One final under-$10 stock that's starting to trigger a breakout trade today is GMX Resources (GMXR), a pure-play independent oil and natural gas exploration and production company. This stock has been a big winner for the short-sellers in 2011, with shares off by around 70%.
If you take a look at the chart for GMX Resources, you'll notice that this stock has plunged from its July high near $5.36 to a recent low of $1.15 a share. After printing that low, the stock has started to rebound sharply and is now starting to break out on high volume. At last check, the stock is soaring 19% with over 2.4 million shares traded. That volume is well above its three-month average action of 1.53 million shares.
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