Quietly we move slightly higher with fair regularity. This ought to calm an investor's nerves somewhat, I should think.
Today's trading was interesting as it shot up in early trading and never looked back until we hit the NYC lunch hour spanning from about 12:30 to 2:30 eastern time. I know from former brokers that the NYC style is to drink your way through the two hour break from work-day pressures. That should explain the slower trading and pricing decay we see all the time. Things pick up when we're about a half hour from the session's close.
At this moment there's about ten minutes left to the trading day. ALDW stands at $8.85. It's anybody's guess as to where it will close but I doubt it will retrace all the way back to yesterday's closing tick. Our high of today was $9.04. Frankly, I'd be happy to see a close above the previous close but it's falling away too quickly to support a nice gain.
So now we look forward and what I'm seeing is that investors want to see units of ALDW trading at above $9. It may take a day or two more to close there but I think it will, certainly within a week.
Don't base your expectations on my wishful thinking as I can be wrong. I'm merely sharing my thoughts here in the hopes it will be of service to some. Interestingly, units were at $8.79 but a moment or two later the price is heading back up a bit. And now, a minute or two later, we're at $8.85. Odd, but I'll take it.
Good fortune!
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Post mortem: We closed at $8.70 for an overall gain of a nickel. It isn't much but it sure beats standing still or, worse, a loss.
At this moment I would like for us to close at anything above $8.73 as that's my cost basis. And then we build higher ground.
As the song goes, "Tomorrow, tomorrow....."
