RE: phase changeRight on the ball there CMG and I might add that the area from the low of Oct16 of 4.47 to a new low of 2.47 Oct 30 to the final low(that period) of Nov 21 of 1.10 will play a big part in this movement we are about to get. The rebound highs during that period were 7.12, 4.02 and 3.05 .
How do we know that this period from Mar will likely test the Oct-Nov period?
#1 mini rally have caused others to move back to that period
#2 the 200 million shares traded the past 4 weeks(expect 20-30 million more this week) overpowers the 87 million traded during the above mentioned 5 week Oct-Nov period. And leads me to believe this stock has the power to retrace all the way back to the sell signal(sept15 week) 9.71-14.03 when the Aug low was breeched.
This 2.24 and 2.15 is important to break
Dec15 week high 2.14
Dec 8 week high 2.15
When it does.. the 2.70 -3.05 highs will be next. then 4.02, 4.27, 7.12 and so on if oil , market, DOW, etc.. co-operates
All I can say is that this did not trade 75 million shares the last 5 days between 1.49 and 1.95 for nothing. Held down so some of the shorters could cover I suspect... (They would never let that happen would they?)
Cheers and all the best ... Here's to 2.16 :) (And got a few hundred paid for today to add to the jackpot.)