Energulf Resources Inc. ENGFF

TA AND CHART FOR MONDAY

[zeta]

Hi -- Sorry, I was called out of town on a family emergency for the last week or so. I think ENG is looking very bullish, especially when you consider the general downtrend in most stocks. I think there is a good chance that the buying spike back in late June was informed buying and after the pullback on low volume, ENG looks ready to run again. The candle on Friday was a very bullish long white candle and it was nice to see the volume increasing . Also, note that the stock gapped up on Friday - a good sign that the buyers are back in control. The candle pattern of the last 4 candles is a 3 Rivers Morning Star pattern and is very bullish as well -- this certainly looks like a bottom reversal pattern to me and I would expect some serious upside action this coming week. I think there is something going on with ENG with the drilling etc -- as outsiders, we can never be sure, but the chart is telling us that something is coming down and it looks like good news to me . I was buying more on Friday and will increase my position as it crosses the $2 mark. Do not be too surprised if we see another gap up on Monday. ENG is still a risky play, but anyone still left in the stock knows what the rules are -- big payoff if they hit -- 50% off the top if the hole is a duster - I like the look of ENG and we have a good chance of doing okay on this one. Will post an up to date chart each evening and during the day when I have a moment. Good luck with this one. Here is the daily chart. Zeta