I have to agree with you guys Buccaneer and Radioactive. The SP...

I have to agree with you guys Buccaneer and Radioactive.

The SP of ELM does not look very promising in the short term. It looks like it is alrerady in a primary decline trend. It may go down to $1.65-$1.70 which is the 50% long term Fibanacci level (from Sept.2010 to today).

I think it is because of this cap raising issue which is expected to be done between $180-$2.00. ELM has to make the CR asap as it has already run out of money atm. And I think the CR will be done in July. I hope ELM wouldn't have to do CR any lower than $1,80.

However the markets look very promising in Europe today. I hope ELM will go over $2 again tomorrow unless US markets open with a surprise decline. Also this week will be quite a hard one as there are a lot of important news coming in the pipeline from US and here. We may face a primiray decline.