Corrections are good, but what we experienced up until this morning when we hit 47 cents was not a normal correction. This was some sort of attack, and with the attack on our SP we had panic setting in, and when panic set in it created more panic and more selling into the bid and they let it go and retail basically slid it down. I think a correction is good, but we over correctted - is that good that we got rid of all the lows and bounced fairly quick? - I hope so. There is alot of volume again today so if anything at least the mid 50s is the low support level I believe on this stock as there has been soooo many shares traded at this range.
Let's hope the end of day selling will continue into tommorow and our chart looks just like it did today from 10am - 12pm. Even thought we hit a high of 98 cents, I would be more than happy settling in the mid 70s.
Cant wait to get results from Snow White (Hole 127) - this should be a dandy, and if we get some stellar results, it wont be hard for the sp to get back up to where it should be.
TMl26
Can some TA profesionnals explain todays chart and what it means? Aside from saying its good - any green chart with volume is good, but I wonder if there is more TA to be had from our chart? Closing on our day high is a very bullish indicator.
