Code B means I will be purchasing more stock starting July 4th,with the quantity undeterminable at this time. (20-23cts area).
Other info relates to a long term outlook, pending until more public info. is released and some other factors.
Although I don't analyze a stock by the "picture" a graph shows, I am seeing what appears, to me, a triple bottom formation-which is good and could signal higher prices in the future. William O'Neil page 163 1st ed. mentions such. He also shows examples in his book. View graphs pgs 136-146 looking for the graphs with bottom formations.
GXM in latter half of 1999 did not challenge the 20ct level. Then in Feb-Mar. 2000 a strong runup occurred which Williams deems necesssary with all such formations. Now the stock has touched 20cts 3 times on a weekly bar chart-thus a triple bottom. 20ct support level is clearly higher than what was the case in 1999. Thus a person could buy on this info. although most would like more info. from the company.
Going to investcom.com site, clicking on CDNX market depth and then on "GXM" on top of Co. info, then pull down memu find insider trading, financings and so forth. We see a recent financing, with all participants listed.
However, with no public news release due for a while, the abovementioned pattern, remains a curiousity. To successfully complete the pattern will require a large weekly volume with a significant upward breakout in prices according to O'Neil. If not, I would not worry, as could be a second signal well ahead of the action. The first technical signal occurred before prices rose in Feb., evidence which can be proven by myself if anyone wishes.
As I mentioned in other posts, short-term predictions are getting better but longer-term are still giving me trouble. I am now focusing on both weekly and monthly charts. |
