Hi James, Let me see if I can add 1-1/2 cents worth of an answer to some of your questions and perhaps pose a couple of my own for you and the rest of us ("impatient") long-on-AXC-ers...
First, I wouldn't exactly call the TA charts from earlier this week "extremely bullish". About a week ago, AXC began a basing out, which is pretty obvious - TA or not. But, of significance then was that the TA indicators were supporting a <mild> turn to the upside. A longer-term base - IMO, about 10 trading days or so -- or longer, would begin indicating a stronger bullish situation. So, in short, the basing and corresponding TA indicators indicated a MILD bullish condition. Keep in mind (IMO) that the basing can, of course, incur some fluctuations, perhaps even down as low as 6 or so or as high as 7. Over a period of time, a base becomes somewhat synonomous with a tight (and non-declining) trading range. All of this is, indeed, my opinion, and subject to outright "refutement" from fellow TA'ers here (which I welcome, of course...). On the brighter side, it appears that the "larger" investors still don't know what to do with AXC: buy or sell - they are waiting for positive news. Last Fall, AXC was in the same predicament before it broke decidely upward on the 11/22 news from the investment houses. So, this leads me to my...
Second (point): from the 11/23 letter from Ed Bramson: "By the time the annual report becomes available, I expect to have additional developments to report on and I look forward to providing more information at that time." Hmmmmmmmmm!?!?? No news yet, albeit, from Karen, no news doesn't [necessarily] mean bad news. Also, although I agree with your surmisings from the 10K, the 10K appeared to me to be decidely more cautious and loaded with caveats -- more than I've seen before. Am I the only one who feels this way? All former communications seemed to be at least somewhat more definite -- this one is largely a "don't expect much..."
Since we haven't heard from Ed Bramson and there won't be any news on 3/26 in SFO at the investors' two-day'er, I wonder if they really are having some major technical or other (business) problems?? Any thoughts?
Sorry that this rambling post is long - hope it makes sense to you.
Best regards - Ron M. |
