Panaco Corp (PANA) Message Board

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Gold/Mining/Energy : Panaco Corp (PANA)

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To: T-Lo Greens who wrote (9)	10/14/1997 9:39:00 PM
From: Eakole	Read Replies (1) of 115

Tony, Thank you for your input . . . You're right, since 1944 PANA has been a consistent player in the $4 - $5 range at a mean of $4.50. Co-incidentally $4.50 (about) was the top of the high it reached in 1991. PANA has been in this bullish trend for more than six years now, and for the last 4 years its trading volume has been modestly though steadily increasing, however last week it had a relatively huge volume on the up-tick bringing the price to the uppermost of its 4 year trading range. If this is a breakout move from its present intermediate trend PANA's price could go to $7 and still remain within its trend channel; . . . but I believe it will go beyond. I also believe PANA's 4 years of tight trading in the $5 range was a stock accumulation and not a distribution. Given this attitude and at this particular time I will not short term trade, but would hold PANA for my long term investment purposes. Thanks again. . . eakole

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