RE:I like ittamaracktop wrote: I like the fact that after the numbers yesterday that many people thought would see this at new lows, the stock opened at .79, and .78 was the day's low.
Today it's been to .79 and firmed up.
I don't think this will make new lows.
I'll stick with yesterday's "higher low" scenario.
Whenever this does turn higher, and I have no idea when that will be, there will be a groundswell of buying.
It's 2/3rds off and it's will be a traders delight.
It has some liquidity.
Historically, there have been periods of sustained volume in the high hundreds of thousands of shares on consecutive days.
There are a lot of eyes on this just waiting for signs of a definite trend change in the other direction.
Just like me.
That's from last Tuesday.
Since the earnings release, the daily lows this week have been .78, .79, .81, and .81 so far today.
I'm going to stick with the higher-low scenario.
It may slip back for sure, I know that, but personally I don't think that this will retest the lows.
I realize it's premature to reach any conclusions, but I'm positive on this.
Not positive as in "certain", but bullish on the stock.
I think the risk/reward parameters are attractive.
Still, I'm going to wait for a close above a dollar as my arbitrary self-imposed confirmation.