Wednesday, June 29, 2011

Trading Alert for 6/30/2011

$AXAS - symbol to trade tomorrow morning. There is a lot of positive buzz around $AXAS. They provided postive operational update and stock has a high number of "Buy" ratings, which doesn't mean a lot, in my opinion, but when too many traders and "analysts" talk about it we have a self-fulfilling prophecy effect. I like the chart and a very high relative trading volume today. Price is still relatively low. Traders kept buying it whole day and didn't dump it at close. All these positive signs support an idea of continuation tomorrow morning. I am long $AXAS for a quick pennystocks100 trade.

Backtested Symbol: $AXAS
Strategy: Pennystocks100 (5 min chart)
Period: Jun 29, 2010 - Jun 29, 2011

# Win: 0
# Loss: 0
Winners: 0%
Profit-Loss%: +0%

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