Roger:
Well, today I backed up what I wrote with some chips that I had hidden under the kitchen sink. I bought 10,000 shares of NMPS at the open at $13.25. As I told you before, I am not interested in what they have. Whatever widget that they plan to sell is ALREADY reflected in today's price. You see, Roger. I abhor reading fundamental stuff which has neither sex nor violence. What drives to into the market is pure technical analysis. If the price and volume actions are favorable, I jump in. It is as simple as that. On other hand, if price and volume erode, I won't hesitate to bail out. I believe that marrying to a stock is a dangerous proposition, and can lead to financial impotent.
Today's price and volume actions are terrific. I saw concentrate accumulations at 10:15 am (120,000 shares at $14), at 3:10 pm (125,000 shares at $13.875) and again at 3:45 pm (50,000 shares at $14). For a total daily volume of only 891,200, these activities, confounded in such a tight time window, spelled technical strength and conviction. This momentum should allow NMPS to recover some lost ground tomorrow. But then, I am no fortune teller. I'll let the price and volume actions tell me if I am reading the tea leaves correctly.
I just love tea leaves and fortune cookies.
Best wishes. |
