CALI: My pick for Wednesday is APLL
To be clear, I am already holding the stock, and despite this morning's (healthy) shake in Apolo I saw no good reason to surrender my shares held from 18.5 today (Although it sure would have been nice if I could have sold yesterday and grabbed SPAZ when I spotted it at 3:30 p..m at .06 cents, Alas, hindsight, anyway...).
I am basing this pick of APLL on its proximity to a new 52 week high (above .36, which is easily doable in one day of trading), continuing strong volume in APLL, nice performance of gold market right now, and very nice chart/staircase to this point in APLL, which includes excellent action in my pet/favorite element of technical analysis: FLOAT TURNOVER!!!
Check it: 1) from Oct. 27 through Nov. 7 -- nine trading days -- the ENTIRE FLOAT of APLL.OB theoretically changed hands, a total of 30 million shares. 2) Since Nov. 7 and including today's action, 26 million more shares have changed hands... in just six trading days, and we are one day, maybe two, away from another COMPLETE TURNOVER of publicly-available-shares-to-be-traded (i.e. the float) and another resulting surge in price, as I read it, to about the .50 cent range.
Of course, this stock is also a great buy-and-holder. With Apolo about to start extracting gold bars from the ground coming up here in the first week of December, this thing could be where WHT is now - at 2.70 a share -- in a year or two. (Damn, I bought WHT at .89 and sold it at a buck, umpteen months ago, dummy... again hindsight) But the bottom line is, APLL is in a great buy position right now for you (on this simple retracement to .325) to buy near the open Wednesday as the completion of another float turnover is about to hit and a ride to the fabulous .50s will begin.
Also on CNBC tonight there has been huge buzz/talk about the "drop in value of the U.S. dollar." The dollar's weakness would make gold a more attractive buy right now, in my opinion. More reason to jump on APLL (or CUSIF especially, or CALVF tomorrow).
Felt good to get all that out there. Hope it helps someone nearly as much as studying Bill Panetta's technique has helped me in the past two weeks! Good luck all.
Johnny C
