Today's action Today’s activity……. a classic “buy on rumor and sell on news” by day traders expecting the gap to be closed. But those drill results were stellar and it confirms my hunch (even in this horrible oil market) that I’ve hooked a whale. As it plummeted into the high 90’s late morning a lot of somebodies came out to buy.
I was a buyer of LXE in the December market swoon but lost my nerve in the miserable January continuation, - thinking, that just maybe, I had lost my mind. Fortunately, I did not sell my December purchases.
I also like the chart. It may not be a perfect “W,” but then again, try and find the perfect snowflake. Obviously it’s not yet time to count shekels. Like the Robert Frost poem, there may be miles to go. But I like my chances, -and things are startin’ to heat up. And poor little LXE, -surrounded by cannons on the left (ARC) and cannons on the right (TOU). Hmmm…..
GLTA