I looked at the TPEGs many times last week. Every day I tossed 'em out because the distribution of trades seemd skewed towards selling. Friday was the first really positive day on the momentum side. There was a nice steady run all day. None of the trading BS.
I'd look to the warrants, to maximize leverage on further price advances. There exercisable around $5, no?
January's $4 1/4 seems to be the last resistance, so if the price gets through that, there should be some decent upside.
One caveat...from TJoe EM on Sunday...ubject:
Societe Anonyme - TPEG
Date: Sun, 25 Apr 1999 19:48:22 -0400 (EDT)
From: Societe Anonyme <think@tokyojoe.com>
To: Societe Anonyme <tokyojoe-list@tokyojoe.com>
Posted by: TokyoJoe
Too much hype , time to take profit ,,
TA says otherwise. We'll see if pulling his endorsement makes a difference tomorrow, The 5-day should show if a selloff is coming...if a selloff starts Monday, look for a bottom around $3 1/4. If it runs back up from there, wait to see if resistance materializes @ $4-4 1/4... |
