RE:RE:RE:RE:RE:RE:RE:RE:COMPETATION TO RVX208??I think it was rvxoldtimer over on Agora who brought up Fibs....or fibonaci resistance points, and mentioned $7.50 (or so) as the next point of resistance assuming the PPS broke above $4.50....I myself don't know much about Fibs.....until reading The Davinci Code I didn't even understand them, now I have a very basic understanding but I don't know how they're used to calculate projected support and resistance areas....but I know there are lots of people who do use them.
In general less technical terms...I like the chances for the PPS to keep moving based on the still incredibly thin volumes we're seeing. As a point of reference, for me a BIG volume day would be one with 5 to 10% of the outstanding share count trading....10 to 20 million in other words. A decent day's trading in my books would be 1% or so....or 2 million.
Add up all the Canadian trading today and we get almost 180,000, OTC rvxcf only traded about 40K....so today for me equalled about 10% of what I'd consider a decent volume day. I think the reason volumes are so low is that there simply aren't enough sellers....and if buyers stormed in and bought 2 million shares in a day.....imo that would absolutely skyrocket the PPS, perhaps right past $7.50 all the way to $10+......and so we trade light and climb slow and steady.....
If we did get a day with 2 or 3 million trading and a huge jump in the PPS......then a sharp correction would probably follow.