gotta keep the price at $1.25 no matter what., page-41

Hi lynxx, I realise you can't respond cause your in the sinbin, but here is my take on GXY and your queries, firstly I don't think we would disagree just we may interpret things differently because of our different methods. I don't draw my trendlines from the tops or bottoms of the bars, as you can see on the chart I try and get the line as close as possible to the closes, so therefore our opinions will differ straight away and with that Fridays bar is the first to close above the trendline on huge volume.

My first resistance level now is close to yours but I am reading just slightly different things of course, it is for me at $1.30 from 24Feb, it got tagged on the 11Mar but failed.

The first line of support other than Thursdays close of $1.195 is like you say 97c and lynxx you describe the next day the 5Mar as a bounce - we describe that as a successful test - they are testing to see if there is any more supply around from within the strength that appeared the day before. If ST was not so one eyed and learnt how to READ the charts and understand what is happening imo he would be a much better wise investor. As we can see on the chart on the left hand side all of the successful testing that they were doing on the way up from 80cent level with a shakeout halfway and then the incredible volume on those two days 7 -8Sept were they were offloading all of their holdings into the now panicking traders/investors who thought they were going to miss out. THAT is a clear signal to bail or not to be buying, just like FRIDAY we now have to be extremely cautious with what happens over the next few days or week.

But as you can see on the chart Friday was imo the first break higher of my downtrend line and the BLUE uptrend line is now supporting the prices at this moment. imo if one was considering a ST buy of GXY I would definately wait to see that HUGE volume on that up bar tested successful - indicated by narrow low volume down or level days just like the ones highlighted on the chart, SOMETIMES this testing of supply happens during or inside a day, so we can actually miss the exact day but we then wait for other signs. lol and see you back shortly