stock unless something happended to the deal. The stock was the eighteenth leading gainer on Nasdaq today with 15.9 million shares traded.
• Arch Coal Inc.(ACI): shares of St. Louis, Missouri based coal mining company surged 9.34% to $37.94 per share after the company elected new board of director. However it is not yet the time to buy the stock as the stock hasn't break the downward trend yet. In fact if the stock goes down again tomorrow it is time to get out as the downtrend will continue. On the other hand, another big surge means the stock has breakout the downtrend and means its time to but the stock. Currently the support is around $30 so whenever the stock dropped back again to suppor it could be the time to buy. The stock was the seventh leading gainer on Nasdaq today with 6.5 million shares traded.

Stock Drop on Heavy Volumn:

• Scottish Re Group Ltd. (SCT): the Bermuda based life insurance company was under servere market bear attack as shares lost 75.06% of the value to record low of $3.99 per share on analyst downgrade after the company issued second quarter earning warning with resignation of the company's president and chief executive. With ROC now also at record low meaning the stock is way oversold and should expect some bounce back. The stock was the worse performer of the day and the third heaviest traded on NYSE with 32 million shares traded.
• Avon Products Inc. (AVP): shares world's leading direct seller of cosmetic product tumbled 11.64% or $3.82 to $28.99 per share after the company announced 54% drop in second quarter profit due to restructuring charges. Since the stock has broken the upward trend which began last November, it may be better to stay away from the stock. The stock was the fifth leading decliner on Nasdaq today with 7.7 million shares traded.