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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: buckbldr who wrote (38991)	2/4/2005 5:42:24 PM
From: chowder	Read Replies (1) of 206334

>>> your personal analysis as to why PTEN this a.m. is behaving so CONTRARY to the rest of the driller mkt. It absolutely defies any logical reasoning that I can apply to it. <<< You asked Brother Bum, I hope you don't mind my analysis. It's a classic technical move. The chart will clearly show that the last 5 times PTEN got above $20, it sold off to the $18 range. It's in a trading channel which indicates it's a weak performer. What you saw was profit taking off a channeling.com kind of stock. stockcharts.com[h,a]daclyiay[pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G Stocks either trend up, down or sideways. Each trend is played a different way. Stocks that trade sideways are stocks that are sold into resistance. dabum

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