Tuesday, July 29, 2008 7:55:31 PM
My thoughts on NNRI chart. The breaking of .55 (a previous low in Mar 2007) and of course dropping at one point to .39 cents confirms a descending triangle breakdown. A break(down) of a descending triangle , especially when the trend of the stock is downward means more downward pressure.Unfortunatley there is very little support until .19 cents.
even the volume of downdays has been "heavier" where the heavy volume days are "selling" days.////
I was thinking to myself that posting this would be egotistic but honestly the "charts" have been spot on with this puppy. I think more the purpose of this is to say : hey some time it is not about testorone and rah rah rah, but an honest summation of the facts. Even if one (me) gets slammed.
JOhn
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