I believe there is a lot of money on the sidelines, waiting and trying to figure out the the implications of the DEC acquisition. The stock appeared to be slightly under accumulation last Thurs, and Fri. That's according to my charting service - (Worden Sys 2000). Therefore, I think the merger is finally being viewed as a positive. I'm sure that once the funds see the 'Vision of EP', they will buy like crazy.
Since we crossed the 50DMA and 10DMA, I expect a short retreat to 34 then move to 37.5. If we close above 40, the look out Loretta! Here we go. I just hope I can buy a few more shares before it runs away.
I could use it, cause I got killed at the end of Oct.
Good investing,
Duncan
PS: Disclaimer, I've been wrong before...and will be again. |
