Over the Counter

After leaving the house before the markets opened this morning to attend the 112th US Open, I was not able to participate in regular trading hours. I had a blast at the Open thanks to my good friend Jon Kretchmer. It was my first time attending a pro golf event, and the highlight was seeing Tiger Woods play the back 9 of the Olympic Club in San Francisco. His talent is awe-inspiring and it was even more amazing seeing the 500+ people following him around on a quiet Monday of practice.

Returning home, I grabbed the mail and checked the markets. One of my routines is looking at the stocks that are down with the biggest percentage. A couple caught my eye, but the biggest loser was EnergySolutions, Inc. (ES), which was down $1.62 and more than 54% on a volume of almost 36 times its 3 month average. I think that it might be a good stock to buy because it is potentially oversold, so I put in my first after-hours trade with Merrill Lynch. I'm betting that it is in fact oversold and will rebound when trading resumes tomorrow morning.