Ange08,I like your charts and appreciate your TA of SSN. I tend...

Ange08,

I like your charts and appreciate your TA of SSN.

I tend to disagree with you about the range we are consolidating in. You selected the narrow range between 0.023 - 0.031 because I think you were focusing on the short time frame and the daily charts.

On the weekly chart for SSN you might notice that there is a larger consolidation pattern which ranges from .022 - 0.041. I think we are going to be testing this range because it is the one that SSN has been in during the time that it started having debt issues and alloted 900 + million shares (starting October 2009). I can see your point about the breakout but that is on the daily charts and not the weekly.

Also, on the daily, you might have noticed that the RSI has broken above a descending traingle. This is usually confirmation for me that the SP is willing to test outside of its immediate range.

I do not think we need any further news to test the breadth of this range. However, I do think that a solid change in the fundamentals is necessary to push it beyond this larger consolidating range. This might include for instance: more and more option holders paying 1.5 cents and converting options to shares; farming out some development projects; discovering more oil than expected in Gene 1-22H, Ripsaw, or the surprise State GC-2, etc, etc.

cheers
M