EA:
Your wife is correct... More buyers than sellers... : >
I agree that we need more than lip service this time around... This rise above 1.00 today on light volume continues to suggest that one or a few buyers are accumulating in small chunks... Because there is light overall volume these chunks of buys are coming out of someone's inventory... That further suggests that the average GMGC investor is not selling... So, even in a light volume situation, the supply/demand forces are at work... Just like the overall market has a lack of buyers, GMGC has a lack of sellers...
On the 6 month chart GMGC continues to move above its 13 day MA...
stockcharts.com
The 60 minute (one week) chart shows dramatically improving MoneyFlow from deeply negative to a hair's breath away from going positive... Williams %R, Aroon, ADX, MACD, are all positive...
stockcharts.com[m,a]eaclyymy[pc13!d20,2][vc60][iUa12,26,9!Lc20!Lk14!Lw25!Ll14]
While we don't know the details, the upward price movement is suggesting that either someone or a group of people know something or think they know something, and are willing to pay higher prices to get more shares... That's the beauty of looking at the charts... You see signals of buying or selling before the news is out...
I agree that the IBM/GM connections could be a major factor... It could also be that they may announce revenue generating licensing deals with multi year income streams... Let's see... The charts are whispering... : >
Jim |
