PEIX-Finally

PEIX has been mentioned so many times over the last 2 months I can't count them all, January 30th  (at $1.06) was the last date it was brought up as a trade idea and not much had changed since then to change the trade idea, it was just a matter of patience.

Today...

This is a large triangle base so I'd hope to see more follow through, the trade from Jan 30th is up 25% and 21% today alone.

 PEIX is a perfect example of how technical patterns have changed and I've touched on these descending (bullish) wedges often. They use to break out right at the apex, they don't do that anymore, usually there's a false breakout and then a period of lateral base building; SRS is in a similar situation now.

 The last couple of days show the middle men stocking up for the run on a leading positive divergence and thus far we have good confirmation, although my general rule of thumb for stocks like this (low priced) is to take at least some profits on any double digit 1 day move. I would like to keep a trailing stop on this as well because the last run was over 400%.

 Here's accumulation on a 30 min chart, the first zone produced the 400+% run, the second zone is the pattern we just broke out of today.

Here is that pattern and here's the trade idea at the green arrow.

There are a wide range of choices for trade management and stops, so if you are in the trade, just email me.