First trade above 50 DMA since August With the ma

First trade above 50 DMA since August

With the markets being closed Monday/Tuesday, and lighter volume in markets overall, TECO was definitely effected. However, today we had some good news come less than a week behind our McComas update, and there was an attempted breakout with the print as high as 3.78 cents in the lunch hour.

The bears scrambled to get the tape back under control and I saw VNDM come in temporarily to the mid 3's before getting bought out of ask, and the rest of the bears were able to corral the price back into the 3.5 cents area before the close.

This is very much akin to playing chess and being close to a checkmate at this move, but the opponent still can move his King back and forth to try and force a draw even though you have a material and position advantage.

Let's see, we got McComas last week with more follow up news due out any day now to quantify the production. We have Madley getting horizontally drilled at this moment with weekly video updates and news due out any day now. We have the 10Q due within the next two weeks and know that any way you cut it Treaty will beat 2nd quarter revenue. We have news due out of Belize any week now.

Let's look at the technicals:

1. First pierce of the 50 DMA today, next up closing above it

2. 20 DMA held when the bears tried to push the stock down to close below it

3. MACD cross is continuing to show positive momentum off of the lows

4. Multiple closes above the 20 DMA

5. Good trading volume today even if it was bulls absorbing the airshares

Any way you cut it, the bears are in trouble and they are going to need a miracle to save them this time. It ain't going to happen for them. They had their chance, and each day that passes the reaper gets closer.

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