Armanino, another sign of strength

Today's trading in Armanino Foods of Distinction (symbol AMNF) reveals that the stock is very strong at the moment. From the size and direction of today's trades, it is clear that the company has not bought back any stock in the market today. The largest trades were sales, so they were obviously not purchases by the company. The buys seem too small and spread out to be part of the buy back. Of course, the important point in all this is that at 3:51 P.M., the stock remains unchanged for the day. That is particularly impressive since the stock is up 17 % since the special dividend and stock repurchase plan were announced after the close last Thursday. Normally, one would expect profit taking to have hit the stock by now. Clearly, however, the holders are in no rush to cash out of this gem. This is a very good sign; moving forward, there may be some down days, but the ownership community is strong with this one and that means a further up trend for a while.