Monday, January 9, 2012

Re earlier post on BTO

So now all of a sudden BTO gets a mention in a newspaper article. So its volume surges to over 3M, and it threatens to break above its EMA(8).

So what the hell, eh? I'll buy $10K worth and see if it breaks above. Kinda breaking my own rule - it hasn't started going up yet. And it hasn't proven it can outperform HGU yet. And because this huge volume hasn't yet blown it past the EMA, that indicates that someone's still happy to sell into a volume surge.

That's three reasons why I should stay away from BTO til it actually starts going somewhere. But, dumb me, I liked the volume bar on the chart.
Posted by at
Labels:

3 comments:

  1. part of the volume might be due to canaccord's (jan 8?) addition to their Focus List with $5.50 target.

    Haywood also redid their model (jan 9) with Auryx acquisition included and stuck an outperform rating with $4.40 target.

    ReplyDelete

  2. What was Haywood's old price target before Auryx?

    I grabbed another portion of BTO today. it's not failed its breakout, it's not lost too much volume, and the L2 looks positively charming today. Breathe on it and the bid-ask moves up another cent.

    ReplyDelete

  3. bto targets at house 52.

    Back in June (13th) they did a 1Q review and $3.75 target.

    Aug 15 update with Q2 and target moved from $3.75 to $4.10.

    Sept. 8 update for sector and commodity pricing changes across the board. $4.10 target moved up to $4.40.

    Nov. 11 report with Q3 numbers and $4.40 re-iterated.

    Helps? Tangent -- Watching BCM & arb spreads between AST/GOZ. positions in all, flat BTO.

    ReplyDelete

Don't bother commenting unless you have some useful information or valuable commentary to provide.

If you're a fucking tool, please go to Yahoo News for all your commenting needs.

Subscribe to: Post Comments (Atom)