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Re: eelfland post# 73498

Saturday, 06/05/2010 5:08:21 PM

Saturday, June 05, 2010 5:08:21 PM

Post# of 157003
Well if you check the sticky chart the channel support broke at around .026 and would have indicated sideways movement or a increase in selling and may have been a good exit. As each support level broke more people sold until the big volume spike at .01. To me this indicates we have some serious support and if we come back down to that level bargain hunters will be buying it up. It is going to take something big to push it below .01 and we should see prices above that level for the next or so at least. A recovery could be around the corner but we are definitely not out of the woods yet.

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