HOW TO MAKE $7.56 PER SHARE ON A $4.75 STOCK
My stock pick is Galaxy Enterprises (GLXY), an OTC BB stock that is in the process of converting to a NASDAQ Small Cap issue, and the 1/15/99 price closed at $4.75 per share.
I follow this stock closely and use TA to trade this issue. Go to BigCharts, bigcharts.com, and enter the symbol GLXY, and click on Interactive charts.
Enter the settings for your interactive chart: Time, 3 months; Period, Daily; Indicators, SMA 2, Bollinger Bands, Volume & Slow Stochastics. Chart type should be HLC, and the chart size large.
I have used BigCharts TA features to buy and sell GLXY three times since 11/25/98. My last trade was sold 1/11/99. My first trade 11/15/98, I purchased 200 shares for $2.25 and sold them four days later for 8.00 per share. My second trade was for four hundred shares, 200 purchased for $6.75, and 200 purchased for $3.625, and four days after the purchase of the $3.625 shares I sold 400 shares for $7.50. My last trade was 1/4/99 to 1/11/99 and I purchased 800 shares for $6.50 and sold them for $6.50 on 1/11/99.
To recap, I have three times in less than two months, bought an average of 466 shares of GLXY and made total net profits of $3,531.
My personal investment account has appreciated 200% in this time period, as I am a small investor. My account is appreciating 1,200% on an annualized basis.
GLXY shares trade very well using basic TA, i.e., their shares rise in price on an increasing (accelerating) number of shares traded, and the price of the shares decline on a declining number of shares traded.
Each of my three trades (six buy and sell decisions) were confirmed by price action, volume of shares traded, and slow stochastics. Go to BigCharts URL above and try it yourself.
I am on target to make $21,000 in just 12 months trading GLXY shares alone.
The 52 week price range for GLXY shares is, $0.56-$10.50, with the high coming in November, 1998.
GLXY is a profitable Internet company and the fundamentals are very attractive. Even though I trade the stock on TA does not mean that I don't care about the fundamentals of a given stock.
Roger Staubus, CPA
galaxymall.com |
