ANO - Go Long?

Moniker: jmar
Symbol: ano
[X] Entry
Duration: Long Term
Direction: Go Long
Comments: tat would you look this one over thanks, right now im waiting for a correction in the price


ANO is in the metals sector; platinum in particular. I've been in this stock since the beginning of the year and though I took some profits around the $2.20 area thinking it was extended, it still keeps moving higher on a parabolic type move. The only thing you can do in a stock like this is to wait. Eventually it will provide an entry point but until it does, buying it at these levels almost certainly will result in an initial loss as you won't want to take the profits short term and we all know that a parabolic type move works both ways when it does end. There is some resistance up around $2.6 or so and that will slow it down but the entry is back $1.80 right now and that's a long way back down. We'll have to evaluate this further once it's stops going up and we can see what kind of volume it comes back on and what the price spread is as it drops.