So have we found the bottom?Yesterday I had written that we have...

So have we found the bottom?

Yesterday I had written that we have not had a green for 5 trading days and probability is pointing towards a green day today. Somehow it came out correct, though we were only marginally in front. But still good to get a green.

Today we gained half cent to finish at 13.5c. Our volume was good but lower than last few days, just over 6.6m shares traded.

So what do we think - have we bottomed out - from 22.5 to 12.5? Difficult to say. The odds are looking good but we need confirmation. Also I feel general markets should not tank, if its even neutral it would be good for us. I had mentioned that some decline in volume was indicative of sellers drying up and possible bottoming happening. Today's trading was in the same vein - so probability of that theory got a little better.

Personally I picked up a few more oppies at 5.4 - lets see how these turn out in long run, they always carry a risk but can provide bigger gains, so its individual risk-reward.

So what was good about today? First green after 5 days. Secondly, there was no big sell off. That was the most noticeable, critical and positive part for me. Last few days we saw some big dumps. Comparatively, it was quite less today. Lets see if this continues. Although for me a regain of 18.5c and a new high above 22.5c is the most important part, but its a journey and will not happen in a day. If we finish at 15+, then 17+ and then regain 18.5 - that would be very bullish and next time we may not have this big drop. But markets are volatile, so please dyor. Lets hope we reach at least one of the numbers next week. Enjoy your weekend and all the best.