11/03/11 - RAYS.OB Has a Perfect Chart
Here's a really quick post at the The Perfect Stock blog. Everyone should be well aware of the stock RAYS.OB by now. It gave up about .40 cents in gains late afternoon yesterday. Many people sold in panic, but look at the recovery in today's action in the picture above. I believe RAYS is once again setting up as a Perfect Chart. Often times people just look at 1-day or 3-month charts in checking out the technicals of a stock. However, 15-minute charts over multiple days can also give you a clear picture of where a stock is headed. In spite of the drop on 11/02/11, you can see that the stock is still in an upward path. Very similar action occurred in its predecessor LEXG.OB. I believe RAYS will still head significantly higher just in a slightly less aggressive path. We'll see.
Posted by Card at 4:21 PM