MXT has had a good run! Unfortunately, the condition is overbought and with the War taking even longer the stock could stink back under $2. Of course, long term this company will due well. Remember, BULLs and Bears make money but PIGS get slaughter. I did take some profit at these levels with some of my shares. Will buy back if it goes below $2. There is no reason for MXT to break 2.50 resistance at this point. Showing alot of improvement but nothing that would prompted the shorts to cover in a panic IMHO. $5 will happen this year but not in the near furture. PEACE\/
Why because you say so! Explain the reason why it went up again...NO Reason....exactly! Too many people in love with this stock and acting on emotions. When it was at 1.25 how many people call this company a POS. I was buying it because it has solid fundamentals. Now, it time to takes some profits and people with 90% returns are holding and will ride it down. Big mistake! Don't get me wrong I always hold a position but will reduce when making a good return. If you say it won't happen then...most of the time it does. Learn the hard way like most people. I have been there and done that!
I have to agree with your taking profits strategy. ALWYS take profits. I do not however agree with your prediction of a retracement to below $2.
A break below $2 would be a sign of SERIOUS weakness. Almost paniced today when we briefly broke through it, but to bounce back with this much strength on a -300 dow day and less then a week since we doubled in price. Mxt is showing alot of strentgh and will trend upwards IMO.
The news on Second Curve Capital ownership seems to be the reason for some shorts to cover hence driving price up. As much as I would enjoy seeing MXT jump to $3 this week there is still too much uncertainies (BK Bill, WAR, Market conditions, Consumer Spending, Etc) that will prevent this from reaching that level. The volume has gone down since it recent high and decreases each day. Yes, it remains above the average but with no other news expected there is no reason for it to stay up or down. Bottom-line MXT has not set a new trading level which put more risk to the downside. Time will tell! Either way I am in a win win situation.