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Replies to #67 on Momentum Runners

wolverine02

01/14/11 6:54 PM

#69 RE: stock zombie #67

Still in. Closed just a hair above the 50day but the 200 proved difficult as I think most of us thought it would. I dont see it being a problem next week but who knows.

We have 2 support levels to work with here if your thinking of entering. The .001 was a serious resistance for sometime and now has officially been broken. This would be the risky side as after .001 you have .0005. Before that we could end up having the 50day as support but I would like to see one more close above it first.

If we dip early Monday on light volume I'm loading as heavy as I can as Long as .001 holds up. I wouldnt panic if I saw one .0009 go thru but multiple and heavy might worry me depending on how the bid held up.

If your already in I would use the .001 level as support unless we clear the 200day then that would be the line in the sand as .0005 is now. The new support would be the 50day just below .0013. So a tap or 2 at 12 would be no big deal.

There is a potential catalyst going forward here. That is from the lastest PR about the Test Results upcomming.

I see the .003 level as the toughest resistance going forward.

As always good luck and happy trading

AJMO