Icahn At It Again In Disney?

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

'' Walt Disney DIS shares are trading higher by $1.11 at $110.11 in Friday's session. As if this issue needs an excuse to rally, since it has rallied from its February 2 close to $109 as of Thursday's close, the rumor mill is fueling today's rally to north of $110. Today's rumor is that none other, the King of Wall Street, Carl Icahn, may be taking a stake and in his usual manner, pushing the company to spin off its highly profitable cable assets. So far the issue has made a new all time high at $110.48. Based on its nine day average trading range of $1.44 a projected target for the issue based on its $109.19 low would come in at $110.63. Of course, when there is rumors that Uncle Carl is kicking the tires in an issue, there is no telling where an issue may go. .Today's rally is taking place on higher than its 20 day average volume of 4.7M shares as it has already traded 2.4M shares with nearly four hours left in the trading session.