Pinetree Capital-PNP-CDNX Message Board

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Gold/Mining/Energy : Pinetree Capital-PNP-CDNX

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To: PaperPerson who wrote (226)	9/28/2007 9:27:29 PM
From: Bwe	Read Replies (1) of 233

Michael, Thanks for the fundamental heads up re:PNP. The chart supports your supposition of a healthy NAV for PNP. Normal p&f chart scaling between $5-$20 is $.50 a box. I used $.25 a box to speed up the chart and provide a slightly different perspective: stockcharts.com The chart pulled back into O's to $5.75 and avoided a High Pole which is a very bearish pattern. High Poles are >50% pullback of an X column and is a forward looking p&f chart pattern. Look at column of X's with the 4 at the bottom. Numbers on p&f charts stand for months. The next O column pulled back >50% of that X column and for good measure, there was another High Pole in May. The Bullish Support Line (BLSL) was violated with a 3rd successive sell signal at $11.50 and if a person didn't get out at the High Pole ($13.25) they needed to sell on the trendline break. The break of the BLSL changed the long term trend of the stock bearish. So here we are with an X at $6.75 on the chart and a move to $7.25 would give a second buy signal off the bottom and would confirm the buy signal given at $5.25. This is a bullish trading situation while the stock is below the Bearish Resistance Line (BRRL). I'll discuss what a break of the BRRL would mean to the long term trend of the stock in another post. Bruce

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