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Gold/Mining/Energy : PEL - Purcell Energy -- Ignore unavailable to you. Want to Upgrade?

To: Chispas who wrote (123)	12/3/1999 9:44:00 PM
From: Kevin Hamlin	Respond to of 165

I have to say that PEL has one of the most classic looking charts right now. Being a person who relies very strongly on technical analysis, this chart pattern that is forming is one of my favourites. PEL has an almost perfect ascending triangle forming, showing the stock is cranking tighter and tighter. For those not familiar with ascending triangle patterns, draw a flat (horizontal) line across the $3.40 resistance level. Then draw a line underneath the recent daily lows until it comes up and eventually joins the horizontal line. What is important in this pattern is that "lows" are progressively higher. We retested the $3.00 resistance the other day. On today's retest, the support was now there at $3.20 (yes, $3.15 was touched, but only for a couple of shares. $3.20 is more representative of today's support level.) Furthermore, the retest was done on low volume...another good sign of the internal strength of the stock. As the lows move progressively higher, the stock tightens. The resistance level often gets pressed against again (as PEL has done at $3.40 twice now), and then it eventually breaks, sending the stock on the next leg of its run. Many times this break and run happens on the third press of the resistance, as there is no further room left for retesting on the downside. Although some might only look at the price and not be excited about a "down" day, I'm more than happy with the nature of the retest, as it showed the internal strength of the stock and that it was in fact tightening nicely to soon begin the next leg up when eventually the $3.40 resistance goes. Again, in the classic chart scenario (which PEL so far is exhibiting in spades), the $3.40 level represents the 1/2 way point of the overall recent run. If the overall run is taken as starting from the $2.60 level, then that makes for a very nice upside from here! On top of that, Levesque was again the lead buyer today, picking up another 23,100 shares. This makes for 270,500 shares bought by them alone in only the last 5 sessions. To put it bluntly, they know something. Further evidence of this is that they were willing to pay up in the $3.40 range too. Given the nature of their eagerness, I would say that some news must be fairly imminent. Everything I see points to this stock going significantly higher. The capper will be to finally find out just why Levesque is so eager to buy these past 5 sessions. -Looking forward to an early Christmas! Regards, Kevin

To: Chispas who wrote (123)	12/8/1999 3:44:00 PM
From: Kevin Hamlin	Respond to of 165

I still say there is something good about to happen with PEL just based on the heavy accumulation by Levesque and Haywood. As far as knowing the news to come, I always work on the assumption that I'll be the last to know. Those who do know though, show it through their trading, and Levesque and Haywood are both speaking loud and clear. In the last 8 trading sessions: Levesque is now up just shy of 1/4 million shares. Haywood is now up 245,000 shares, with today being one of their strongest one day purchasing days, so far up 42,000 shares...sold none. This buying is just far too agressive to be a "casual interest" and you don't take down that many shares on a "maybe". On top of the trading, I've been watching the depth pretty closely. I wouldn't be at all surprised if they were stacking the offers a bit trying to take shake out a few more shares. Very nice trading Levesque and Haywood. You're doing a good job of getting the shares you want, and as a trader I have to admire the skill with which you're doing it. Given the sheer quantity you're taking down, and the agressiveness with which you're doing it, I doubt it will be long before we (gladly) know the reason why. Regards, Kevin

To: Chispas who wrote (123)	12/8/1999 4:45:00 PM
From: Kevin Hamlin	Read Replies (1) \| Respond to of 165

Ok, they're officially after our shares. PEL was going to close at $3.05, but who comes in with only 10 seconds left in the day and "makes" the closing price? Levesque, the same guys who have accumulated 1/4million shares in the past week. They saw the thin bids, tossed a couple of shares right at the close, and made PEL close at $2.96 with the obvious purpose of trying to make the stock appear somehow weak. This is a game they're playing. Caught ya Levesque! Regards, Kevin