PEIX Update

PEIX is a C&D trade that many members have made a lot of money on and have been eager to re-enter the trade on a pullback. Just last Tuesday I updated PEIX and said that it had NOT pulled back to where I expected and urged caution and patience and wait for a proper pullback before entering this trade.

It turns out, that was good advice and we still may get a decent entry.

Here's the original and current long signal, still a good entry reduces risk and increases probabilities, we bought the first pullback to the 10-day yellow moving average and saw a 100+% run, I said the next pullback should be deeper and close to the blue 22-day moving average, the pullback to the 10-day simply wasn't deep enough. As you an see today, PEIX lost over 6% and 3C is confirming the move down. Perhaps somewhere near the blue moving average accumulation will build and we'll get another 100+% move up. PATIENCE PAYS!