Gragan re AIO - thats what we call a shakeout(on bad...

Gragan re AIO - thats what we call a shakeout(on bad news/sentiment) - very wide spread down and then bouncing to close high. These are rather bullish if they occur on real light volume to show lack of supply - The high volume shows they caught a lot of supply - so this will need to be tested later on. If a lot of that supply was absorbed in the shakeout we could possibly see price spring higher now, but wherever it goes they will for certain bring it back to this area to test further (even as low as the low of the bar) but if we see a higher low form above this bar on real light volume then that would show lack of selling pressure and would be real nice.

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