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Re: oldguy post# 927

Tuesday, 01/12/2010 11:18:36 PM

Tuesday, January 12, 2010 11:18:36 PM

Post# of 1660
See what you think re: this 3-plus year weekly chart. (Apologies that I don't know how to actually show the chart):
http://stockcharts.com/h-sc/ui?s=MNAP&p=W&yr=3&mn=3&dy=0&id=p39915312595&a=187939180

*RSI moving into power zone. During last huge run, stayed there from late '06 - summer '07
*Last week, broke through 2 1/2-year downward trendline
*macd just getting started on positive divergence
*bb width tightest in 3 years + high volume
*A/D steady upward trend since OCT08 with no change in pps.

The chart took 3 years to build, so past highs won't be replicated overnight. Still, interesting to chew on for long-term investors. A few billion barrels of oil in the ground might one day justify a slightly higher pps.