CXTI:
The interesting thing about this chart is that each new PR has fewer and fewer believers and the spike is shorter and shorter and shorter. The amount of time it takes to get back to where the pre spike price was is less and less. Now, it is down to one half hour.
We are seeing lower and lower highs, but NOT lower and lower lows. What does this mean? Well, it is hard to say. I don't recall seeing a chart exactly like this before. Clearly, $.90 is very strong support, but overhead resistance is staggering.
One of two things is going on - as we all know. Either someone with a lots of shares is totally convinced that the numbers are bogus and/or somebody with a lot of cash is willing to buy at $.90 no matter what. The irresistible force is gradually meeting the immovable object. At some point, one or the other is going to give up. When it does, it will set the stage for the next 6 months IMO.
If I had to guess, I would say support will break and it will crash really, really hard. The reason I say that is because whoever is selling is MORE courageous and MORE determined than whoever is buying. Once people like me see support break, then it is over (short term) whether the company has valid numbers or not...IMO.
Assuming that happens, I wildly predict that a new bottom will form around $.50 unless the company says something horrendous - in which case, who knows where the bottom will be.
I'm still long, but if support breaks, I will probably sell my shares (assuming it doesn't happen too quickly) and leave my daughter's in her account - hoping for a miracle.
Len
Warren Buffet: 5 minutes and 17 seconds of pure, unadulterated, bulletproof, flawless logic.
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