RE:New lw $1.40 today!That was me flipher, it had showed up on the TD tech analysis. It was an outlier, downward technicals were mostly in around $1.48-$1.55.
I think this wave down is getting close to exhausting itself. $1.40 is a steal in my opinion. I didn't see enough volume on many names to call it capitulation.
Look for a sharp drop in the price of oil followed by a big spike up, +-$3-$4 buck whipsaw on oil, likely will signal a near term bottom in oil. My guess is oil and gas equities do the same, could be this week could be next but it will happen.
Keeping my eyes open, cheers Matthew