PRMX just reached its 52-week new high and at 5.00 (All-Time High) and closed at 4.92 last January 27,2017 — which is a Friday.
We’ll be focusing on its 52-week new high since I am experimenting on this Friday rule I saw on the internet. The rule is really simple.
Rule number 1: On a new 52-week high, when the market closes at or close to its high on a Friday, buy long and go home long for the weekend.
Rule number 2: Exit the long position on the opening the following Tuesday.
Rule number 3: If the market opens lower on Monday, exit the position immediately.
On the closing last Friday, I bought a few shares of PRMX to ride on and experiment how this rule goes. Come Monday or Tuesday, I will post a follow-up on this.