Hugh,
Can you provide us with an update on the institutional ownership as of close of Friday? I noticed several large blocks are trading...perhaps the institional buyers have perked up..with the lawsuit announcement? Is so, this could be the motivation we have needed.
As for TA; AXC crossed the 50 day moving average for the fist time in..(dont remember it was soooo long ago). Using a 20 day average on a Bollinger Band chart, a breakout was established on Thursday. Reletive Strength (RSI) finally showed an upturn on Thursday as well. These two charts combined generally would indicate a upward momentum in the stock. (See some of my previuos posts re garding Bollinger Bands and RSI).
Recommendation: buy on dips, I hope that a basing will now be at 6 1/4 to 6 3/8 with upward movement. Again, this stock trades on news, and it has been very positive, with hopefully more positive news to come!
As for my posted IBM news, still have not heard anything to change that opinion. I see others are posting a similar notice. Please advise where the info is coming from. Again if this happend (KM and IBM) and additional monies are recieved from the lawsuits...hang on!
As for the award, since AXC took a charge in the third quarter for the legal fees with the pending lawsuit (as I understand), by adding this award back into that 3rd qtr report...I beleive AXC quarterly earning would surpass or be at nearly a 100% increase for that qtr!
I repeat: NEARLY A 100% INCREASE FOR THAT QTR!!! If this doesnt make the profit hungry analysts happy nothing will! The news must be touted that this company is on a roll, with more and better things to come! Even with a "flat" 4th quarter, this award should show up in the 2nd qtr with a nice rise for the qtr. Thus the company will have at least 3 qtrs that have met or will exceed expectations!
Feeling better each day. Btw...Keep checking the insider trading..*grin*..if Bramson et. al. get active, you can bet qtr reports are gonna be good!
As always, best of luck,
$Bill |
