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

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To: ChanceIs who wrote (83047)	4/15/2007 5:15:40 PM
From: chowder	Read Replies (2) of 206279

CHK has been in a trading range for over a year. Price is now coming up to the top of that range where price has reversed the previous four times price has approached $34. If one wanted to buy CHK, the low risk entry would be to wait for it to break out above $34 and be sure the break out was on increasing volume. There isn't a lot of overhead supply putting down side pressure on price. I don't know why price has been so stubborn about breaking out of this base. The longer the base, generally speaking, the greater the up move when the break out comes. I presented a buy set up for EPEX on 4/9 over on the Bottom Fishing thread. Message 23441224 I have no opinion on XEC. The chart is ambiguous. I prefer to see something compelling to induce a buy or sell signal.

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