Stocks On The Move - November 8

Stocks Rise on Heavy Volumn:

• Transmeridian Exploration Inc.(TMY): shares of Houston based oil and natural gas company soared 20.56% to $2.99 per share despite posting a wider loss for the third quarter. The technical chart shows the stock is in a very weak market with 50 day moving average below 200 day moving average. The surge today probably is because ROC is showing the stock is oversold. The stock was the second leading gainer on Nasdaq today with 4.8 million shares traded.

Stock Drop on Heavy Volumn:

• True Religion Apparel Inc. (TRLG): shares of Los Angeles based denim jeans maker plunged 27.28% to $15.46 per share after the company reported earning below Wall Street estimation. With ROC now showing the stock is oversold the stock has chance to bounce back. The stock was the worst performer on NYSE today with 5.16 million shares traded.
• Scottish Re Group Ltd. (SCT): the Bermuda based life insurance company tumbled 15.23% to $9.07 per share after Scor Management pulled away from acquiring the company. The stock is back to weak market again with K line dropping below D line. The stock was the second leading decliner on NYSE today with 9.28 million shares traded.