Anavex Life Sciences Corp (AVXL)

[sab63090]

Tom:
I was able to read your post this morning and agree with some of your points, especially the resistance levels, i.e. upside at 12 appx and especially 13.50 (plus or minus)....I'm somewhat surprised that you avoided the much closer downside support levels, though & seem to miss the move above the 50 day day and confirmation of nearby support @ 10.50 (break above recent highs), the fact that 9'ish provided a multi tested low & double bottom; especially when looking at the weekly chart; and most importantly the clear cut double bottom back in May to June around the 7.50 level!! That level was outstanding using the weekly chart as the double bottom came across the 200 weekly sma. So going down to those very low mentioned areas of $2 to $4 seemed maybe a little surprising & not applicable (yet) to me.

I understand your doubt about the overall market and there are problems which can't be ignored either mixed with offsetting positives. Commodity prices seem to forecast a recession....so that is worrisome to me since I have followed that market for a long time and actually traded them, too! Gold and Silver have been unable to break resistance for many years...strange, right??