Wednesday, January 18, 2012
NXOI - A 100% Alert To My Subcribers
I alerted my subscribers in chat and via email this morning when I saw the NXOI Form 4 hit the wires. The bid was at $.0017 and the ask $.0018. The stock had been terribly oversold, and looked poised, regardless of the Form 4, to mount a rally. NXOI was a dry pile of pine needles and that Form 4 was the match that lit the NXOI fire today.
The stock did not take off right away, and there was ample share supply under $.002 before the real volume kicked in. If you look at the NXOI chart above the only problem I see is historically NXOI has had a great one day pop and then declined the next. Hopefully this time will be different for NXOI longs.
What has me encouraged is the strong volume and money flow. Also the 50 DMA rests above $.006 and that should be the next point of resistance if NXOI continues to rally tomorrow. My twitter followers were also alerted to NXOI near its lows, follow me at http://www.twitter.com/bob_wilcox