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Microcap & Penny Stocks : Chaparral Resources - CHAR
CHAR 10.390.0%Nov 3 3:59 PM EST
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To: robert scheb who wrote (44)11/6/1997 7:54:00 PM
From: Tom Genna  Read Replies (1) of 127
 
Rob, nice showing today. The price gapped higher at the open this morning and held nicely. Price, however is clearly through the upper bollinger bands on both the daily and the weekly charts. Volume still greater than the 21 day average. My stake here is small so I don't intend to take profits but I can only imagine that the interest in the stock is partially speculative.

Even though I fancy that I have a grasp of the potential in this area from all that I've read in the news and in these threads it's the fact that there is so much interest is the frontier of K* that I would expect a lot of sympathetic action. That may be the case here. Of course though a lot of the trading may be technical it still doesn't rule out possibilities that we just aren't privy to as yet. There, those statements should cover my bases. Got to be careful what you say. It can be pretty tough out here at times.

Short term price following indicators for CHAR are still pointing up (TCI, MACD, DirM) and when they slow or turn there may be some profit taking. Don't see enough fanfare to think that shorts will pound it but you never know, we may get there yet. The thing to remember about shorts is that they are shares that have to bought back. Their opportunity is created by overbought conditions and the oversold conditions they create are temporary buying opportunities if the story is intact. Now if I could just come up with a good enough story.....oh well, back to the charts..........tomster
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