We expected this tape, get ready to buy I said

We expected this tape, get ready to buy

I said this repeatedly over the past few weeks, volume is very light and the bears are in charge. They are repeatedly pinning ask at .002 so that weak hands will let go into their bids below. That is exactly what is playing out.

It is important at this point to use the weekly chart as your reference for support levels, as the intraday will become very volatile as per the shakeout. I am watching for more shares to get sold by weak hands through probably the middle of next week. This means that I have my bids in the mid 1's just like the big boys.

If I can add another couple of million shares down here that would be ideal. It is important to remember that there has never been a weekly close below .002 since the rally from June of 2011. This is a very major support area which can get pierced intraweek, but is very very strong on a weekly closing basis. If they manage to get a close below .002, we will have to watch and see if there are consecutive lower closes in the following weeks, but odds favor against that occurring.

In the chart below you can see for yourself that volume has petered off each weak in direct correlation with the price. This means that there is nowhere near the level of conviction in the selling as there was in the buying. Money talks and as the weak hands let go, the strong hands are loading back up.

[IMG]http://i.imgur.com/c62HI.png[/IMG]