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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (13874)	10/11/2002 4:29:18 PM
From: chowder	Read Replies (2) \| Respond to of 206361

Regarding EP, I'd like to share another perspective. There's still the risk the stock will fall again. We don't know what the court ruling will be. Since there's still some considerable uncertainty in the stock, profits should be protected. Today's rally was on weak volume. Prudence dictates that high prices on weak volume, don't hold. You've got a level of resistance coming up at 6.50 - 6.60. Most stocks don't break through resistance on the first try. You've also got a lot of overhead supply starting in this price range. That equates to a lot of people who are underwater on their position in spite of today's huge run-up. A lot of these folks will be more than happy to get out even if the opportunity presents itself. This should cause some selling pressure on the stock. I humbly submit that at least a partial position be sold to lock in profits. I think the position can be bought back at lower prices and you'll have the opportunity to do it all over again. If it doesn't work, you still have the other position to benefit with. Nothing goes straight up without some profit taking. It's important to know where those levels are and take advantage of them, in my opinion. stockcharts.com[h,a]daclyiay[pb50!b10!f][vc60][iut!Lh14,3!La5,17,9]&pref=G Good luck, regardless of your decision. dabum