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One thing no one seems to be mentioning is that this downtrend is occurring on very low volume, which means hardly anyone is selling (and remember for every seller there is a buyer). Volume shows how much conviction investors have in a trend.

Today only 75,000 shares were traded, of which I bought 25,000 (@ 12 and a few @ 12.5 cents on cross-over to close out my position for the day). There are 41,111,754 shares on issue, a mere drop in the ocean.

I suspect much of the selling is for (end of financial year) tax loss purposes and the whole "go away in May" philosophy.

I'd be surprised if it dropped below 10 cents (but would see it as an opportunity). I believe the bottom will be 11 cents, but people like round numbers so let's call it 10 cents. I will probably place a couple of buy orders just in case it drops further (as I don't have that many shares in ALA and have a little cash to play with), but don't really care if they are filled or not. Just doing a little bottom feeding. It's a good time of year for it.

Best of luck to everyone.

DYOR