Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: Naibob who wrote (6729)	4/13/1999 11:24:00 AM
From: keith massey	Read Replies (2) of 62348

Chief or Kevin could probably answer this one better since they have been following GLE very close. I was in at $4.25 yesterday (posted) and out about 10 minutes later at $5.30 (sold to soon since a couple minutes later it was above $6). In this case I would guess it is the calm before the storm. Often a stock will pull back slowly on decreasing volume for several days after a huge volume and price spike before another high volume jump. The pattern goes by many names..e.g. the loaded spring, pennant on an uptrend, etc. etc. I can't say for sure if that is what is happening to GLE but I can give you a trillion examples of similar patterns in other stocks. The most recent that come to mind are that have been mentioned on the thread are US and VNE (Jan. run). Of course this rule is not set in stone and is often broken (e.g MCF). However it is a pattern I go looking for and then wait for the next breakout. Best Regards KEITH

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