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Thursday, February 23, 2012


GLF looks like it has a pretty strong price relative, but this is a very long base, only half of which you see on this chart. The prior high was 49.95, which is about where i put the top pivot point. It actually broke out about a week ago, but made a follow on move with volume today. One saying I have heard in the past is "the longer the base the bigger the move" but I have my doubts about that. this is a small cap oil caompany, and as a group these will go much higher if oil keeps going higher.

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