My thoughts - the day and otherwise...
First of all, I would just like to address mike's comments about me and the AKSEF web site. While I may have alluded to it in my post, I never said that I liked the Arakis web site. I'm rather indifferent as a matter of fact. I do, however, appreciate the amount of work and skill that went into it (just because one is ABLE to do something doesn't necessarily mean they SHOULD - in this case they did). My point was simply that Arakis is spending money on an extraneous thing, and quite a bit of it, which Mike never disagreed with. Sorry if I was vague...
Past that, to today's action, which tells me a few things:
1.) There are a lot of people invested in Arakis, but there are many more (and much more money from those who are already in) waiting to get in. The slightest whiff of something happening brings these two groups further in - in todays case, it appears to be those 100,000+ trades which set it of. People very much want to believe that this thing will take off, and have thier fingers close to the trigger at all times. For that reason, I think there is a lot of upside here, and have to agree with Zeev on the 7$ per share, although I don't think we'll see that until later next week/early the week after.
2.) There is very little resistance, and past support/resistance is not very significant either. The key resistance points will come not from the past, but depend on where all those who bouhght betweem 2-4 will sell. in percentage terms, many of them must be close.
3.)Arakis is being given some leeway by the market. For the first time there is tremendous optimism. I feel this way because the stock held it's price well after the 20 Million day and was very eager to run once it broke through resistance at 4 5/16. The question is, when do they have to announce by in order for the preservation of that optimism. I don't think people will last past Dec. 1 without becoming shaky.
From a technical standpoint Arakis still looks healthy, with healthy volume pushing the price up. The reversal 3 days ago, as I posted, was also key to this move. Contrary to what many would like to hear I don't want to see crazy fluctuations in the stock price; rather, a minor correction to clear out the speculators and then further moves based on healthy investors.
Technically, I (and I think all the other technical believers in the group) am very pleased with this past weeks move in every way, and still feel we have a fair to good (1-2+?? more points) without the announcement.
Onward...
C |
