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Re: Ionized post# 57633

Thursday, 07/16/2009 10:59:16 AM

Thursday, July 16, 2009 10:59:16 AM

Post# of 165854
If you watched ClayTrader's video, our lod yesterday was right at the trend line of support for SRSR. It went down to that point and no lower. In the video, he said don't hate him for saying it, but he said from a technical perspective, SRSR may be due to go a bit lower. He outlined .095, .082, and the .05 50 day MVA as levels of support.

The point I'm trying to make is that it appears we are seeing some consolidation, which I think is healthy. But, the larger point I'd make is that I think we are seeing a lot of buying and selling based on charting and not based on the reality we all now, which is that you'd be a fool to cash out of SRSR now.

I think RedStick made the point that it's not the green days that matter, it's the red days. I think it will be very bullish for us if we can hold above that .095 support level.

If we don't hold that level, well, I'll have an order in to buy another 50,000 shares.