Today's Recap

Its interesting the amount of speculation that drives these stocks. On yesterdays "Mad Money' show, Cramer insisted a strong buy on MGP Ingredients (MGPI). Today MGPI went up 13.82%, the most from any ethanol stock. Its volume also was ten times higher than its average today (3,463,819 compared to Avg Vol of 327,905). What was the reason? Cramers mouth.

Todays Chart of MGPI:

Overall it was an excellent day for ethanol stocks, as they helped drive Dow to its six year high ( ADM played a large role in this as it raised its 52 week high to 41.90, with an increase of 10.26 percent today. The reason for this? ADM had impressive 3Q results. Pacific Ethanol also raised its 52 week high to 36.94, increasing 8.65 percent today. The reason? no reason. This shows how speculation is riding strong in this sector, as PEIX went nearly the same amount as ADM, but didn't have exceptional 3Q results to boast about. The question is how long will this last?

 Lets see how my overall ethanol index performed today:
SymbolLast TradeChangeVolumeMkt Cap
Get a snapshot of today's market action in Market Overview


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