PDN.TO

Chart wise, PDN has offered a good looking top to what I would call novice charters, and they have taken it, but I think they will be kicking themselves when they see the big move. They topped in the 3.40 area but my interpretation along with watching Levell II, is that we have moved through to an area where the heavy layer of selling has disappeared and there is only traders selling and buying into a steadily narrowing range and spiking price. Of course, there may be a consolidation, but Paladin is the real deal, and it will take some very bad news and broad market motivation to reverse the trend, except for a decent consolidation which will be nothing but opportunity..

Continued broad market movement is building to a peak, and in connection with Paladin, I expect a consolidation, and the volatility is going to provide a good swing.

My present target is 4.50 but I will not allow myself to be surprised by a higher target and am ever watchful for a trend breakdown, of which I have not seen any indicator action that would not produce a double top in the worst case scenario.

Level II asks are sparodic, and gapping up, along with the low volume on the backfill, and the high volume on the recovery, from here a move of $1.00 to 2.00 dollars is not out of the question as an act of exuberance.

This remains to be a great trading stock and a good long term prospect for old highs to be reached and possibly surpassed at the markets whim.


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