Hey guy's... Pretty quiet board, guess thats because of the long and painful decline since March 2007. Sorry for the drop, I'm sure it hasn't been a fun ride, but thats exactly what brought it to Top Gun Tradings attention.
I received an alert on this, then after looking at the charts felt it was well oversold and over-due for at least a bounce, if not a correction/reversal. We decided to climb on board, along with several of our members, this past Thursday.
It may not turn right away, but from what I can see it appears very close. The RSI is not below oversold limits, but historically this stock does not like to drop below 25, which is why we got in now, instead of waiting for it to decline further. Also, the MFI is WELL below its oversold levels, having dropped below 25, which has ALWAYS been followed by substantial climb up.
We are not "Investors" of Ethanex Energy Inc., we are merely traders. We look for stocks that have declined to oversold levels and merely play the bounce, so hopefully you will all be seeing at least some sort of rise in the coming week.
Good Luck!!!
