Today KATX closed at a shade under $.20 a share after hitting an intra-day high of $24 a share. For those of you who were buying up shares at $.05 and $.06 when the Guru was telling you KATX was heading to $.10 and beyond, well you are up 400% as of today's close. This is what I was saying a little over a month ago with KATX trading well below $.10 a share.
On March 30th I said:
http://pennystockgurus.blogspot.com/2010/03/katx-dont-say-you-werent-warned.html
You could have been buying up shares at $.05 to $.06 since February in anticipation of KATX's next leg up. The one the Guru has seen coming for some time.
Today KATX closed at $.0675,up 20%, on breakout volume.
My target remains $.10, but that is just my first target. If this is indeed the next leg up I think we break into new highs and could see SRSR type numbers, meaning $.15 - $.20 a share. That represents a 200-300% gain from today's close.
Let's not get ahead of ourselves just yet. First we need to see $.10, which we should in short order.
On MARCH 31st I said:
It is becoming more evident by the day that KATX is going to hit $.10, the only question left is what it does after that. I suspect this is the 3rd up leg in this long rally and the stock will reach new highs. Consider that each of the last two legs posted 500 - 1,000% gains. If history repeats itself KATX could hit $.30 a share. That would mean this rally still has some significant upside potential. Today's action left me more confident about my bullish stance on this stock.
http://pennystockgurus.blogspot.com/2010/03/katx-starting-its-3rd-leg-up.html
Today's Chart:
Just looking at the chart it is becoming evident this third leg is going to run its course shortly, the only two questions I have are:
1. What price does this third leg end at?
2. Will there be a fourth leg higher?
I will answer question #2 after we find out the answer to question #1. I think this leg could see $.30 before all is said and done. KATX remains a stock to watch in 2010 and beyond.
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