Nice bottoming games being played. At this early stage, looks...

Nice bottoming games being played. At this early stage, looks like yesterday was a bear trap to dip under $3.60 and cause panic. But in fact was a nice buying opportunity for some to get in low.

It had left a gap yesterday when it went down between $3.60 and $3.59. Looks like it wants to touch $3.60 and $3.61 to close that gap today. if it only gets as far as $3.60, $3.61, then todays rise was just that. To close that gap and $3.48, $3.46 could still be on the cards. But if closes above $3.60 and starts to resume $3.65's dwell area, then good, $3.51 still good as the bottom.

I started mentioning $3.48 recently for a reason. It is because between April 24-26, 2012, there is a spot on the chart where the price had a high of $3.48 on one day and a low the next day of $3.48. It is not a gap, but TLS has a habit of "bridging" across this kind of area. In other words, it should trade down to minimum of $3.47 to bridge it. The other point is, when you apply an exact 2.55/4.95=0.515 fall that occurred during the 2008 to 2010 TLS bear market to our February 2015 high of $6.73, you get, 0.515x6.73=$3.465.

The two reasons outlined above, is why I have been talking about $3.46-$3.48 area recently. It is not exact science. But it should be noted and we should know of it.