Saturday, September 01, 2012 1:29:07 AM
Condition Set:
1. ChiOsc (money momentum) crossover (green over red)
2. CMF 12 (High End [Retail] Money) positive (crosses signal line at 0)
3. MFI 12 (Smart Money) > 50
The 3rd run was the last attempt pre-SEC lawsuit filing and had a "flash in the pan" confirmation just prior to. The last rejection was in July.
We've broken the outer Symmetrical Triangle and are testing the support of the inner Descending Triangle.
Agree that the $1 area has been solid this go around and I note a similar bottoming to MFI 12 that occurred prior to previous pops (Jul/Aug '10 & Sep/Oct '11). This stock has always had to have "artificial help" for any sustained runs. Since Jan, we've had substantial bid support at the dollar level but no sustaining momo push (ChiOsc + PVO)
Having said that, with/without "help" I see 2 probable courses as JBI recovers from the Jun "Death Cross" :
1. $1.00 level holds and JBI tests up to $2+ in October (in line/adjusted to May assessment #msg-76117946 )
2. $1.00 level breaks and JBI looks to bounce off the $0.70 range beginning 2012 (in line/adjusted to August assessment #msg-78604814 )
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