Good luck! GOL bounces back and forth between 28 and 31. I just use it as a trading vehicle. Someday it's bound to break out (one way or the other), but in the meantime I'm having fun. I just hope the breakout is on the up side so I don't get stuck. I figure that if I can make 5% a month, that works out to about 60% a year.
Well it hit 31 today so we will see if your right. The main reason I purchased is the 5o dma has dropped below the top of the trading range and is turning positive. In the past when this occurs, stocks that are significantly below thier 52 week high (I look for at least 20%) and have a bottom of their trading range around the 52 week low tend to break out to the positive side. I apply this stregry to stocks with reasonable PE (between 5 and 20) and decent PEG ratios (less than 1).
So far I am 3 for 5 with this strategy making significant gains with the winners and breaking even with the losers