I should clarify my earlier statement about the indicators. There's a time and place for everything. GB has spent a lot of time studying these $1 boogie plays, which WLT is a nearly text book example. In these type of plays, it's all about price.
The rules of engagement in these boogie is that first and foremost, the market can't be crashing. We learned that the hard way.
Secondly, the price needs to come down to the $1 mark from above, without hitting the $1 mark in the past. If it has, it needs to be a long, long time ago.
Thirdly, it will almost always get a bounce on the first touch of 20% or better. The next touch may get a bounce, but usually not as good as the first.
Fourthly, if $1 fails, most of them will get a secondary bounce at the .80 mark.
