aks

A nice tight linear channel decline from late July to into September, ultimately approaching the May (boat) bottom with its well defined upper boundary (deck), and just dipping below the prominent June low, then making a nice tiny wedge ... and breaking out with a gap.
Is it time to sell? It us up around the level of its most recent big top again But Charlie Munger would kick me up one side of the street and down the other for suggesting such a thing. After all, though AK Steel Holdings has been loosing a smidgen of money every year for a number of years, it's an absolutely huge company, and its balance sheet is sound. Besides, if we draw a trend line across its 2010 and 2014 highs, it has just broken out above that in fairly dramatic fashion. Really, my feeling is its a definite hold, and it's likely to rally strongly without even taking much of a break.

Predictions are neither here nor there, but it's interesting that ... wait, I'm wrong. It has a lot of debt, so it was not, at the end of 2015, as I thought for a moment, a buy on book value ... I was looking at current ratio, which is solid, and was then.

What are we to make of some thing like this, then? It has some positive fundamentals - size, good current ratio. The fact that its losses are modest could be called a positive. In what sense could it have been called cheap at the beginning of the year, there? Only in this sense - well, it was down 90% since 2010, so, in terms of the price pattern ... and maybe that this decline took a long time - but in terms of the fundamentals, in this sense: sales of well over $30 per share, and a price of only $2.50 a share.

This gives me a thought. It's a pretty obvious thought, and I've had a thought like it before, once, not too long ago, but it didn't stay on my mind. I can scan for a low price to sales ratio ... and, having done that, just for the heck of it, I added a decent current ratio to the criteria (making it criteria, and not just a criterion) ... and started looking at the list ... of 700 stocks. Came up with Arctic Cat.