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Axion Power Concentrator 91: April 24, 2012: History Repeating? The Chart Pattern Before The 2011 Run And Now. 226 comments
These instablogs and the people who maintain them have no relationship whatsoever to Axion Power International. To our direct knowledge no person with a current relationship to Axion Power International other than being a shareholder participates in these instablogs.
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History Repeating or At Least Rhyming? From Jakurtz
I don't know if it means much technically but it sure is fun to look at...Check out this little chart highlighting the similarities between the past four months and the four months leading up to the 2011 run to $1.27. If history does repeat or even rhyme you have about another week to collect your shares and climb aboard before the train whistles out of the station -- No pressure.
updated April 24
(click to enlarge)
--------------------------------------------------------------------
Axion Power's Weighted Moving Average Price and Volume:
(updated April 24)
(click to enlarge)
Chart on Concentrator Comments: updated April 24
(click to enlarge)
Thanks to John Petersen for providing the charts.
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LINKS to valuable Axion Power Research and websites:
The Axion Power Concentrator Web Sites created by APC commentator Bangwhiz it is a complete easy-to-use online archive of all the information contained in the entire Axion Power Concentrator series from day one; including reports, articles, comments and posted links.
Axion Power Wikispaces Web Site, created by APC commentator WDD. It is an excellent ongoing notebook aggregation of Axion Power facts.
Axion Power Website, the first place any prospective investor should go and thoroughly explore with all SEC filings and investor presentations as well as past and present Press Releases.
-----------------------------
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Enjoy!
Disclosure: I am long AXPW.OB.
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This post has 226 comments:
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We should see the 1st Quarter 2012 CC announced sometime next week for mid-May. I will probably put up another CC questions instablog for organizational purposes soon.
----------------------...
It does astound me how we keep trying to put a size 10 foot into a size 8 shoe, with the L-ion evangelical movement and EV's.
The chemistry works well enough, but clearly not for this particular application.
I have always had a belief that May 2012 is when things would ramp up, and looking at the trading volume recently, one would have to believe that the big sellers are fading away (hopefully) and now if we can get the news we have all been waiting for, then an upward march seems the only logical place to go !
I like the fact that bloggers put their opinions out there for discussion, and wanted to do so myself, with regards to timelines and forecasting, so here goes nothing !
May 15 0.72c
June 30 $1.22
Sept 30 $1.44
Dec 30 $1.88
2013
March 30 $2.12
Sept 30 $3.44
Dec 2013 Somewhere North of $4.00
At least in the short term.
In the longer term (3-5 years), the sky is the limit.
D
It wasn't so long ago that I took assumed long-term growth rates for a major manufacturing company (that looked really good for the 5 year planning cycle) and found that they intended to eat up the entire US GDP within 25 years.
The DOD's goal of deploying 3 gigawatts (GW) of renewable energy by 2025 is one of the largest commitments to clean energy in history. From the Air Force's recently announced project to install over $1B of distributed solar on bases and installations across the country, to the Army's new Energy Initiatives Task Force (EITF) program that plans to issue PPAs in 2012 for 2GW of power, the services are moving smartly ahead with their plans to spur the development and installation of renewable energy ranging from utility-scale projects to rooftop solar for base housing. New programs are quickly springing up to purchase renewable power for installations -- programs that will require tens of billions of dollars in private investment and finance.
http://mwne.ws/IaknCW
http://bit.ly/AeOqn9
If one reads all pertinent discussion on NS/Axion , and testing has gone very well, one would have to make an educated guess that 10-15% of that budgeted figure should go Axion's way ?
Wouldn't that be fantastic !
Outstanding!
I noticed the bid was thru UBS as mkt-maker. Are you two foreigners by any chance? I think I recall bids thru UBS when a European member of the Axionistas was buying.
That's about it for my german. 8^)
At least it looks like Quercus is about 50k shares lighter between yesterday and today. Where are they now with their 850k allotment? 200k-250k left? That would mean they'll be done with this round in a couple weeks, at current rates. Maybe just before the conf call.
Got an AH trade of 19K @ $0.427, so Quercus was likely selling to the market-maker again this evening. 212K - 19K = 203, so they apparently gave a tad less than 10% (since volume was high in the last four minutes they likely didn't take time to recalculate) to the market-maker tonight for release tomorrow.
The WV average intra-day trade price today was 0.4288, so this AH price fits the pattern too.
The buy:sell has swung back in our favor at 1.12:1 and we had 30 trades that met or came near the ask vs. 16 that met or came near the bid.
HardToLove
http://seekingalpha.co...
Jeff Osborne – Stifel Nicolaus & Company
And last one is just the, the last in environment has been pretty challenging in China in particular. I was just – want to get a sense from you what kind of headwinds do you face from a sales perspective just given the cheap lead acid batteries that are kind of out there at the moment given the subdue demand?
Doug Milner
Well yes certainly there is price pressure and you’re correct in pointing that out. We’ve seen I would say some elevated pricing pressure or lower prices from our competition but more simply in China. But really the distinction is I mean the customers that buy our solution buy it for a very specific reason. And it doesn’t matter how expensive or inexpensive lead acid batteries are – that reason is tough to beat in that space efficiency and power efficiency.
So yes we have seen it we have had to address it, we’re taking a number of actions to reduce our landed cost and ultimately our delivered cost in China for the long term. But our customer buy Active Power solutions for a specific reason and I don’t think that we’re really subject to the same competitive pressure necessarily then the lead acid providers are subjecting each other to right now.
http://seekingalpha.co...
Today's news out of China, and what JP reported earlier today from Ford, was perfectly timed.
Thanks for the heads up.
The problem with a Yugo was whether it would stay running long enough to get to 60mph. ;-)
HardToLove
Haven't listened to the call yet, but quick (so I might have missed it) scan of slides did NOT reveal a pic of NS 999 this time ... though the capital budget was not a point of emphasis this time (Deb H. Butler, EVP Planning and CIO presented in January)
http://bit.ly/Ax7ISd
Reuters: http://reut.rs/Ib9K2R
Did catch this on a quick glance:
1. MATERIALS AND OTHER
During the first quarter of 2011, NS received an unfavorable ruling for an arbitration claim with an insurance carrier, and was denied recovery of the contested portion ($43 million) of the claim. As a result, NS recorded a $43 million charge for the receivables associated with the contested portion of the claim and a $15 million charge for other receivables affected by the ruling for which recovery was no longer probable.
http://exm.nr/JIz3tY
It's fascinating to read that the electric brakes recovered energy from braking for charging the battery (sound familiar?) The company failed in 1922 but Jay Leno owns one of the 700 made, which still carries a placard warning operators to take the vehicle to the factory if you need repairs!
http://bit.ly/I83JoG
(Hat tip to lfpdinc for the link.)
A company by the name of "New Souce Energy Group, INC" has an IPO scheduled for May 8th, with expected pricing in the 10 to 12 dollar range (offering 9.1 million shares).
Is this on anyone's radar or know anything about this co.... or is this another poor IPO?
"New Source Energy Group, Inc. (referred to herein as "New Source" or the "Company", and formerly known as "Ametrine Capital, Inc.") has been essentially inactive since its formation. Until November 19, 2010 the Company was regulated as a BDC under the Investment Company Act of 1940. However, the Company was not able to raise sufficient capital to execute upon its original business plan.
On November 30, 2010 the Company's largest stockholder sold its entire interest in the Company (being approximately 92% of the Company's issued and outstanding shares."
Then it did a reverse split ... then it tried to pursue oil and gas acquisitions .. then it was inactive ... etc. http://bit.ly/IaFBTq?storyid={c751fe14-5f4...
Now it still claims to be an oil and gas exploration and production company: http://bit.ly/K9sNGS
Not much of interest IMHO.
$400 billion in fossil fuels subsidies worldwide:
http://bloom.bg/I8MeEG
A fascinating analysis of US subsidies appeared in Motley Fool last January that showed on a useful energy basis, US hydrocarbon subsidies were on the order of $0.35 per barrel of oil equivalent while the alternative energy subsidies were closer to $35 per barrel of oil equivalent.
http://bit.ly/yiuOEe
I'll be glad when they're gone.
JP says they can file an amended 144 form to sell more shares during this 90 day period but they didn't last period, but things might be different this round if the price climbs...no way to know.
They are not driving down the price. They are merely accepting the price 90% are accepting.
I still keep wondering where the other 90% is coming from. I suspect it is a very small block of short term traders that keep jumping in and out. Its only a few cents but the % gain ( or loss) isn't bad.
Form filings certainly don't indicate any "insider" trades one way or the other.
It is better not to have a steady selling of 10%/day but when this thing wants to move it will move.
As expected by, I think, everyone else (;^)), Quercus was still 10% of daily volume, for the dates data was given--4/16 thru 4/20:
http://bit.ly/Ilmd0k
http://yhoo.it/ITVtEI
As of 11:44:28, share "buys" 49,340 and "sells" 152,150. 13 trades "buys", 16 "sells". VW average trade $0.4295.
The market-maker is running this to satisfy some big clients, IMO.
Ignoring that "lure" at the open, $0.44 is the high.
HardToLove
http://bit.ly/Ka33dq
Otherwise, a lot of good info for the newby.
Looks like it might be a lure to sell more current info. Hook to follow.
HardToLove
Take a look if you are interested.
http://seekingalpha.co...
http://seekingalpha.co...
Follow up to JP's last post on concentrator 89 where he stated "I got a call from Mario at Rosewater" who had seen Pztricks chart and wanted to make one like it for presentations done by Rosewater.
http://bit.ly/IbVYz7
One issue with the spreadsheet relates to cash flow. I wonder what payment terms will be for power cube. This assumes Axion and Rosewater are giving terms (30-60 days?). When you consider all the variable costs Axion will experience producing a power cube, cash will definitely become an issue, particularly for those applications where an inverter is required.
My apology for making up numbers, but if the time from ordering parts to receiving revenue for a power cube is 5 months, and the average cost is $400k, that would be about $2m in cash in the scenario of 1 power cube order per month.
JP, at what point would you think that Axion might be able to establish a line of credit with a bank? Could that be a leading indicator or would it only be possible after orders are made public?
Thanks
If I were selling it the terms would be 50% down, 50% on delivery. Let the guy buying it worry about financing. Axion can't afford to play banker.
All things being equal I think Axion is likely to be pretty tight with terms for the next couple years and shoot for half down and half on delivery.
285,900 traded with 90 minutes left in trading.
http://tinyurl.com/878...
I've got this sixth sense (or is it a seventh?) that good things are getting closer.
You probably have more commenters in the same "wife" boat than one might think!...funny!
I will be attending, PM me if anyone wants to coordinate.
The Axion Power International, Inc. Annual Meeting of Stockholders (the “Annual Meeting”) will be held on June 21, 2012, at New Castle Country Club, 511 Country Club Drive, New Castle, PA 16105 at 10:00 AM. The principal business of the meeting will be:
1. To elect a director to serve until the expiration of his three year term and thereafter until his successor has been duly elected and qualified;
2. To ratify the selection of EFP Rotenberg, LLP, as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2012; and
3. To transact such other business as may be properly brought before the Annual Meeting and any adjournment or postponement thereof.
What a great way to start the summer!
I'll be seeing many of you there.
Once again the opinion of management is clear – "We don't need no stinking reverse split."
####
I will be glad to start up an Instablog for people interested in attending, sharing lodging costs, travel, etc.
Last year, the Hampton Inn seemed to be where most shareholder attendees stayed. It's about four or five miles from Axion headquarters.
D. Walker Wainwright, 61, is an independent director who was appointed to our board of directors in January 2007. He is the former Chairman of Interboro Insurance Company, a provider of personal lines insurance products in New York State. He is also the founder and chief executive of Wainwright & Co. LLC, an independent financial advisory firm and investment manager. The Firm’s activities include the identification and assessment of alternative investments, the monitoring of these investments and the creation of proprietary portfolios. In this respect, the firm works with investment management firms, not-for-profit organizations and family offices as an independent consultant to create client-specific solutions. Wainwright & Co. also researches and reviews private investments, including private equity funds, to assist in determining their suitability for specific accounts or portfolios. Formerly a Managing Director in investment banking at Smith Barney, Inc. and at Kidder, Peabody & Co., Mr. Wainwright has over 35 years’ consulting, banking and investment banking experience. Having directed Kidder’s investment banking efforts in the Asia Pacific Region, he has extensive international experience and has lived in Australia and Lebanon. Mr. Wainwright began his career at Chemical Bank and, subsequently, the Schroder Group. He is a graduate of Stanford University (A.B. – 1972) and of Columbia University (M.B.A. – 1976). The Company has determined that Mr. Wainwright should serve as a director due to his long term finance and banking experience.
You want to vote to "write my name in" ...LOL
I may mention this to TG...tell him the axionista's need a director
Truly amazing. Like bangwhiz writes in his Google webpage: "We've got the power!"
Anyone have time to run the numbers more thoroughly? Thanks.
Very good.
Nice to see a couple of guys have a few more shares, including Wainwright.
Last years' Proxy:
http://bit.ly/IoKgL4
This years':
http://bit.ly/Id9fY1
Total common share ownership of the Axionistas is _________?
ans: a lot more.
who is counting?
The Quercus info is puzzling, still.
Though we don't come close to equaling the amount of effort he has given in educating everyone in the energy storage business...
And I agree, John's perserverance is legendary.
I think JP had us much higher, owning something like 37% of the common, but that was before the private offering.
Indeed...
http://seekingalpha.co...
A few comments down JP estimates 32 million shares owned by the axionistas. I was one who reported his shares at the time. I have nearly doubled my shares since then. I suspect many of you added at the end of the year like I did. If JP's earlier estimate is correct we could easily control 50 Million shares now.
I don't know that electing a director from this group would be helpful. I believe JP warned us that as soon as someone was elected, they would not be able divulge any insider info.
http://seekingalpha.co...
maybe its a dumb idea... but if as a group we come to own 20% or more of the company... its a thought...
Somebody needs to put me on THAT mailing list!
[note to SEC observers -- this comment is entirely in jest. I do not trade on insider information nor do I know anybody who does.]
We're building a solid base between .40 and .44 at least. So I guess the next avalanche of selling will be around .60-.63.
.42 appears to be holding fairly well....but .44 gets sell orders flying.
Even with that, it still wants to try to go higher, so it won't take much.
As for being smart, I think we'll all feel a lot smarter when Axion hits $2.00.
better yet: http://bit.ly/Ia6Zjr
http://bit.ly/IhhTUe
I want an AGM battery.
(Rosewater salesperson)
WHy? A PbC does it better, lasts longer,etc.
(New Customer)
I want an AGM battery.
And on it goes. LOL. Thanks Bang.
.4584 = 200-day VWMA
.4115 = 50-day VWMA
.4253 = 20-day VWMA
.4308 = 10-day VWMA
.0276 = 10-day crossover difference
.0469 = 50-day crossover difference
"Axion Power said this first $400,000 purchase order is part of a $475,000 total purchase order, that will be used in the commissioning of Norfolk Southern's NS-999. The total purchase order will be shipped and deployed in the next 90 – 120 days. To date, this is the largest single PbC battery order that Axion has received. No further details were disclosed."
http://prn.to/IPp03x
HardToLove
I am so glad to see that this is now official...no more guessing. $475,000 is a very nice order. This should get things moving.
Now, does good news get punished? Or ignored?
I think this satisfies the "real order" criteria DRich mentioned?
TG wasn't taking much risk in projecting the revenue growth was he?
HardToLove
You read my thoughts.... I can't imagine it getting punished on this news... to me this is what I have been waiting for. This is a real Purchase order from a major company with potential for much future business. Not another "test". I can't imagine the batteries failing after all the testing, and as JP states "the embarrassment" of the first failure. Can't wait to see them installed and the NS 999 at work.
Maybe this is the beginning of the "market acceptance" I have been waiting for.
On Jan 25th D-Inv suggested $250-$300/battery
$475k/1080 = $439 each.
That seems a lot, even if that $75k extra is some kind of service aspect:
400,000/1080 = $370
Does this mean a better margin, or higher than expected costs, or where is the calculation to be modified?
In seriousness, I suspect some ancillary equipment and/or services might be included. Maybe some on-site engineering support, etc.?
HardToLove
But if 90 days, or even most of it, is the delivery period it's not exactly a high production rate (<20 batteries / day or so!).
I can't believe that production is running so high that they can't process this order in less than a month, or if they're not producing much then obviously it can all be done in a week.
http://tinyurl.com/5fsnjk
http://tinyurl.com/738n4j
http://tinyurl.com/2ec...
On Jan 25th D-Inv suggested $250-$300/battery
$475k/1080 = $439 each."
Could be your on the right track (pun intended) with the NS purchase order, Dave. On the other hand, it might be worthwhile to consider the 1,080 battery count from the original NS999 as a low ball estimate of PbC battery count needed for the same energy reserve.
Assuming the top line AGM batteries installed in the original NS999 had an energy density of 35 kW/lb and PbC has 25 kW/lb one might surmise that a PbC equipped NS999 would take 1.4x more batteries for comparable energy reserve. 1.4 X 1080 = 1,512; 475k/1.512k = $314 per battery.
(CPST) micro-turbines are a good example of this where the typical lead-time from order to use is 12-18 months to allow for what the customer must do.
In the cases where the customer is ready now, the units ship in a much shorter time-frame.
HardToLove
I'm reluctant to draw too many conclusions without a lot more detail.
HardToLove
Very good news, good news. There is another that I also like:
...We have been moving on a parallel development path with respect to supplying batteries for the first NS 'over the road' locomotive. This larger, more powerful, unit will require approximately twice the number of batteries as those to be shipped for the yard 'switcher' locomotive. High-performance PbC batteries are ideally suited for hybrid locomotive applications due to their high charge acceptance, fast charge and discharge capabilities (important in regenerative braking), and their inherent ability to equalize voltage when utilized in large string configurations."
Have a good day!!!!
We have been moving on a parallel development path with respect to supplying batteries for the first NS 'over the road' locomotive. This larger, more powerful, unit will require approximately twice the number of batteries as those to be shipped for the yard 'switcher' locomotive.
Have a nice day everyone !
Very good news for Axion. And, verifies our trust in TG. Here's to trusting him to deliver 300% rev growth in '12 and '13. Cheers
"Axion Power Receives Initial Norfolk Southern Order for PbC® Batteries"
http://on.mktw.net/IGjkJi
Nice list, right?
"We anticipate a long and mutually beneficial partnership ( with NS) as they move forward with their hybrid locomotive strategy."
translation: When I said 300% per year growth I was serious. This order plus the OTR loco order later this year will total 1.5 Million in PbC sales alone.
"Of course PbC batteries are also very stable and safe..."
translation: Hey Lithium.(with thumb on nose and fingers wiggling) Na na na na naaa
"PbC batteries operate safely at all temperatures; are 100% recyclable; and are priced substantially below the cost of some of the more highly publicized exotic battery chemistries.
translation. Hey, Battery users. If you want something cheap that really works give Axion Power International a call.
HardToLove
What capacity and capital budget will NS allocate to this, and how much will they reveal publicly? It was interesting that this PR came out the same week as the NS quarterly report.
How far in advance will NS commit? How long will the OTR unit has to be in service for them to commit to major battery deliveries?
Dreaming of "steady/predictable" AXPW income between NS and the flooded battery contracts ... just for starters!
But I don't think the stock price will really move till we get some of these answers.
Hopefully Tom will be able to put some color on their expectations for likely follow on orders in the next conference call. Any way you slice it, it will take a lot more good news to make a dent in the NS fleet of 4,000 locomotives, or the 20,000 units owned by CSX, UP and BNSF.
Norfolk Southern wants to reduce its CO2 emissions by 6% over the next four years. The only way to do that is reduce its fuel use by 6% over the next four years.
Then there is the rest of the world. What kind of share price will that be going forward? I don't know & I could be low. Onward toward marine applications in about 5 years. Just need to find an application to pick up the slack between now & then.
I'd bet NS fuel bill is many multiples of our market cap =)
Your question piqued enough interest to prompt a Yahoo search on "Norfolk Southern fuel use" which returned http://tinyurl.com/7tl... among other links. From that link, we have
<
Compared with 2009, we reduced our greenhouse gas emissions by 3.9 percent per revenue ton-mile of freight in 2010. We achieved nearly 40 percent of our goal to reduce emissions by 10 percent per revenue ton-mile between 2009 and 2014.
We improved the fuel efficiency of our locomotive fleet by 2.2 percent over 2009. That resulted in diesel fuel savings equivalent to 10.2 million gallons and reduced emissions of 104,924 metric tons of carbon dioxide equivalents.
<
2.2 percent savings amounting to 10.2 million gallons indicates fuel use of 463.64 million gallons (11.04 million barrels) in 2009 and 453.44 million gallons (10.8 million barrels) in 2010. A further reduction of 36.2 million gallons (.862 million barrels) is needed to meet the original goal of 10% reduction from 2009 consumption by 2014. With 2014 a mere 20 months away, the clock is ticking on the NS game plan
It would really be interesting to see a breakdown of NS fuel consumption by 'over-the-road' and 'switcher' locomotives and to get a read on fuel use reduction realized in 2011.
Earlier they had their ask at $0.431.
I didn't know MMs read news.
Patience here might pay off, or not, *if* FANC is setting both sides to service a larger seller.
Guessing as usual,
HardToLove
1. The new showing on MarketWatch shows a much better and coordinated release...Maybe Vani ?
2.Deployed in 90-120 days I think means installed....they can deliver the batteries quicker, may already have them. It will take a while to retro-fit the 999. That's why I say they get it running first, and then start the OTR model next year.
3. This gives me much more confidence in what TG says, especially about revenue and break even in '13. It makes you think that barring a global disaster that he already has it in his pocket.
4. No matter what the stock price does today, this makes me very, very excited about the future.
Where's that "golden cross" JP & HTL ?
Investopedia defines a "golden cross" as crossover involving a security's short-term moving average (such as 15-day moving average) breaking above its long-term moving average (such as 50-day moving average) or resistance level.
http://bit.ly/JFjDrN
A definition I like best has the 10-day VWMA move up through the 200-day VWMA and the 50-day VWMA turn up.
If you look at my graph in the header the golden cross is the point in February 2011 when all three short term averages moved up through the 200-day average and marked the start of a serious run. In 2011, there were three *problem* shareholders that owned a total of 25 million shares they wanted to sell. When they piled into the market they crushed the run. This time around I can't see a similar dynamic because the *problem* holders are either out of stock, or darned close.
The "golden cross" I would really like to see is when AXPW crosses above AONE ! LOL but seriously.
Premkt pricing finally starting to move above yesterday's close.
This will be tremendoulsly helpful to pave the way for Vani and Rosewater of future sales.
To anyone following this stock this announcement isn't news. Its confirmation of what the EPA held up last year. It does however take away any gnawing concerns that maybe it was the PbC product cvausing issues, and not NS or the EPA.
Normally expected news is already built into the price.
Yet most of us feel that the price has yet to reflect the 300% revenue increase for the next two years. If this bit of news is a confirmation of that, then Axion will have a minimum of $90 million in revenue for 2013 FY. The present value of a breakeven company with disruptive technology? The old $1.25 per share base should be back, very soon.
Confirmation of another good sale should validate the break even and the growth rate. Then I do think we see your $1.25
2011 revenue was $8 million, a 300% increase from $2 million in 2010.
A 300% increase in 2012 will take Axion to $32 million.
A 300% increase in 2013 will take Axion to $128 million.
I'm sorta glad about that - I'm tired of suspense and wouldn't like wondering if it was going to move to fill it.
BTW, interesting that volume on the share issue day of 2/1 was 2.55M and today was 2.35M.
Hm, ...
HardToLove
The exciting thing to me, beyond NS, is that this gives Axion a green light with all the other locomotive integrators and end users. If the stock gets punished on this good news I'll happily buy as much as I can today.
Seeing price action after only a few minutes: There are better invertebrates than myself.
I expect a new group of investors to enter now that there is confirmation that an elephant wants the PbC.
800k shares in first half-hour. Eating thru the resistance. Yum.
It's one thing for a company like Axion to say "NS is testing our PbC" and another entirely to say "NS tested our PbC for 2-1/2 years and is now buying our product for their poster child green initiative."
Gee, don't we know of a first tier automaker or two that have been testing the PbC for a couple years for their poster child green initiatives?
That being said, the successful conclusion of one testing program that seemed to drag on forever may soothe jangled nerves that automaker testing is dragging on forever.
Eventually folks will come to the understanding that these things take a long time and that *dragging on forever* means that everything is proceeding smoothly. It's the early terminations you want to avoid.
You seem to be bang on re NS news being baked in to the existing price. Although this felt like a significant milestone to me, this in truth derived from avoidance of the 30% price drop that would surely have accompanied news that NS was giving up on the PbC. More rationally, this is 'just' more testing, this time in the field, bringing locomotives to the point that BMW reached 6 months ago. Four months until NS field testing starts. 6 months minimum of that (?) and a 'real' rail order(s) not before this time next year. In the meantime let's hope we have that larger over the road field testing order alluded to, and some other sundry cube sales to keep us cheerful.
Stock hit 40 cents pal...Buy some more!!
map
All Quercus or some more "flippers" from 2/1 issue?
Anyway, there were, as suggested by recent action, sellers primed apparently.
HardToLove
Anthlj - You are correct, but after the testing that has been done, I expect no major failure, just minor tweaking to the parts. These first few retro-fits will be slow and take time until NS gets the process perfected. This sale is a much more solid commitment that anything else we have seen. We can't go from a few million in sales to a billion $$$ overnight. Market acceptance is what was missing, now you have it.
Bang : I agree with the easy money is what is to come. People who waited for a catalyst now have it. Let's see how fast they take advantage of it.
Will be trying for more at that level or better.
HardToLove
EDIT: 10:26:14 140 trades, buy 418,400, sell 751,280 ratio 1:1.8, worsening.
Selling pressure remains, but from today forward, I'll consider it more like a nuisance dog pulling at my trouser cuff.
Trade went off @ 10:55:29, 6,000 fat fingered shares now in the fold.
If this *doesn't* break the trend my charts have been suggesting and we do hit *0.39* I'll add chunk more. If it breaks the trend and starts the grind up I want to see develop, I'll still be happy as a pig in $h*t.
These, BTW, are *not* trading blocks - those are still held.
HardToLove
My Schwab screen says volume = "1,722,625 Above Avg." as of 11:03AM.
I've had a GTC in at .4 since 11th April. Not a bite. What is your secret?
Now, I have to go find something else to sell to balance me out.
The volume spike should get the attention of traders. We're 6 times average daily volume at 11.
I expect the bottom to be in soon, (if not already)...any follow up news from whoever/whenever should begin the grind up that HTL wants.
I love volume, it will take Quercus and weak flippers out sooner.
The ready sellers appear numerous and eagerly waiting for any bump from good news.
Excitement got the better of me...
Congratulation to Axion Power, Axionista's and Axionator's!
This way to the next instablog
http://seekingalpha.co...
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