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smeatz

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smeatz

Re: None

Thursday, 11/05/2009 3:03:39 PM

Thursday, November 05, 2009 3:03:39 PM

Post# of 52074
Technical Analysis Update: Two afternoons ago as the stock hovered around .19 cents per share, someone asked me "where to from here?". I replied...

"Where will it go from here?

Actually, it may head "south" or at best, "sideways" for a bit as it consolidates at these new levels. I'd feel comfortable if range traded for several weeks between .14 and .19...with the next break out above .19 to see .28 / .32."

Two days later and that is exactly what we appear to be seeing. I would further add that I strongly believe the stock will remain around these levels for a while yet ( several weeks) -- even if it rallies higher then falls back to the current range.

Ultimately though, this type of trading activity augers well for future advances in the already 'clearly established' upward trend.
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