Abu's chart/data showed this nicely Baggy with 4.5M of the 6M bought at 25c.Someones had it a buy for the last couple of months.
The question is do we complete a bit more of the handle or will it be a short stubby jobby.
Its an awefully typical pre-break chart now with the two swings and the handle forming.
Now that Greece has signed up to the short term debt arrangements it will only be the Greek people that can make a quicker train wreckage of their economy by overthrowing the government.Theres almost no doubt that there will be some form of default down the line but it looks like it will take a bit longer now.
With the US and China showing some good data of late it may well be that these economies will plug the Euro zone growth issues so we may see a gradual recovery in the indicators.
If the case, and Conti finally signs up SIOC/cdt, and we see a chunk of cash injected into their piggy bank,then thats a big amount of risk removed coming into Penumbra production.
Buy confirmed?
That depends on when we see a solid move through 30c on volume imo.
d.
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