We’re off to a pretty good start with my newest idea- NF Energy.  Picked at $.69 this past Wednesday post close, the stock has since seen a high print of $1- net 45% in the early going from bottom to top if you traded it perfectly.

On Thursday the stock traded the highest volume in its history and a penny below the highest price. Investors are already recognizing the value this one offers with $.10 in EPS last year. With the growth they should deliver in ‘09, value wise anything up to $1 is a bargain basement value in my view.

However, value is not always the immediate story. The chart plays a role as well, so it’s worth taking an early look at the chart and starting to think about the possibilities of a pullback. After all, this little stock has come a long way in a short time.

Here’s a look at the chart over the past two months. It started out as a $.20 stock.

It peaked out with a five fold move in short order, so a little pullback could be in order simply on a technical basis.

If it were to pull back, I’d be looking at the $.70 level as the ideal entry point.

Not only is it the 38.2% retracement level, it’s also the point at which the stock would pull back to the uptrend line. As long as the stock does not trade below that 45 degree angle line, it’s still in an uptrend.

I don’t know if it is going to happen. It certainly has traded up to this level quite easily. It might just continue higher. On a value basis, it’s entitled to.

I only bring this up to help investors have a plan for a pullback. It’s hard to say what’s going to happen.

Also, this posting will give you an opportunity to ask any questions you might have about the company.

Comments and questions are welcome.