"Something in your post is getting my interest"
Hi Sue,
I'm a cautious investor as your self. I started playing
penny stocks back in 1981. I have since moved into the
big stocks and daytrade them with 100% cash at the end of the
day.
Once in awhile I bring some of my money down into a penny stock,
only after my own DD. AXGI is the only one I've bought this year.
I purchased it for the short term on the following basis:
it is a profitable company, it has several products that ordinary
consumers are now using, and the management has vision. Most importantly is that it is undervalued and has impending news that
will account for $$$$$$$ 1/2 of its $24 million in sales for '98 $$$$$ I couldn't pass this up so I recently made a purchase. What's fun about OTC/BB stocks is that management can tell you about future plans. They have told me their news will come out on the Business Wire.
One announcement will come before Christmas, and the other
will occur sometime in January. Current Ask price is 41 cents.
I can only speculate as to the price in a month. If the
second annoucement occurs before then, the stock will be around
90 cents. If the second announcement hasn't occurred, it will
be trading around 60 - 75 cents.
As word gets out on the impending revenue generating news, others will stockpile as well, awaiting for the announcements and run ups. But lets not stop there, AXGI has a lot of money and as a Holding Company for many small companies, has the capital to continue its acquisition agenda throughout 1998 and beyond. That aside, I keep to my trading
style and sell soon after a runup, and buy back in after it settles down into support, awaiting another news release. Trading is much
more profitable than buy/hold.
100% return? I hope so and more! Resistance is at 60 cents.
After it passes that, it will spike to around 90 cents IMO.
I encourage everyone to do their own DD. I'm not responsible for your investment decisions, only mine. Good luck!
S.W. |
