Like many stocks where volume appears out of nowhere, the indicators on the chart are basically useless because there is no history to compare them with.
Previous highs are the only indication we have to go by at this point in time until more volume comes in to help give us better comparison values.
CNEX-Hey mesenger. I did a chart for you on this one over the weekend. Looks like they've got news this morning, too.
CNEX(5.50) Cannon Exploration Inc. Announces LOI to Acquire Gold Property
Monday, May 12 2008 8:30 AM, EST Market Wire "US Press Releases " TORONTO -- (MARKET WIRE) -- 05/12/08 -- Cannon Exploration Inc. (PINKSHEETS: CNEX) is pleased to announce that it has entered into a Letter of Intent (LOI) agreement with IPMG Inc. , an Ontario mineral resource exploration company, whereby IPMG has agreed to grant to Cannon Exploration Inc. an option to purchase up to 100% interest in the old "Queen Alexandria" gold mine, located in Northern Ontario . The transaction is subject to a number of terms and conditions, including but not limited to, completion of satisfactory due diligence and the execution of a definitive option agreement. About Cannon: Cannon Exploration is positioning itself to emerge as a pre-eminent resource exploration company in the North American mining industry, and particularly properties located in preferred mining districts in Canada . Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. Contact: Investor Relations: 1-866-365-4724 Website: http://www.cannon-exploration.com
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