littleriver

PEIX "TALE OF TWO BUBBLES"

NASDAQ:PEIX   PACIFIC ETHANOL INC
208 1 1
The tale of the of two bubbles. Those who want in and those who want out.
I see a trading opportunity. Price is approaching a level with the potential
for a lot of supply. It has made one approach already and failed. This time
the bulls don't have the momentum they had the first time. I suggest a stop
just past our last top 16.30 and see a conservative first target of 12.50. I
suggest an entry just as price leaves the 15.80 - 16.30 zone.
Obviously missed the supply point on this one but I will not chase it . Price often falls hard after strong moves on volume on this one. I believe a pullback is at hand but a reversal I doubt as bulls are clearly in charge.
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