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Author Topic: **ASCENDING TRIANGLE BREAKOUT**
jr
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EGO Eldorado Gold Corp (AMEX)

MACD crossed 0.00 last week and it closed outside of the triangle today, confirming a breakout..

(i couldn't post my annotized stockcharts chart so you'll have to play connect the dots on this one)

2.65 - 2.10 = .55 + 2.60'ish = Target Price at least $3.00

upon doing some quick DD i found out this company has ZERO DEBT and almost 90 Million in cash reserves on hand.

also, EGO was just highlighted as a strong buy by these guys: While some bulls try to convince themselves that record high oil prices no longer matter, Ed Bugos is keeping his eye on gold and expects the sector to rally into September. Review the gold charts that this expert likes best for a sector rally. Read about Anglo AU, Eldorado EGO, Gold Fields GFI, Glamis GLG, and Harmony HMY.

GLTA!!!

[This message has been edited by jr (edited August 31, 2004).]

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SilverRain
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Here is a similar pattern here with LPSN:

This just recently broke recent resistance and looking to climb higher.

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jr
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nice find SilverRain, another nice Triangle. unfortunately, these stocks couldn't have picked a worse time to breakout due to the holiday weekend. there just isn't enough volume in the market to sustain a breakout. hopefully volume will come back and the breakouts will resume after next week. i'm still holding EGO and am watching LPSN like a hawk.
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jr
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LPSN gonna go...
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SilverRain
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Yes, I am following it. I entered a position of 1000 shares at 3.06, so far looking good. Hopefully some strong volume today.
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SilverRain
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LPSN broke out nicely, very good profits. Here is the updated chart as of Friday, September 17th:

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