It sure looks tempting to buy and/or add right here. Interactive Brokers has a short sale restriction in place and the high volume leads me to think the shorts should be closing this one out soon. No definite entry is apparent, but the odds are in the favor of Longs right now on this high volume/ oversold position. JMO.
Little downside risk from here, the way I see it, JMO...
ABX acting like it should today, closing on the HOD. Gap just closed a little bit more.
...on 04/12/13. Looking good for short term Longs to play for a nice trade for about a 20% profit goal.
It should get there without too much trouble, and remember to re-evaluate once the gap is filled. JMO, but that's how I'm playing it for now.
...according to Yahoo Stats. Could be a good sign for Longs in the next month or so. It only means that a move to new 52wk highs will come that much faster. Good new by the company will create a nice squeeze. I'm guessing they put on the new short positions since the divi was recently paid out. History suggests that they will be losers, and MO should see a new 52 wk. high pretty soon. JMO.
It's just one man's opinion, but he always said, "SELL EUPHORIA and BUY PANIC"
Take it for whatever it's worth to you. I'm opening a small Long position now, looking for a swing trade.
Sorry, but this is no P & D. Today's volume brought the share price over a buck for the first time since last spring, when it was in a descending pattern, that has worn itself out. A slow, but upward reversal to the upside is now playing out.
Somebody wants them in a serious way, based on trading volume today. The 22 day avg. volume is about 810,000 shares, and with a little over a half hour to go in the regular session, EXM has traded over 4,100,000 shares. Very unusual with a 20% gain so far. No apparent news is out there that I can see, and with a down day in the market, you just gotta wonder what sparked this upward move. I it can get over a buck, there could be a great reversal starting to happen.