Newstrike made great gains Friday closing up .38 to 3.28 on over 500K shares. It seems serious money is coming into NES in what looks to be an early beginning to the fall rally. The 30 day trade summary shows Canaccord as the largest buyer, purchasing (net) over 1.2 million dollars with a total of nearly $20 million flowing into NES in the same time period. The action friday confirms what we and others believed was a double top breakout forming. The upside breakout has a target of between 4.25 and 4.75 so lets call it 4.50. I expect a busy fall with more excellent results coming down the pipe!

NES continues to be out largest holding and we continue to expect above average returns

wamest regards

caliche

August 14th, 2011
Categories: Uncategorized . Author: caliche