$2.90 valuation and buy from psl, page-22

Hope you guys don't mind my CHART contributions to your thread. First chart shows the price action comparison between MCP's SP movements and that of LYC's. Apart from a few isolated periods, notably the mid to late April period, LYC follows MCP's SP movements(or visa versa) almost always.

The next two charts I believe support the likelihood of a bounce from near today's low or just below (if indeed today's low wasn't the swing low I am looking for). The Daily chart highlights today's low at/near the med.tine of the A.P. shown but also the close came on the 61.8% retr. of the range from the 5th May 2010 swing low to the 12th April, 2011 swing high. We also have a slight "gap" support($1.09 - $1.12) just below today's low for some added comfort.

However, the Weekly chart, even though it also supports a probable bounce from near present levels it could be painting a pretty sinister picture over the coming months with a possible "Tiered" Head and Shoulders pattern panning out...The upper-tier is already in play and projects down to near the $0.70c level having broken the neckline at $1.70. Don't even want to think about the possible lower-tier H. & S. as if that pans out and is confirmed we could see test of the Feb. 2009 swing low($0.075...Heaven's forbid!). The good thing is for this to come into play, LYC must bounce from near present levels and rally to but ultimately fail near that upper-tier neckline(~$1.70) first. It is this probable/possible move that I am interested in ATM.