GBGM - here is a perfect example of how knowing technical analysis and watching the BIG Picture on the weekly chart can help you avoid a disaster! The weekly chart was SCREAMING SELL several weeks before the huge sell off. During the week right before the sell off (2nd week in June) you could have gotten out at the highest possible price. Not knowing technical analysis can cost you a great deal of money! That is why I'm so insistent that you set aside the time to study it! IF you are going to risk your money in the stock market, you need to know how the stock market behaves and the only way to know that is through the study of technical analysis! The market is Oversold now so, it's very possible that you could see a huge bounce back to the 50 day MA fueled largely by short covering. But, at the present time I don't see previous high prices coming back anytime soon. Check the News during the second week in June and you'll get some insight as to why the huge bailout but, the news was weeks after the fact because you should have been selling anyway from a technical point of view. http://stockcharts.com/h-sc/ui?s=GBGM&p=W&b=5&g=0&id=p40735002234&a=273136063&listNum=6
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