On watch for another bear raid I think that t
Post# of 5570
Posted On: 09/06/2012 4:48:12 PM
On watch for another bear raid
I think that today's tape shows definite buying interest from bottom dwellers, however volume was only 3.74 million shares as compared to yesterday's 7.3 million on the slam down.
However, $MPIX is at an important area of support on both the daily and weekly chart. On the daily, it already tagged .0015 which was pivot low from June, and on the weekly it pierced the .002 support. In addition there was the higher low pattern connecting May lows with June lows and extending through this month.
These tilt the odds in favor of the low having been put in. I still expect another raid attempt, but only put the odds at 50/50 for tomorrow at this point. The reason is that there was good volume sold below .002 yesterday, and .002 was bought on relatively significant volume today.
Will someone please do me a favor and invite the user SpeedyGonzalez over to this board from iHub? I got several emails from him regarding MPIX but my account there has been shut down. I think we all agree that getting more MPIX bulls to come over from iScam is a good thing.
I think that today's tape shows definite buying interest from bottom dwellers, however volume was only 3.74 million shares as compared to yesterday's 7.3 million on the slam down.
However, $MPIX is at an important area of support on both the daily and weekly chart. On the daily, it already tagged .0015 which was pivot low from June, and on the weekly it pierced the .002 support. In addition there was the higher low pattern connecting May lows with June lows and extending through this month.
These tilt the odds in favor of the low having been put in. I still expect another raid attempt, but only put the odds at 50/50 for tomorrow at this point. The reason is that there was good volume sold below .002 yesterday, and .002 was bought on relatively significant volume today.
Will someone please do me a favor and invite the user SpeedyGonzalez over to this board from iHub? I got several emails from him regarding MPIX but my account there has been shut down. I think we all agree that getting more MPIX bulls to come over from iScam is a good thing.
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