Oct 16, 2009 @ 12:44 PM PDT
When the recession hit, Audiovox was already in the process of cutting its fat, whereas other companies were only just beginning.
A few days ago I was conditionally bullish on Health Sciences Group, Inc. (OTC:HESG). As of today, the condition has been met.In short, I liked the breakout move Health Sciences Group shares started on the 16th. What I didn't like was how overbought it was when I last mentioned it... HESG needed to pullback and regroup before it was sfae enough to step in.
Well, that's what happened. Health Sciences Group peaked at $0.0024, fell to a low of $0.0006, and is on the way higher again. There's still no meaningful target level for HESG; just ride the trend and bail at the first sign of turbulence.
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I love the recent buying volume for Bioject Medical Technologies Inc. (OTC:BJCT) - it points to a new uptrend. However, I can't stand the size and unsustainable-ness of the surge.
I think Bioject Medical Technologies is another Health Sciences Group... a chart worth watching as of today, but not a 'buy' right now because of the big move higher. Like HESG, let's wait for BJCT to slide lower and see what happens. But make no mistake - Friday's pop was reason-based, and should get the attention of new potential buyers in the near future.
You should also know that for Bioject Medical Technologies shares have performed miserably at following through on these moves before, so I'm not blindly optimistic. Let's see of BJCT can renew this buying when faced with an attack of profit-taking.
And finally, eDOORWAYS Corporation (OTC:EDWY) made good on the conditional bullishness I discussed on the 17th.
The ceiling was right at $0.051. eDOORWAYS shares were trying to hurdle that level for the better part of last week, and my suspicion so far was right - a small move above it would have a slingshot effect, launching EDWY higher in a hurry. The stock's now at $0.075.
How much higher can eDOORWAYS Corporation shares move? Like I said then, a repeat of the August-to-September move was entirely possible - about a 10 cent move. But, even of EDWY only revisits the September peak of $0.16, that's still more than a double of today's price.
I suspect the stock's going to pause briefly here, but I look for more buying shortly after the chart cools off. That may only take a day or two.
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