Just some trivia on "Friday" activity (July-August '09):
9 Fridays...2 Closed Higher...1 Was Unchanged...6 Closed Lower...ALL the August Fridays closed lower.
9 Fridays...5 Had More Volume than the Thursday Prior...4 Had Less Volume...August 14th,the day earnings were reported, Volume was up 1.56 million shares from Thursday and the price dropped $.19. Even barring that Friday because of the announcement, most Fridays trail down.
This stock is so tightly held, any large move creates big swings. The MM love the volatility. Hang tough for the long term. One or two more timely quarters of growing revenue and modest profits will start to turn some heads IMO.
We also closed last Friday around 1.80 and it would be nice to stay above that and keep some/most of yesterdays gains. So far, so good on holding the 1.70/1.80 base, but September is a VERY long month.
Just my 1 1/2 cents, but we could get there. There is a 6 week support level in the 1.65/75 range which is what I am watching. I bot a little here. But several things are beginning to add up.
1) September (yes it's already here) and October are traditionally tough (read down) markets in the U.S. 2) JADE can't seem to find a green day, even a penny on a day when the market in general is good 3) JADE volume is beginning to dry as suspected, and with no news, earnings etc. expected for a bit, and China slowing, my GUESS is that we could take that next leg down to that area. Keep some powder dry just in case. 4) If we don't hold $1.60, it will be swift a swift drop another 30/40 cents to the 1.35 level. Although the sellers are diminishing, they still outnumber the buyers. :(
Have a great week all..
Life is what you make of it, surround yourself with love, & money will become what it should be, a meaningless way of keeping score.