Sure Fred, if you pull up say a 1 year and 4 month chart you'll see the area right before the 52 week high last June. Today is only the second day we've bumped against it and it'll take a little while to work through it, maybe a week or so. PK stocks have a LOT of traders and just a few days ago this was at .022 which is a 45 percent return in a week or so for those who bought a week ago and it's normal that some of them will want to lock in some profits. We'll likely see a little pullback which is quite normal after the run PBLS has had. There's a small battle going on more than likely between the shorts and the longs, probably just like it was last year. Short interest increased quite a bit last month and is probably 4 or 5 times that now. The difference I believe is that this year while we're wrestling around close to the 52 week high, is that folks buying now are buying due to fundamentals (at least as much as they can figure out until the 15th) and shorts are shorting just because it's close to the 52 week high range.
Me, I believe the pps should be much higher and I never have been much good at picking entry points (.031) so I usually buy where I feel comfortable and just let it sit. The 50 and 200 just started trending up, the money flow looks good, the accum/dist is still heading up, the obv still looks good, so I'm feeling pretty comfortable right now. Can't find any reason per the chart to sell it now unless you thought you might could get back in a couple of tenths cheaper on a big trade.
We'll likely see some increaed volatility between now and the 15th. They've been around since 1978 and they say the figures will be out then and I pretty much don't have any reason to think differently right now.
All IMO and as I see it.
