200 week moving average holds Earlier today I s

200 week moving average holds

Earlier today I said that TECO should close at or above 3 cents, and I had no idea we would get a Facebook post in the last half hour of trading.

http://investorshangout.com/post/view?id=1449...post_name=

What I did expect is the usual daily dump into bid by the bears, and for that support area to hold. This isn't based on blind faith but rather on multiple technical and fundamental factors I enumerated in a prior post. 

http://investorshangout.com/post/view?id=1366...post_name=

One thing I have definitely been watching as well, and alluded to in my response to Oilfield Trash was the weekly moving averages. If you look at things on a long term perspective using the chart below, TECO has pretty much traded up and down in a trading range of roughly 7 cents on the high end and 3 cents on the low end. You can also see that there is a 200 week, or said another way, a 4 year moving average at 3 cents as of today. 

These longer term chart factors, plus the impending 10 Q, multiplied by the fact that Teco is on the brink of a major catalyst, give bigger/longer term investors a reasonable risk/reward entry point which could explain all that big buying by our friend who love to execute through Citadel.

In any event folks, this was a tremendous week. I shall be cheering for my beloved Texas Longhorns against our rival OU this weekend, even though we are 3 point dogs. I also hope that Ceonica's Princeton Tigers put on a good effort against Brown this weekend, and that he has fun hanging out with the rest of the Law School class of '52!

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