V.EGG - Ebony Gold & Gas Message Board

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Gold/Mining/Energy : V.EGG - Ebony Gold & Gas

EGG 3.630

0.0%

9:50 AM EST

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To: Justin Curran who wrote (829)	7/12/1997 5:46:00 PM
From: Roberth	of 1088

Using EGG as an example the way to handle a stock that is about to start trading after a halt is as follows: - we knew resistance is about 1.80 (previous TA calcs) - before trading starts place orders to sell some at 1.80, some at 2.00 (being a premium to the plateau) and some at next resistance of 2.40 - this ensures you get the maximum short term gain possible Most people will wait to see what happens after trading starts an will usually be found chasing the market. You would have ended up selling all of your position at 3.00+ (7:30am) and then watching is come back to resistance first at 2.40 approx (8:00 - 9:00) and then falling further to support at 1.80 (9:30-close). Note that it has been trading about 2.00 for these last few hours which is a 10% premium to the support plateau at 1.80 where it quite possibly will slide to on Monday unless there is an increase in activity again. (ie. more news) With all the good news floating about I would say there is a good chance it will climb to next short term resistance at 2.40 quite soon.

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