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.
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So much for that trading range. Picked up a few more shares at $1.51 yesterday.
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