Greg, you are a much, much wiser man than I.
You and I are two examples of what to do with a powderkeg of a stock like PacNet.
You held though the doldrums and added more near the lows when the Princess starred in the Royal Parades. Your investment has been rewarded, on paper, at least.
I bought and sold in the 40s, only to buy back at much, much higher prices. My choices simply stunk and were particularly galling moreso because I really like PacNet's future. I simply lacked patience and got greedy as I saw other stocks run up in the past two weeks.
Looking at the daily chart, this much is true: PacNet will hit highs and consolidate from four to 11 days.
This latest consolidation, imho, hasn't provided us with an adequate idea of what the new trading range is. However, if PacNet does trade between the recent high of 104 1/4 and the recent low (today) of 65, that would be promising.
A range like that, along with a 3 million share float, would be a very bullish indicator if and when a breakout on great volume occurs. We're talking about a breakout that could go as high as 133 in the near term.
All of my rambling here is purely speculative, of course.
Like you, Greg, I don't plan on selling any time in the near future, if at all in the distant future.
ps -- The number 133 is ironic for me. The last time I saw that number, it was when @Home broke out on major volume over its resistance of 133. I saw a ceiling at 158. With the mania of recent weeks, @Home eventually went to 198 early Tuesday morning. |
