HXM @ 2.12
Looked like a short squeeze or just a gap and run. Sells began @ 7:45 and dropped from 2.40 to 2.18, then went east/west for the remainder of the day.
LOD = 1.69
HOD = 2.40
CLOSE = 2.12
AH = ? As of 3:30 (PST) 2.15/2.16
I held because of:
1. News and target price (MW), although MW does have five "sell" recommendations.
2. The buys/sells after the run & scalp were 50/50 with no EOD sell-off.
3. Now that news is out and HXM has finished near the top in ticker performance over the past two days, I assume it will garner more attention, leading to an increase in volume.
Final notes:
NXM has bounced off of its 5 yr - low of 1.21. Presently, I'm trying to figure out if this is a legit bounce due to company progress (which it has recently had), or just the natural reaction of traders as a stock hits its low point, hoping for a sky play.
I think tomorrow will tell the tale, and I'm willing to sacrifice a small stake in determining the strength of NXM.
