My pick is Galaxy Enterprises (GLXY), and 1/15/99 price close was $4.50. The 52-week range is $0.56-$10.00. It is an OTC BB stock, with a 1.6 million share float.
I want to share how in less than two months (11/25/98 to 1/11/99), I made $7.56 a share profits on a $4.75 stock.
I follow this stock very closely, and use TA to trade GLXY shares. Go to BigCharts, bigcharts.com, and enter the symbol GLXY, and click on Interactive charts.
You have to enter the settings for your Interactive chart. Use the following:
Time, 3 months
Period, Daily
Indicators
* SMA 2
* Bollinger Bands
* Volume (Note: Volume and Stochastics are on the same menu)
* Slow Stochastics
Chart Type, HLC
Chart Size, Large
Since I want to see a 3 month chart showing price action (HLC, with Bollinger Bands and SMA 2)on top, Slow Stochastics in the middle section, and Volume of shares traded on the bottom, I have to prepare two charts, print them, and cut the volume out on one and tape it to the bottom of the other one to get all on one page because of the note above.
Now you have a picture, and a picture is worth a thousand words to a TA trader, and in my case, this picture produced 200% profits in my personal investment account in less than two months, and is on target to produce 1200% profits for a 12 month period beginning 11/25/98.
My first trade was 11/25/98 bot 200 shares at $2.25 per share, and four days later sold those shares for $8.00 per share. My second trade was two purchases, one bot 200 shares at $6.75, and second bot another 200 shares at $3.625 on 12/09/98, and sold those 400 shares on 12/11/98 for $7.50 per share. My third trade bot 800 shares on 1/4/99 for $4.50 per share, sold those shares 1/11/99 for $6.50 per share. My trading profits were $3,531 for less than two months and I am on target to earn over $21,000 over a 12 month time period.
All my trades (3 buys and 3 sells) were confirmed by basic TA considerations. GLXY shares are very TA positive. By this I mean that GLXY shares rise in price on increasing (accelerating) number of shares traded, and when the price declines, the volume of shares trade declines. All my purchases and sales were confirmed by price action, volume of shares traded, and Stochastic measurements.
Bollinger Bands and Stochastics are excellent indicators which tell an individual investor when a stock is overbought (price too high) or when the stock is oversold (price too low).
By preparing a 3 month BigChart interactive chart, using the settings specified above, you will be able to confirm this with a very clear picture.
Even though I am a TA trader, I still believe fundamental analysis is also important, and the fundamentals for Galaxy Enterprises (GLXY) are positive, that is, the company is earning profits, which is something that most Internet stocks do not do (earn profits).
It is my projection that sometime in 1999, GLXY shares will sell for $20 a share.
Oh, by the way I forgot to mention, this methodology of TA stock trading profits will work on any stock, not just GLXY shares.
Happy Stock Trading, and may your Profits explode!
Roger Staubus, CPA
galaxymall.com |
