AK Steel (AKS)

[captainssbn]

Friday I watched AKS reach a new bottom of $4.05. It tried to turn around after that point. What was interesting was the trading volume remained steady in millions of shares but NOONE would sell below the $4.05 level only those who wanted to sell above that existed so up it went it had no choice. To me this indicates that the stock has reached a bottom. the stock then turned around and went up to $4.30. Volume still stayed in the millions till close at $4.22. Here again it did not go down NOONE would sell below $4.22. NEW PLAYERS now own it. If you look at the chart the CROSS symbol has now occurred which is also a reversal indicator at almost all tops and bottoms. Follow the chart pattern candlestick view and you'll see that the CROSS symbol always indicates a reversal. Some of the reversals are small but it is a good indicator. this maybe a small reversal for AKS Keep an eye on it. My goal in the market is to take nickels or dimes out of the market per trade by buying 1000 to 2000 shares at a time with an immediate sell at either $.05 or $.10 above the fill. I'll be doing this when I see the CROSS symbol occur. The company did buy another company for $6.8 million and showed a loss $5.8 mil?? due to debt refinance and this purchase. The stock really didn't deserve to lose 30% of its value, panic was created by the MM market maker for this stock. which generated lots of selloff.