DennisG., I make no predictions about short-term directions of this stock, but longer term CREAF is following a pattern often seen.
Basically if you chart CREAF at its weekly friday close, you see that two weeks ago CREAF hit a new yearly high the week of Nov.10-14th. More often than not, good news follows good news for a stock- i.e. the reasons that the stock hits a new yearly high will continue, and over the next 6-12 months a stock will hit multiple additional "higher highs".
This year I've only had one stock , Gasonics out of about 10 stocks that I track hit a new yearly high at around $21 in Jan 1997, and then "fall out of bed" back to around $10/share (although it did go back to $21/share once in late summer). The other nine such as Northern Trust, BMC Software, etc., hit multiple new yearly highs.
So I would not bet against CREAF too long,and be careful jumping in and out of CREAF, as you may miss a big move....
Sincerely,
Doug F. |
