interesting - I will be watching this stock. Though, I think that I, too, will be holding for that amount.
The stock is down to about $13.50. Do you think the market over-reacted and it is now a good time to buy?
The following is just my analysis and is in no way an endorsement to buy or sell anything. Your trades are your responsibility. The volume down was greater than the volume up. Again, I'd look for volume to dry up a bit. Needs more time to stew. Right now, I'd also adjust my buy target to the $12.50 area. I'd let it test that first pullback to 12.68 on lighter volume. This is a nice setup because it will by default also be lighter vol than the push up. Wait for a doji or hammer day and pull the trigger. peace.
Checking In This Morning On a stonedinvesting top pick we're still up huge at $14.30 or so RELAX. Geez one 3 plus % down day and the phone starts ringing like crazy over here. Let's revisit why this is the #1 Stock Of The Year. > One of these clean ETF's has AMSC as one of it's largest holdings, American Superconductor (NasdaqGM:AMSC - News), has helped bolster that rise. The company develops and manufactures products that improve the cost, efficiency and reliability of electric power systems. It has a gleaming RS of 95, although it's posted negative earnings for years. That could change soon. Its stock has been finding support at its 10-week moving average line and climbing upward over the past two weeks. Last week the Westborough, Mass., company announced that its Windtec subsidiary won a multimillion-dollar deal to design and build a wind energy system for Dongfang Steam Turbine Works, one of the largest steam turbine manufacturers in China. > AMSC Wire Instrumental in Successful South Korean Superconductor Motor - BusinessWire WESTBOROUGH, Mass., Apr 19, 2007 (BUSINESS WIRE) -- American Superconductor Corporation , a leading energy technologies company, announced today that two of its South Korean customers - Doosan Heavy Industries & Construction Co., Ltd. (Doosan) and the Korean Electrotechnology Research Institute (KERI) - have utilized AMSC's proprietary high temperature superconductor (HTS) wire to successfully develop and demonstrate a very compact, high-efficiency superconductor motor for civilian and military applications. This news follows the announcement three weeks ago that AMSC had successfully completed factory acceptance testing of its own 36.5 MW (49,000 horsepower) HTS ship propulsion motor for the U.S. Navy. The motor produced by Doosan and KERI utilizes approximately 5,000 meters of AMSC's HTS wire and is capable of generating 1,300 horsepower at 3,600 revolutions per minute. The system is significantly smaller, lighter, quieter and more efficient than the traditional motors sold today of the same power rating, which are made with copper coils. Work on this motor program began in 2004 with the help of government research and development funding. Doosan plans to begin production of motors for the military and commercial markets in the 2010-2011 timeframe. AMSC estimates that the annual worldwide market for industrial motors with ratings of 1,000 horsepower or higher is over $1 billion. "This latest news from our South Korean customers is further evidence of the compelling advantages that HTS provides for electrical equipment and the global interest in bringing products of this kind to market," said Greg Yurek, founder and chief executive officer of AMSC. "HTS rotating machines are now entering the manufacturing phase, creating significant opportunities for AMSC's superconducting wire and coils. We congratulate Doosan and KERI on their achievement and look forward to working with both organizations on motor programs and additional projects in the years ahead." AMSC has an ongoing relationship with Doosan Heavy Industries in both the HTS and wind power arenas. In January, AMSC announced that it had signed a contract worth more than $2 million to develop a 3 MW wind energy system for Doosan and support the assembly and installation of a system prototype. Doosan plans to begin series production of these systems late in 2009. In October 2006, AMSC announced that it had received an order from KERI for 22,000 additional meters of HTS wire to begin a 10-year project focused on developing superconductor magnetic energy storage (SMES) systems. This project is being funded by South Korea's Ministry of Science and Technology. >> Ok folks do I have to hit you on the head with a Doji Hammer? Don't overanalize this Target=$30. ~stoney