Group, Tomorrow could be a banner day for Kimber.
From a technical standpoint there were some significant
barriers that were broken through today. The battle
between the longs and the shorts rages on,
but my take is that the shorts are running out of ammo.
They couldn't hold the line at 144, then 150 fell.
Now we'll have to wait an see what happens here at 160.
Remember, these guys are still short 1.2 million
shares. Eventually they will panic and there will be a
short squeeze. Might see 175 before the weekend. Tomorrow
should be interesting. If we break past 170 we might
just be ready to really go, Remember the words of the great
W.D. Gann: "When a stock (or commodity) advances into new
territory or to prices which it has not reached for months or years,
it shows that the force or driving power is working in that
direction. It is the same principle as any other force that
has been restrained and breaks out. Water may be held
back by a dam, but if it breaks through the dam, you
would know that it would continue downward until it reached
another dam, or some obstruction or resistance which
would stop it. Therefore, it is very important to watch old
levels of stocks. The longer the time that elapses between
the breaking into new territory, the greater the move
you can expect, because the accumulative energy over
a long period naturally will produce a larger movement
than if it only accumulated during a short period of time"
…… See you tomorrow, Bull