kfc,I'm having a hard time following
your sentence structure. so I don't want to misunderstand what you were trying to say.
First ,I see IPIX showed low volume for the day, so was that bad or good. Then I see the bottom at 32 has turned upward, and bounced high enough that I can do some new math measurements for the chart. and when you look at the bottom looking like its now starting to curve upward, that looks visually nice. and that's about all I want to say for now. we got some follow thru today that got price into the 40's. I'll take that for now.
The finish target for the technical move might be the mid-60's,(as shown by the Fib retrace tool) and if it just climbs there on technical movement, ahead of any news, I might feel like trimming some trading shares there, because I just own too many now.
IPIX price action, since Ive been following it again in the last year, has a clever way of making you think a bottom has been settled, then makes a nice surge, only to Collapse it down to lower lows, and this pattern, of sleight of hand, showing a bottom zone in the 70's months ago, then it became the 60's, then the 50's, then the 40's and now the 30's. I don't like that . Do we have reason to believe the 32 will hold as the mother of all bottoms?
It will be great to see good news when it finally comes.
But the tricky games wall street plays with the price patterns, isn't much fun.
The doom sayers are calling for 25 cents now. It could happen.
Lets see this rally climb back to 64 for a nice double and see if the next rally holds support. what a shock that would be right? holding support.... lol
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