Thursday, April 3, 2008

Today's Top Gainer: CEI

One stock I've been following for quite some time now (see my earlier post on CEI) as I took position on this last January 18 after the stock split. Turnover after however was very slow. It was a wrong decision to enter then as the stock hasn't broken out from any pattern. I was just anticipating that the handle of the cup formation was being formed from what appeared to me then as a descending wedge. Today, after holding the stock for more than 2 months, I decided to post sell my position at 0.08 prior to my meeting at 9:30 am only to find out later that it went on a rampage today. Whew! Talking about timing huh? Well, am not sad at all as this stock has gone out of hibernation and perhaps on its way to forming this beautiful cup and handle formation. Breakout point is estimated around .01-.011. This stock could be very rewarding when that happens. With the volume exhibited today, maybe it's not yet late to join the ride tomorrow for Crown Equities could be a jewel in the making.

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