LAN will continue to climb and here's why. The last time it traded this way was the last time it ran to $3.50. If it weren’t for bad timing it would have continued to move up from there but unfortunately that didn't happen. Right after it made it's run it was sold off a bit on the Private Placement announcement. People that misinterpreted the PP announcement as negative started to sell off and take profits. This turned out to be lucky timing for them because shortly thereafter, Abby Cohen opened her mouth causing a technology sector sell off and we all know that it has been down hill from there. Greenspan then came out of the closest with his inflationary concerns and we have been on FED watch since. That effectively destroyed the small cap market.
Plaintree has shown some flashes of excitement since then but nothing like this. There is absolutely nothing to hold this back right now and each bit of positive news will continue to move it higher to new support levels. They have completed the restructuring and are in the midst of executing a new Business Plan. They have hired new, highly skilled staff, have new products to be released shortly, have just completed an analyst tour and when these guys get back into full swing after their summer holidays we will see continued and increased institutional buying. A full NASDAQ listing is in the not too distant future, they are targeting a growing niche market and profitable quarters will continue.
FED watch is over, there is no negative news on the horizon for LAN, summer is ending and there is always increased trading in the fall leading up to the peak in RRSP season. We are actually ahead of the game right now and as traders and institutions complete summer holidays and see what has happened with LAN it will help to keep the momentum going.
Look at the trading below when it ran up to $3.50. It is very similar except this time ity won't stop there. It will move towards Steve Misener's - Small Cap Fund Manager at CI Mutual, target of $5.00
Date Open High Low Close Change Volume
25-Feb-00 $ 1.11 $ 1.11 $ 1.08 $ 1.10 $0.03 908,291
28-Feb-00 $ 1.15 $ 1.19 $ 0.95 $ 1.03 -$0.07 981,195
29-Feb-00 $ 1.03 $ 1.10 $ 1.01 $ 1.05 $0.02 483,305
1-Mar-00 $ 1.05 $ 1.48 $ 1.05 $ 1.25 $0.20 4,290,643
2-Mar-00 $ 1.30 $ 1.49 $ 1.29 $ 1.39 $0.14 4,932,528
3-Mar-00 $ 1.55 $ 2.49 $ 1.48 $ 2.21 $0.82 8,382,358
6-Mar-00 $ 2.45 $ 2.75 $ 1.65 $ 1.72 -$0.49 6,035,534
7-Mar-00 $ 1.85 $ 2.12 $ 1.70 $ 1.80 $0.08 2,468,887
8-Mar-00 $ 2.00 $ 2.00 $ 1.65 $ 1.65 -$0.15 1,950,120
9-Mar-00 $ 1.70 $ 2.35 $ 1.63 $ 2.35 $0.70 3,734,967
10-Mar-00 $ 2.60 $ 2.98 $ 2.44 $ 2.53 $0.18 5,639,325
13-Mar-00 $ 2.50 $ 2.95 $ 2.15 $ 2.85 $0.32 3,610,967
14-Mar-00 $ 3.31 $ 3.50 $ 2.88 $ 3.06 $0.21 5,552,808 |
