Cisco,
Thanks for the information on Innovative Optics, Inc. and LCA- Vision. Sounds good for the future of LCAV.
There hasn't been any meaningful trading activity in LCAV, therefore I haven't had much to write about on this issue. I continue to monitor the LCAV and will alert the thread when I get a buy signal.
As to the current technical picture, all momentum (MM) indicators are in a negative trend sell or neutral condition; OBV and RSI neutral. This stock must get above 2.875, 3.375, and 3.626 in consecutive with increased volume order to show any upside potential for a breakout.
What I would look for as a sign to buy this stock, would be: (1) Higher highs and lows with increasing volume, and the 8 day weighted moving average (WMA) moving up through the 21 day WMA; (2) The price must eventually move above $4.00/share to establish a positive trend.
As I have stated in my weekly market advisories, now is not the time to take new positions in the stock market. The Dow has recovered from its October lows, but other than the high priced "blue chip" issues, the small cap stocks have not shown their year end upside moves. The market at this juncture lacks leadership, and that's not good for the long term prospects of this aging bull market. So until I see evidence to the contrary, I believe the stock market is in the process of topping out. Consequently, I am not taking any long term positions in the market.
Thank again for the reports.
Harry |
