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Friday, November 30, 2012 5:49:38 PM
The collection of charts below chronicle support and resistance levels of the last several months.
The key is volume and today's volume should be heeded. Joe Granville, the guru of technical analysis said "Volume precedes price." Granted, today's volume and the recent volume spikes don't add up to much in dollar terms. Nor is the volume near the levels of active days of the Pink Sheet days. But it is still a flag indicating someone is interested in buying despite KMAG being a Grey Sheet stock.
Any claims as to why, who or what for, is conjecture, propaganda, hyperbole or pseudo science. The fact is that in the last two months the majority of higher than normal volume days also had large intra day price swings to the upside.
I could guess that on these days someone was buying relatively large amounts on the ask. Any other explanations are guesses too.
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