EDIT: Oh!! Too late, already all in as of Thurs...
I hope you got it right! Regarding short interest, look at this.
06/30/2014 Short rpt: -1,947,304 (3.55%)
Settle Dte Short Int. % Chg. AvgDlyVol Day2Cvr
06/30/2014 52,977,138 (3.55) 2,930,580 18.08
06/13/2014 54,924,442 5.77 4,584,194 11.98
05/30/2014 51,928,544 (0.51) 4,435,270 11.71
05/15/2014 52,192,669 9.12 12,507,927 4.17
04/30/2014 47,830,885 1.99 4,333,931 11.04
04/15/2014 46,897,990 3.47 5,058,983 9.27
03/31/2014 45,324,169 3.93% 1,714,905 4.19
03/14/2014 43,609,264 (2.04) 16,588,149 2.63
02/28/2014 44,515,710 1.56 5,417,515 8.22
I'm also concerned as I took a deeper dive on that double bottom thing and really didn't like it. My main concern was the rise between the two bottoms. Yes, it doesn't have to be all that "pointy" and some broadening is common, but our broadening seems rather extended.
That had me step back another pace and I see a risk of an inverted cup and handle - that's bearish. The "bowl" of the cup is a bit raggedy for my taste, so maybe not, but some bumpiness is normal - just don't know how much is too much.
EDIT: Long-term changed to: Medium-term falling resistance is now around $1.42. It falls ~$0.0125/day. ISTM getting a confirmed break above that would be a good place to add. Most of the oscillators I watch are starting to recover from depressed conditions, so there's a decent chance we do have a good up leg coming, but right now they are all just heading towards neutral and not yet suggesting strength.
Lower Bollinger suggests some help - price is pushing on it and it's common to have a price-reversion to the mid-point of the upper and lower limits, $1.5765 and $1.3050 respectively right now. It's also common, but less so I think, to have price just go sideways and the Bollingers tighten around that movement.
Keep in mind we had a "death cross", 50-day moves below 200-day SMA, on 7/7.
I've been very wrong many times and right sometimes too. I hope you're right and I'm wrong here.
MHO,
Bill
