technicals if you are long

Bit sorry I didn't post this earlier seeing how many on here have been screwed.

The price to watch in LUM (as you can see from the attached chart) was 49c. The moment it broke LUM was on the 'don't touch' list.

At this stage imo if you are still long the number you want to watch is 32c. You would probably use that as a stoploss now rather than sell in blind panic cause just maybe you will get a bounce here (don't expect much more though - that would be trading using hope - bad move - again!)

If 32c breaks - even by a cent - then I would expect that the medium term would hold a visit to 22c though how long that would take would be anyones guess. Sometimes it takes a very long time to completely demoralise the more zealot type traders.

Not that I like fundamentals - most books in the fiction section at Borders have more reliable information in them - but the numbers in the LUM report wouldn't exceed Goblins bar tab. Not one for my money.

Cheers,