After initial profit taking kicked in yesterday on 64,000 shares, additional profit taking came in today on less than 14,000 shares. Moreover, we did not reach a new intraday low for the selloff. With the stochastics well out of overbought territory and downside momentum subsiding, one should look to build a position at current levels of around $2.25. There is substantial profit to be made if we just retest the previous $2.85 high. It is my belief that we will actually pierce through the all time high of $3.00 which will subsequently result in shares soaring shortly thereafter.
