Looksmart Limited (LKST)

[andy20020]

Hi Ollie .. money flow has never been of interest for me - but I was certain I saw a bearish wedge for LOOK last three days ... one that had an initial target at $2.14 and may extend to $2.25 odd (200EMA from memory). If you look at a Dow chart you'll notice a big support line at 10k ... I'm picking a rally here soon ... obviously if it doesn't rally !!!!!!!!!!!!!!! Essentially Bush and the (US economy)needs a rally and the market needs the economy to rally also -smoke and mirrors as usual. I'm still watching LOOK for either the double bottom or the washout to $1.50 ... but in the mean time I notice a large number of Oz oil and Resource stocks are oversold.

Regards