a little premature, page-6

"its not surprising that people will take profits along the journey"

Exactly! I would like anyone to display a stock that simply goes up in a straight line without retraces and profit taking. It simply doesn't happen.

Have a look at this chart and see what PEN did on the way up to 11c...with no funds taking 'investor positions' or cornerstone investor.

They were some mighty retraces along the way and I kept saying PEN was being "shaken". Shaken it was and then sold off it was, once it was realised what PEN had bought (the PACMAG "Sundance" [now Lance} leases).

We are now very close to the highs and not much standing in the way of breaching the old high. But what I said before I am sure will occur and of course we will have traders successfully (and some not so) taking profits on short term momentum positions. I am also sure we will have the ones that sell all or part of their holding expecting a pullback and then buy back in on a retrace. Good luck to the succesful ones, there will also be those that do the latter and miss the boat.

We will have up (blue/green) days and we will have down (red) days...hello that is the market :) ...have you chilled yet CEB :)

No commentary and I will leave the Fib and trendlines to your imagination. I can tell you though they have served me exceptionally well as I accumulate PEN.