Picking bottoms, page-4

The steps I see to confirm a break of the recent downtrend and to confirm the bottom are as follows:-

1. Well will need to close at or above the day high set on Friday set at 27.5c

2. Approach and close above the midway point of the downtrend channel  I recon around 29c

3. Break out through the top if the recent downtrend channel currently around 34-35c

4. We  have a higher low  set above 23c



Once the above four have been confirmed (will take week or more) I will be comfortable that a bottom being "in" is confirmed. But my guess at this time is that the inside day on the 19th and the fact of a launch expected early this week will be enough to set the bottom... We will have to see if I am proved right... Monkey's or no monkeys... If I'm right the only monkeys picking their bottoms will be those that didn't see it coming.