Anavex Life Sciences Corp (AVXL)

[sab63090]

Hi Tom, RE: AVXL

I'm back and apparently my arteries are now open after ultrasound today..Took over 1 hour..probably need more time to recover.

Wow! I was surprised to read your assessment of $4 to $5 with a crash still expected.....we've touched the 50 day today which is support, however lower than I thought it would go. I would now use the Weekly Chart for a better intermediate term perspective, You might give credit to the bull case with the double bottom at the 200 weekly sma (7.50 area).....if you however concentrate on the daily chart, this 50 day sma should hold now or, yes, we go down to re-test the 9.50 level where the price found prior support and reversed.....my belief is that it holds above 9.50....I'm never embarassed when I am wrong, I just adapt.

Best, Steve