Once again the DOW goes up! For the sixth straight day since the shake out day last Monday which fooled many investors including the editors of Investor's Business Daily when they switched to 'Market in Correction'.
One stock I noticed at the end of the day was Vonage Holdings. Now this stock is the classic stock of a company you don't want to own. They entered the VoIP (Voice Over Internet Protocol) craze at the end of the cycle offering free long distance AFTER the cell phone companies had already offered the same. They charge for phone service at the same rate most cable companies do. Although, many folks feel the cable company is evil, who would you rather carry your phone service, the cable company down the street or some company you never heard of across the nation... Hmm, that's a easy choice.
Excellent article on Vonage at: http://bit.ly/eC4op
Their stock rose 6 fold today on very little news. I wouldn't be surprised if the SEC puts a trading halt on the stock tomorrow demanding more information for the abnormal trading. The stock has been a disaster since the first day they started trading and is the only stock I've ever seen Jim Cramer literally 'dog out', but rightly so. How does a company offering it's product for free, the international calling plan, warrant an increase in share price. That makes about as much sense as borrowing your way out of debt.