Plastic2Oil Inc (PTOI)

[Imperial Whazoo]

The 200 day held up quite well, thank you very much.

I personally think that what you said you expected to happen, in a post you made earlier today, was incorrect.

There is a battle going on to keep the SP above the 200dma, and IMO, it doesn't appear it will hold.

Earlier I expected it to be impenetrable, but now it looks like it is too weak

The 200 day is at 1.59 and we closed a full 10 cents above that, at 1.69. Well above the 200 day. And volume was the lowest it has been since July 12th (23 days).

This thing isn't "too weak" to hold. Fact is, this feeble stab at taking out the 200 day is what is too weak, for crying out loud!!

Look folks.... JBII is hovering just above the 200 day. That is correct but the amount of force behind the efforts that are apparently being made to take the 200 day out can not exactly be characterized as though there is a lot of momo causing beads of sweat to break out all over the foreheads of the guys putting in the effort, LOL.

The volume, which is the force behind a move, is not only tiny, it is all but non existent. As pointed out above, JBII's volume today was the lowest it has been since July 12th (23 days).

This puppy may penetrate the 200 day, but if the volume on such a chart behaviour is as anemic as it presently is, then it is more likely to be a head fake than a genuine breakdown, IMHO.

You want to take out the 200 folks? Fine with me. Just show volume.

A good rule of thumb is that, when a move has had the volume associated with it evaporate, then the particular move in that direction has dried up.

Stated another way, when you see several low volume stabs at a breakdown, which JBII breaking below the 200 day would be, and when none of these stabs succeed and when none of them generate meaningful momo, then what you are looking at is a dried up move.

A move that has run out of steam.

If JBII is NOT punching out the support of the 200 day and if there is all but no volume at this level, it is, IMHO, far more likely that the next meaningful move will be up rather than that there will be a discovery of a large pool of players that were just twiddling their thumbs before deciding to dump a lot of shares.

And anyway, I want to see the SEC filing, which is right around the corner.....

.....or volume indicating a move has legs.

Either one or both. Thats what I'm looking for.

Imperial Whazoo