KAT Exploration Inc (KATX)

[Dragynn]

Actually it CAN do it, saying it can't is ignoring all the facts, period. It has now violated the 50 day exponential moving average in a solid way at .052, and has been trying to form a bearish hammer all day. There may be some psychological support at .05, but that's typically only dedicated longs, and there's only so much money even they will throw here. And .03 is more optimistic than the chart, .02 is more likely the total downside without some material event occurring. I like KATX, but if you close today below .052, all bets are off. But I will definitely take some cheapies in the .02's for the longer haul...junior miners in general getting beat up the last couple days, it's definitely gut-check time.