If you like this e-zine, please do a friend
and me a big favor and "pay it forward."
If a friend DID forward this to you and if
you like what you read, please subscribe by
Mar 31, 2006 - Issue #003
MIVA: Take Over Target?
MIVA, Inc. (MIVA) $3.91:
An interesting looking chart, in my opinion, is developing here.
The stock, one of the worst performers in the S&P Small Cap Index (Relative Strength wise),
with decidedly unappetizing looking financials, also, I hear the company's two top
executives resigned is, nevertheless, exhibiting improving price action.
Question: Why is the stock not collapsing?
It's beginning to look like somebody likes it.
In my opinion, an intial long position is justified. If it continues to act well, the
position can be increased. If not, it can be jettisoned.
General Motors (GM):
After ending the previous week on a "reversal" day to the upside on increasing volume,
opened this week on a gap up; then reversed Friday's reversal day, declining for the next
three days on even heavier volume, thereby taking back all the positive action of the
Bottoming out on Wednesday 4/5 at $19 even, Thurs and Fri holding above the weeks low
on much lower volume. It did not participate in Friday's general market sell off.
That's the good news. The bad news is it violated the weekly "significant" line of support.
That's a lot of damage to repair.
It resembles falling off a cliff, but managing to hang on by it's fingernails. I'd go
to cash until a new line of support is re-established.
Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!