Lee,
I'll throw my 2 cents worth back after about a 6 week hiatus. I use to post some TA comments regularly about AXC. I trade only using TA. When my TA comments were favorable re:AXC, everything was fine. However, when I noted in late Jan. that long term technicals had broken down & stock was headed to at least 6 1/2 for next support level, I was castigated by those in love with this stock (notice how most people here just hate NORMAN; I find him entertaining). At that time, no one could believe the stock would fall from 8 1/2 to 6 1/2. I had a large long position then & sold 2/3 of it at 8 1/8. I have traded it successfully in the past (three times between 6 1/2 & 8 & three more times between 8 1/2 & 10).
Although most long and short term technicals still remain negative, there is very strong support between 6-6 1/2. I repurchased a part of what I sold end of Jan on Tues. at 6 1/2 only because of chart pattern. I expect stock to now trade in range from 6 to 8 1/2. I have a sell now on my tradable shares at 7 3/4. If it drops below 6, I'm out. Long term technicals will not turn positive until stock decisively breaks above 8 1/2. This I do not see happenning unless a very strong catalyst happens (some fantastic news). Since this is possible but IMO not as certain as everyone else on this tread thinks except NORMAN, it's the only reason I haven't shorted stock. I feel stock likely to trade in this 6 - 8 1/2 range for long time.
Regarding fundamentals, I look to this thread for help. However I am beginning to lose patience with KM potential. I will be looking closely at next 10Q. I worked in computer business for 25 years and the longer things take to happen, the less likely they will. IMO, the current fixed disk technology will not be aroung in 5 years.
AXC has a warehouse of patents but haven't done anything with them in 50 years. A more likely catalyst for a successful conclusion of AXC is someone with big pockets will take them, Bransom, & their patents out.
AE |
