Wow... I am amazed at how quickly the mood can change on PNA....

Wow... I am amazed at how quickly the mood can change on PNA. One minute we're excited about breaking through 40 then two seconds later we're heading south for 30. I guess anything is possible.

I thought I might add my 2 cents today, strictly my opinion and I admit I have been very wrong before. Who knows... third time lucky?

I have been scanning PNA over the past year and I noticed back in August 08, we had a similar day where we lost 6.94% and the red candle looks EXACTLY the same after a week of strong gains. Interesting to note that it gained 11.94% the next business day. PNA went on to hit 92 cents from 67c soon after... ahhh success stories.

I think PNA is going to post some more strong gains this week. I personally favor the Directional Movement Indicator and ADX, these both look great at the moment. I think the drop on Friday was merely profit taking. The SP hit 36.5 and fought back to close at 37 (.37/.375)

A Bloomberg article recently posted that AMP is selling govt bonds and injecting the money into cyclical stocks and they're bullish on material stocks. Coincidence that they now have a 5.2% holding in PNA.

The price of copper is sitting at 252.60/253.40 spread... massive gains recently and holding at the current levels... The outlook is INSANELY more colourful than a few months ago.

So here is my bullish call on PNA. I won't make price predictions or even attempt to call a rally but I will be laughing like a shark next Friday afternoon.