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Cyanotech Corp. Message Board

  • alexalekhine alexalekhine Apr 6, 2010 11:40 AM Flag

    Added a Piece this morning

    I added a piece this morning, increasing my position by about 30% in size. The new position size is about half its peak level of last Fall.

    The first reason for my trade is technical: my buy point was just slightly above the 200 day moving average. I am looking potentially for a ST rally of 5-8% that will allow me to sell a portion of the new purchase while holding on to a sliver of it, thereby having slightly increased my core position at a low cost. The second reason for the trade is that I expect a strategy of buying on weakness combined with the company's apparent existing business momentum will generate a relief rally after the March quarter earnings come out. Unfortunately that will not be until late in June, still about 11-12 weeks away.

    I don;t expect to hear any news from the company between now and then except for NASDAQ's acquiescence to an extension in response to the company presenting them with a serch firm contract to get a new CEO and Director. That also could be a minor catalyst.

    aa

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CYAN
4.770.00(0.00%)Jul 28 3:59 PMEDT

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