Alloy Steel (OTCBB: AYSI.OB) seemed to have been trading in a range from the low 1.70s to the 1.90s recently, in the absence of any new news1, so I bought a few more shares today at $1.72, with the intent of selling these shares in the $1.90s. I figure if I am looking at this stock every day anyway, then maybe I can make a few dollars if I recognize a pattern. We'll see how this works out.
1There hasn't been any company-specific news, but the strengthening of the U.S. dollar versus the Australian dollar recently is something of a headwind, since most of the company's business comes from Australia now and is denominated in Australian dollars, which are now worth less in U.S. dollar terms.
So much for that trading range. Picked up a few more shares at $1.51 yesterday.
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