I have done my analysis on this one using a WEEKLY chart rather than a daily chart. This stock has been sold off heavilly

from its highs, but spent a long time on its lows forming a base. The stock is moving away from its base now, and has recently

upped te tempo as illustrated below.

DISCLAIMER: These are my thoughts only and NOT advice as I am NOT a licensed advisor.

Please consult your stock broker for advice.

Below is a close up of the recent price action on a daily chart. You can see here the old resistance level of 50c has clearly

been broken and seems to be bouncing off it nicely. We entered the trade @ 53c on 7th of August 2003. Looking at the

weekly chart above for a target, we can see plenty of levels to take profits and hope for a pull back to get set again.

First level will be around 70c (32% profit if successfull), after that, 92c, then $1.25....I think we will just deal with the first

trade for now :o)

Update 19th August 2003: Here is an example of one of the frustrating things that can happen in the market.This company

released their annual report today, and in short, it was a POSSITIVE report, and yet a couple of shareholders decided to sell

the stock off instantly. This can mean one of two things, 1: These guys may have been expecting a better report, even though this

one was possitive. or 2: They may have wanted to create confusion and panic in the market, and scare people into selling their

shares, meanwhile they are sitting there buying them as the price falls, thus resulting in a larger parcel of shares at an average price

that is a lot cheaper than it was when the announcement was made. So what do we do about this? Well, thats a tough one to answer.

Here's what I am going to do, normally I would have jumped off straight away and looked for another entry, but this one fell too fast

and I couldnt get my sell order into the market in time. If the stock falls any further, I will sell at my entry level so that the only

loss I incur is brokerage fees, then I will look for another entry.

It's increasingly frustrating as this trade was travelling along quite nicely, and was aproaching my target of 70c (it made it as high as

62c) before this happened, so instead of a nice profit, we may have to get out square, if not a small loss :o(

Ok, this trade is taking forever, and I've had a gutful of posting trades, I think the lesson has been learnt here, so I'm gonna move this one to the closed trades section too.

 Its made the first two targets in aprox 6 months, 56% in 6 months still beats the crap out of bank interest :o)

You could feel reasonably comfortable staying in this one for the time being, the volume is still nice and consistent, not suggesting any heavy selling yet.

Weekly chart posted below.