Volume Spike Investor

FUQI International Inc. (NASDAQ: FUQI) is showing why this was the IBD 100 #1 Chart this last weekend.  The Chinese jeweler said that Q2-2009 revenues rose by 50.6% to $100.8 Million as gross margin rose 660 basis points to 17.2%.  Net income rose 86.8% to $9.9 million, or $0.45 EPS.  To add a bit of juice, it raised its full year revenue and net income guidance. At 8:41 AM EST we show a gain of 13% to $27.61 on some 44,000 shares.  As this was the #1 pick from IBD and as this is a 52-week high above the old $25.60 hit this week, we’d look for the 1.6 million share average daily volume to be hit easily this morning and possibly see an exponential volume today. -JON OGG