Wednesday, November 28, 2007

APX at its Apex?

Today, I sold all my holdings in PA despite the fact it opened higher at .225 (from close of .220) and even closed higher at .230. Despite taking a minimal amount of loss, this allows me to protect my previous trading gains on this issue.


PA continues to trade sideways and is just at the tip of the symmetrical triangle. However, volume I believe remains to be low and decreasing. I wonder if it could attract at least 1B shares to support a breakout. But if it does happen, I'll be there to pounce on it. I'll stay liquid for the moment.


Today, I was tempted to buy a few board lot of a mining issue, APX. It hit a 52 week high today at 7.20 before closing at 6.70. Looking at the chart, it looks like it has formed broken the resistance line. I just don't know if the last 2 day's volume is enough to hold this trend. MACD however, shows a bullish trend as well.

"Good luck to me on this issue."

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