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Thursday, March 24, 2011 3:01:07 PM
yesterday's candle was a long red one that followed the spike to .073 where the PSAR served as resistance. this retracement could have been easily inferred as the 5MA had already crossed below the 10ma prior to that move up, a clear signal for either a pause and consolidation or a pullback -- nor did the 5ma turn as this bounced from .05 to .073.
there's also been some sharp negativity in both the CMF and chiosc. someone is selling out of available inventory.
but.... williams and fast sto are both turning up and coming out of oversold conditions. buyers have stepped up. i think this trends sideways and re-consolidates here between the 50ma (.047) and 200ma (.03). recent shares have to be absorbed into both the stock structure and the chart as the float changes hands from weaker to stronger holders.
this has the look to me of a good basing area -- hence a buy op. but hey! you already knew that, didn't ya? LOL!
good luck to you and ALL
rich
p.s. hope all went well in court!
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