1c on the close, page-58

BMN still has not technically "broken down" yet IMO. The uptrend is still in place ... albeit a bit painfully slow!

Its all about higher highs, and lower lows. The last "higher low" that BMN put in was on August 18 at $1.06 cents. It then went on to a high of $1.43 in September. It has since drifted down to todays low of $1.14.

It seemed to find support there, leaving a rejection bar back to $1.165. which is a good sign. Question is: Is this the new low? IMO it is, but the market will test it first. If it passes, then traders & watchers will feel confident to take positions, further giving strength to the SP.

To really instill buyer confidence, BMN needs to now head back to, AND PASS, that previous high of $1.43. That will be very powerful, but needs a catalyst such as some announcement IMO.

I am not putting any extra cash back into BMN until it proves that the $1.14 of today is the new low. Confirmation of that will see be buying. Until then I watch with interest, totally unconcerned about the long term prospects of BMN & Etango, because my above views relate only to the short-term gyrations of the SP. We are approaching the last few months of the quarter with some highly important announcements not far away. These announcements should underpin the SP of BMN, and set it up for 2010.