7.15 million this week and mostly buys This wee

7.15 million this week and mostly buys

This week there was a change of character in the tape. You didn't need technical analysis to see that there was a lot of buying activity. Some days it was 90% buying and on big tickets.

The bears were sitting on ask with big share counts through VNDM, CDEL, and NITE to hold down the tape, but people kept buying. Obviously, with a 2.5 cent close for the week I am off the mark on last week's forecast by 50%.

But, if you remember where we were last Friday, and even Monday morning this week, some people believed that 2 cents was a forgone conclusion. Out of the blue we had a flurry of positive updates. Not stellar, I'm not going to do backflips over them, but we are seeing progress from the field and this could be the making of the long awaited turn around.

The pattern I called out is still good through next week. Simply put, I'm basing this pattern on what happened late June/early July, where we had a low put in after financials came out, and then a pop to 7 cents.  Let's see if some of the TECO investors who look at this on the weekend come in with big orders on Monday to set the tone for some follow through buying.

Should this specific pattern not play out, that is fine. The longer term weekly chart still shows that we are at the lower end of a 1 1/2 year trading range and bias should still be to the upside.

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