Daily Stock Pick of the Day - Mon, Tue Sept 20 & 21

Stocks rallied again today and popped through their current trading ranges to hit a four-month high a day before the FOMC meets.  The Dow rose 145 points, or 1.4 percent, to close at 10,753.  The S&P rose 17 points, or 1.5 percent, to close at 1,142, breaking through the crucial 1130 barrier that has put a lid on the index's highs since flash-crash May.  The Nasdaq rose 40 points, or 1.7 percent, to close at 2,355.

Many Dow components were higher, led by banks like American Express (AXP) which closed at 43.12, a gain of  4.2%, and JP Morgan (JPM) closed at 41.19, up 2.8%.   Consumer discretionary and energy also rose.

The stock I'm looking at today is ViroPharma (VPHM).  They develop and commercialize products that address serious diseases.  Their specific focus is on products used by specialists or in hospital settings.  It shot up 7% today on big volume and closed at $14.81.  With the recent rally now in play, this stock could make a run to the $15.50 - 16.50 range before it's over.  It might be a good idea to scale in a position -- maybe buying some on a pull back on/around the low $14 range and then keep the other half of your trading dollars to allocate shares around $14.45 or so. 

Stay cautious and happy trading! 
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Obligatory disclaimer: This blog is for information only.  Past results do not guarantee future performance. All financial decisions involve risk and there are no guarantees.  The suggestions above are for informational purposes only and the blogger is not liable for any losses incurred as a result of actual investment activity on the part of the reader.