Willy--Chart could be at a pivot point, though I doubt it is, as the only thing that's going to pivot us up is a GOOD PR!!! Yesterdays fluffy one was probably "necessary" as part of the CTC/GC contract agreement...
Yesterdays surge up could have been just a deadcat bounce for the fall from 4.63 to 3.46 We fell 1.23, and bounced .53--an almost 50% deadcat bounce--not bad. We went from totally oversold the first half hour., to totally overbought in one session on the 10 day/hourly chart. So, we should see a pullback here...If we can stay above 3.71 and rally from there the chart still looks somewhat OK. If we close above 4.15, I'm actually bullish again. If we break below 3.71, I'd be putting my hard hat on again, as 3.46 will be tested. If that test fails, 3.22(The Big One) next, and if that fails I'll be loading up at around 2.80--2.90
This is still a very UGLY! chart...Scary describes it well also...The chart I posted yesterday was the best looking time frame I could find. The longer term charts are looking real weak.
I predict if we don't close above 4.00 soon(this week) on decent volume (and that's not going to happen today, as we have only 33K this first hour), it's time to buckle up for another bumpy ride...
BTW, I have to admit I'm feeling a little like a dumba**, as I haven't sold a single share yet, and I sit here every day watching my profits dissappear into thin air, but believe it or not, I'm not selling EVER!!! This rocket may have had the countdown delayed, but it's a "guarantee"(IMO) that liftoff will (sooner or later) occur...
GLTA,
