Well, I thought I saw a pattern developing but it needed confirmation. I said to watch to see if the behavior repeats and I was frankly hoping it would. Oh well. Turns out I was wrong.
Now, the pattern was one of higher lows, or so I hoped. It may be that its aiming at .0115. right now, its not reached .0115. Its at .0124 for a LOD.
I'm going to hold my powder dry and watch the point at which it ceases retreating and check if it closes at a new low. Or if it peters out earlier than .0115, which would actually confirm my guess of a pattern. Or if it makes a stab to the downside and then rejects the LOD and closes above it. Or sets a new low. That kind of thing. I want it confirmed one way or the other.
My guess is that it will retest the low and reject it and the volume involved in this leg down will not be big. As of this minute, its not gotten back to .0115 and the volume is pretty low comparatively. We'll see. Watch and wait with caution, I'd say.
I always think of a P&D as being one of those things characterized by non-charting evidence. I think its impossible to point to a chart and tell me that the pattern of candles delineates that a given chart is a P&D.... or not.
A P&D is provable using other stuff to make the case. You know.... slathering emails from "services" who are sending it to you because you are on the list of addresses they purchased. Not because you really wanted the info... they wanted $$ so they bought a list and, for promo services, got shares they can dump.
If this company does that stuff, I do not think looking at a chart & using candlesticks and support lines and so forth is the way to go to figure out that they are doing so.
I can run an automated filter to find volume in a company. And the fact is that BRZM had been is a declining channel for.... well months. And there was less and less interest in having the price continue to slowly go down. I mean, in the most recent timeframe, volume had all but disappeared.
Then something happened. Whether its a P&D or genuine interest is the question. Whatever the case, the way I look at things, it has become interesting to consider because the volume has shown up.
I mean, it ran up on good vol back in the spring, but in June, you needed the Hubble Space Telescope to find volume in this puppy. Then, in mid July.... BAM!!! Volume in spades.
So I begin scrutinizing it and watching what is beginning to happen to see if its genuine.
If there are a bunch of links to P&D behavior sites.... unsolicited email blasters or mail-out campaigns driven by free shares that can be dumped by the company doing the mailing, I'll tell you right now that I think it helps everybody to use a site like iHub to tell about the evidence.
On the other hand, if the sales are real and the money is actually flowing in at the rates claimed, then this is a basing pattern we are seeing and the upside is enormous.
I suppose that a person of a politically libertarian persuasion might be presisposed to hate the technology that is reportedly being developed by BRZM, but I don't care one way or the other. If the technology is real and the nations that have seen it are genuinely buying, then its $$ sitting there waiting to be made by buying shares at the point where the turn around is starting to happen.
So, I saw volume. I went to the company web site. I read every link on the site. I read the links on the link sites. I did the search engine dance using phrases that appeared in the various white papers and in the explanation sections on the several sites. I came away interested. So I took a hard look at the chart.
That was what caused me to take a couple of hours last night to post an idea or two. As it turns out, the confirmation that there was a flag or a pennant developing did not come today.
That said, if there is P&D activity and you can point me to it, I'd certainly like to see it. In my book, the PRs thusfar received sound legitimate. And if they are, then this is the real deal because there is a huge demand for reliable, life-saving technologies to combat violence and catch diseases at borders and so forth.
So, in my book, this is a "Watch Closely".
One thing Americans tend to do, that I think is a mistake, is that we have grown accustomed to instant gratification. We see volume come in like it has here. We see news. We want this thing to run like its being goosed by a hot shot.
Thats unrealistic.
Stocks are like cruise ships or oil tankers. They take time to turn and change directions. They are not speed boats, able to turn on a dime.
So, when volume like this comes in and its at the end of a channel that has had volume all but disappear, my expectation is that the chart is telling us that the price will soon head the other way. My expectation is that what is going on is the ship is beginning to effect a change in its course. What I will watch for is whether that change ends up being a change to the downside or a change to the upside.
Yesterday's post was me being hopeful it was going to prove out as a good turn to the upside. It failed to confirm. Now, it did not fall apart, mind you, so it may be basing and it may get to an actual turn up for real..... soon. Or it could base, and trade sideways for a while.
Time will tell.
In any event, it bears watching.
Peace.
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